"Our businesses are poised to seize the opportunities we have created and to meet or exceed our expectations," said Mark Donegan, chairman and chief executive officer of Precision Castparts Corp. "The current and future prospects for further growth in the commercial aerospace market are solid. Along with our strong positions on every major production aircraft platform, we have increased our content on the new development engine programs. We are also being asked by many of the OEMs to move further across the value stream, linking many of our capabilities and offering more integrated product packages. In addition, we continue to compete aggressively to gain share across our entire portfolio."Our position in power end markets is also well-established. Industrial gas turbines are expected to be a favored source of power generation, which should yield solid upside for spares sales going forward, and we are closely involved with various OEMs on new and retrofit designs, which are expected to roll out over the next couple of years. The demand for interconnect pipe, particularly to supply coal projects in China and India, is recovering rapidly, with strong demand over the next two years. We are also in active discussions with oil & gas customers on sizeable, downhole projects with potential for significant sales expansion going forward. As always, we are dedicated to driving all this increased production volume efficiently across our assets to deliver the highest returns possible.
Precision Castparts Corp. Reports Second Quarter Fiscal 2014 Earnings
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