Berkshire Hathaway Inc. recently announced a $9.8 billion write-down for its Precision Castparts Corp. (PCC) unit. PCC’s aircraft components business has been ruined by the COVID-19 pandemic, forcing the company to reduce its workforce by 10,000 this year. PCC reported a $78 million pre-tax loss in the second quarter of this year, compared with earnings of $481 million in 2019. Berkshire Hathaway bought PCC in 2016.
PCC manufactures complex structural investment castings and forged components for aerospace markets. The Portland, Ore.-based company has three divisions: Forged Products, Investment Cast Products and Airframe Products.
Check out the October 2020 issue of FORGE, featuring our cover story on "Fever Screening and Forging Quality". Other features include "Forging with Hybrid Steel", "FutureForge in Scotland: The Goldilocks Effect", and much more.