Fasteners Weather Downturn at PCC
Fasteners Weather Downturn at PCC
Jason Sandefur
Facing declining aerospace demand amid a global economic crisis, Precision Castparts Corp. reportedly laid off as many as 500 employees in recent weeks. Most of the job cuts were in the company’s casting and forging division.
However, PCC’s fastener business has seen little impact from the economy or the aerospace slowdown, American Metal Market reports.
“In fasteners we’ve gained a lot of market share,” stated PCC communications director Dwight Weber. “They have a sizable backlog and so they haven’t been affected in a major way.”
PCC’s fastener division includes Cherry Aerospace, Air Industries and Shur-Lok. PCC founded its fastener division by acquiring SPS Technologies in 2003 and airframe fastener manufacturer AIC in 2005. PCC employs more than 20,000 workers at 80 facilities in 22 states and 16 countries. Web: precast.com �2009 FastenerNews.com
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