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Business/Financial

Berkshire To Buy Aerospace Component Supplier Precision Castparts for $37 Billion

Monday, August 10th, 2015

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Berkshire To Buy Aerospace Component Supplier Precision Castparts for $37 Billion

Major aerospace component manufacturer Precision Castparts Corp. [PCC] is being sold to Berkshire Hathaway for $37 billion, the companies said Monday.At $235 dollars per share for the outstanding PCC shares Berkshire doesn’t already own, the acquisition is the largest in billionaire investor and Berkshire chief executive Warren Buffett’s career.PCC is the industry leader in building castings used to build jet engines. Its largest customers are aerospace industry giants Lockheed Martin [LMT], Northrop Grumman [NOC] and Boeing [BA]. PCC also builds…

Congress

U.S. Fighter Fleet Will Expand By 2040 But More Stealth Aircraft Will Mean Less Availability, CBO Says

The number of fighter aircraft in the U.S. military inventory will decline over the next few years before expanding to a greater number than currently, but their availability for operational […]

Congress

White House Details ‘Concerns’ With Shipbuilding, Spaced-Based Interceptor Oversight In House’s NDAA

The White House has detailed “a number of concerns” with the newly-passed House version of the next defense policy bill, to include the legislation’s limits on procuring Navy ships built […]

Congress

House Narrowly Votes To Pass $1.15 Trillion FY ‘27 NDAA, Blueprint For Reconciliation 3.0

The House on Wednesday narrowly voted to pass its $1.15 trillion version of the fiscal year 2027 National Defense Authorization Act (NDAA) and a blueprint for a third reconciliation bill […]

Congress

Senate Appropriators Press On Supplemental’s Requests Beyond Iran Scope, Hegseth Urges Full Funding

Senate appropriators have pressed Pentagon leadership on the decision to include funds in the Iran war supplemental request for items beyond the current military operation, while Defense Secretary Pete Hegseth […]