Precision acquires 49% equity interest in Chengde

Precision Castparts Corp. , amanufacturer of complex metal components and products., has acquireda 49% equity interestin YangzhouChengde Steel Tube Co. Ltd. Chengdeis a manufacturer of seamless, extrudedpipe for boiler applications in coal-firedpower plants, as well as pipe and tubingfor other energy-related applications,such as compressed natural gas. Thecompany operates from one facility with amanufacturing footprint of nearly 6 millionsquare-feet, in the Jiangsu province. Mark Donegan, chai rman, CEO of Precision, said, 揥elacked the manufacturing capacity for seamlessboiler pipe, and we have been forced towalk away from this significant market.Through Chengde, PCC gains immediateacces s to the boi ler pipe market i nChina, and we will use Wyman-Gordon抯distribution capabilities to pull theirproducts around the world. Workingtogether, Wyman-Gordon and Chengdewill be a tough team to beat as we continueto attack power generation opportunitiesworldwide, with a product offering ofboiler pipe, interconnect pipe, and fittings.Down the road, we can also use Chengde抯processing capabilities to build SpecialMetals?energy pipe business."Girls Air Jordan 1