Berkshire Hathaway to acquire Precision Castparts in cash transaction

August 12, 2015
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The boards of directors of Berkshire Hathaway Inc., Omaha, Neb., and Precision Castparts Corp., Portland, Ore., have unanimously approved a definitive agreement for Berkshire Hathaway to acquire all outstanding PCC shares for $235 per share in cash. PCC will remain headquartered in Portland as a wholly owned subsidiary of Berkshire Hathaway, and will continue to do business around the world under the Precision Castparts name. The transaction is valued at approximately $37.2 billion, including outstanding PCC net debt.

"I've admired PCC's operation for a long time," says Warren E. Buffett, Berkshire Hathaway chairman and chief executive officer. "For good reasons, it is the supplier of choice for the world's aerospace industry, one of the largest sources of American exports. Berkshire's Board of Directors is proud that PCC will be joining Berkshire."

"We are very pleased to be joining forces with Berkshire Hathaway," says Mark Donegan, PCC's chairman and chief executive officer. "We see a unique alignment between Warren's management and investment philosophy and how we manage PCC for the long-term.

"We believe that as part of Berkshire Hathaway, PCC will be exceptionally well-positioned to support our customers into the future. This transaction offers compelling and immediate value for our shareholders, and allows PCC's employees to continue to operate in the same manner that has generated many years of exceptional service and performance."

The transaction requires approval by a majority of PCC's outstanding shares. Closing is expected during the first quarter of calendar 2016, subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Act and competition clearance in certain foreign jurisdictions.

Precision Castparts Corp. is a worldwide, diversified manufacturer of complex metal components and products. It serves the aerospace, power, and general industrial markets. PCC is a market leader in manufacturing complex structural investment castings and forged components for aerospace markets, machined airframe components, and highly engineered, critical fasteners for aerospace applications, and in manufacturing airfoil castings for the aerospace and industrial gas turbine markets. PCC also is a leading producer of titanium and nickel superalloy melted and mill products for the aerospace, chemical processing, oil and gas, and pollution control industries, and manufactures extruded seamless pipe, fittings, and forgings for power generation and oil and gas applications.

www.berkshirehathaway.com

http://www.precast.com/investors/press_release/?id=666

 

 

Berkshire Hathaway to acquire Precision Castparts in cash transaction

The boards of directors of Berkshire Hathaway Inc., Omaha, Neb., and Precision Castparts Corp., Portland, Ore., have unanimously approved a definitive agreement for Berkshire Hathaway to acquire all outstanding PCC shares for $235 per share in cash.

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Argonne receives patent for ultra-fast boriding process, Bodycote acquires license


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Argonne National Laboratory, Lemont, Ill., announces that it has been granted a patent for its ultra-fast boriding process. In this technology, parts are dipped into a molten borax-based solution that converts a metallic surface into a hard, durable boride layer 100 micrometers thick in half an hour. Bodycote Thermal Processing, Dallas, Texas, has obtained an exclusive license for Argonne's development.

The patent covers the ultra-fast nature of the technology, the range of materials that can be treated, and several specific steps in the process. Developed by Distinguished Fellow Ali Erdemir and his team at Argonne, the process reportedly saves time, money, and energy. Because boron is supplied so quickly, the layers are more uniform and dense than those produced by conventional pack boriding, while using 80% to 90% less energy.

Not only is ultra-fast boriding faster, but also it reportedly creates tougher layers than any existing option for surface hardening, including the use of carbon or nitrogen in place of boron.

"The application conditions for all kinds of machinery are getting harsher," says Dr. Erdemir. "The conventional approach to surface hardening is just not enough to sustain these machines." This includes automobiles, with parts that bear the burden of heavy loads, erosion, and corrosion. In the aerospace industry, many components are made of titanium, which would be more resilient if treated with ultra-fast boriding.

The three-year project was funded by the U.S. Department of Energy's Office of Energy Efficiency & Renewable Energy, Advanced Manufacturing Office.

www.anl.gov

 

Argonne receives patent for ultra-fast boriding process, Bodycote acquires license

Argonne National Laboratory, Lemont, Ill., announces that it has been granted a patent for its ultra-fast boriding process.

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Bioabsorbable magnesium wire for orthopaedic implants

August 7, 2015
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nanoMAG LLC, Livonia, Mich., developed a high strength bioabsorbable magnesium alloy, BioMg 250, whcih is now available in wire form for biomedical orthopaedic procedures. Building on the wire-making skills of Fort Wayne Metals, Ind., wire is available at 1.1 mm and 0.3 mm diameter. Yield strength varies between 300 and 370 MPa.  The wire's ductility is demonstrated by the tight knot tied in the 0.3 mm wire (pictured). Potential applications in orthopaedics using wire include K wire, suture wire and cables, tension band wiring, mesh for stents, and fiber-mesh for reinforcing hydroxyapatite bone-filling cements.

nanoMAG often partners with biomedical implant makers to design and develop metallic implants to be bioabsorbable, according to Steve LeBeau, president. These implants are developed using proprietary alloys of magnesium and other compatible elements which provide the appropriate strength and bone support while healing occurs, after which the implant dissolves and is absorbed by the body. The alloy content of BioMg 250 is aluminum- and rare earth element-free. It is microalloyed with elements that are nutrients in the body and which foster new bone growth. 

At the same time, these microalloying elements are balanced to provide high strength for bone fixing along with optimum bioabsorption rate to obviate any need for secondary removal operations. Suggested applications include screws, staples, tacks, wire, rods, plates, and 3D shapes for ligament fixations, craniofacial implants, and small bone implants.  "These new magnesium parts could radically change how orthopaedic implants are made and used," said LeBeau.

nanoMAG is seeking potential partners interested in collaborating on new product development projects.  The materials are being tested as part of an ongoing internal program to obtain FDA regulatory approval for the use of bioabsorbable magnesium alloy implants in orthopaedic applications.

This technology development was supported in part by the National Science Foundation under Contract No. 0847198 (Project Manager, Prakash Balan).

Bioabsorbable magnesium wire for orthopaedic implants

nanoMAG LLC, Livonia, Mich., developed a high strength bioabsorbable magnesium alloy, BioMg 250, whcih is now available in wire form for biomedical orthopaedic procedures.

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Inductoheat bar heating system features flexible modular design

August 5, 2015
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Inductoheat, Madison Heights, Mich., offers the InductoForge modular bar heating system for the forging industry. The flexible modular design allows the forge shop to assemble an induction system that exactly matches its application requirements. The InductoForge system offers flexibility and efficiency with its individually controlled (500 to 6000 Hz) power modules.

The InductoForge heating systems utilize proprietary iHaz temperature profile modeling software, giving the user the tools to generate an ideal system recipe and precisely heated billet.

The iHaz software package is a predictive numerical simulation technology that accurately forecasts the temperature throughout the cross section of the billet, from the surface to the core. The heating system's modular design makes it possible to employ a standby function that keeps the billet at temperature, ready to start forging immediately following minor line disruptions.

www.inductoheat.com

 

 

Inductoheat bar heating system features flexible modular design

Inductoheat, Madison Heights, Mich., offers the InductoForge modular bar heating system for the forging industry.

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Case-hardening technology reduces distortion during heat treating


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Seco Warwick, Meadville, Pa., introduces the UniCase Master case-hardening technology, a single-piece-flow case hardening system for mass production. Case hardening is achieved by low-pressure carburizing and high-pressure gas quench. The goal is to address the major causes of deformation during heat treatment and create a method for controlling, correcting, and eliminating distortion.

The system adjusts to the size and shape of the particular gear in order to minimize distortion, and it ensures ideal repeatability of results. It is a compact system, designed for high-volume gear heat treating, ideal for lean manufacturing configurations.  This system can easily be integrated into machining centers.

www.secowarwick.com

 

Case-hardening technology reduces distortion during heat treating

Seco Warwick, Meadville, Pa., introduces the UniCase Master case-hardening technology, a single-piece-flow case hardening system for mass production.

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Software in pendulum impact test systems enables hardware to analyze quality


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Tinius Olsen, Horsham, Pa., manufactures a several high-capacity pendulum impact testers. All testing hardware is fully complemented by Horizon software, which turns hardware into a sophisticated quality analysis system. Most testers can be easily changed from a Charpy configuration to an Izod configuration, or even to a tensile impact configuration.

Available in several capacities, they are designed primarily for determining the impact resistance of metals. They are built to fully comply with the specifications outlined in ASTM E23, BS EN ISO 148-3, BS EN ISO 148-2 and ISO 442.

These machines have a number of different features and accessories that ensure safe and reliable testing while maintaining accuracy and repeatability of results. These features include motorized return, electric brake, 'Low Blow' impact (where machine capacity is reduced by limiting the release height of the pendulum), safety shields, and a variety of result display options.

www.tiniusolsen.com          

 

Software in pendulum impact test systems enables hardware to analyze quality

Tinius Olsen, Horsham, Pa., manufactures a several high-capacity pendulum impact testers.

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Buehler PlanarMet with stone grinder features high-torque motor


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Buehler, a division of ITW Inc., Lake Bluff, Ill., introduces the PlanarMet 300 benchtop planar grinding machine. It utilizes a fixed abrasive stone for rapid sample grinding, and accommodates specimen holders up to 7 in. diameter. Directly integrated with the EcoMet/AutoMet Grinder-Polisher, this stone grinder features a high-torque, continuous-duty, 5.7 Hp motor with auto wheel dressing, compact interlocking safety cover, and built-in cooling.

The 5.7 Hp motor allows aggressive material removal, and is up to four times faster than grinding with SiC paper: One grinding stone is equivalent to 1000 sheets of SiC paper.  Aluminum or SiC grinding stones can be used for almost any material application. The auto dressing system ensures fresh, consistent, abrasive surfaces.

The PlanarMet's programmable grinding depth is accurate to 0.01 mm. It has two operational modes: timed cycle, and controlled material depth removal (Z-axis). High water flow and a unique manifold keep specimens cool, minimizing subsurface damage. No compressed air or water hook-up is needed.

The benchtop design saves space and allows for direct integration to grinder-polishers for polishing steps, yet is just as powerful as large floor models. The durable cast cover provides maximum user safety with magnetic interlock.

http://www.buehler.com/PlanarMet-300.php

 

Buehler PlanarMet with stone grinder features high-torque motor

Buehler, a division of ITW Inc., Lake Bluff, Ill., introduces the PlanarMet 300 benchtop planar grinding machine.

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Premier Furnace endothermic gas generator provides flexibility in gas flow capacity

August 3, 2015
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Premier Furnace Specialists Inc., Farmington Hills, Mich., recently received an order from a large Commercial Heat Treater in the state of Michigan to design, manufacture, and install an endothermic gas generator. It is a stand-alone unit designed to generate 3000 to 12,000 CHF of endothermic gas, and consists of four independent heating/cracking modules.

The system will provide wide flexibility in gas flow capacity that is automatically adjusted by the included Endolnjector gas mixing system. The generator insulation will have fiber modules in walls and roof and brick insulation on the floor. The burner system is direct fired with individual flame monitoring. The Endolnjectorâ„¢ will have integrated temperature control loops to control the temperature of the retorts. The "main control screen" will provide an overview of all important generator process factors.

http://www.premierfurnace.com/

 

 

Premier Furnace endothermic gas generator provides flexibility in gas flow capacity

Premier Furnace Specialists Inc., Farmington Hills, Mich., recently received an order from a large Commercial Heat Treater in the state of Michigan to design, manufacture, and install an endothermic gas generator.

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Automotive lightweight materials congress returns to Detroit


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Annual Global Automotive Lightweight Materials Congress

August 18-20, 2015 – Detroit

This is the largest and most trusted automotive lightweight materials conference, and this years instalment of GALM is scheduled to be the biggest and best ever. The series has been attended by 2000+ attendees across the globe and is returning to Detroit with a 3-day agenda – to share unprecedented detail across composites, joining, forming, and multi-material design.

Building on the successes of GALM events in London, Detroit, and Shanghai this year, this event is fully expected to sell-out, with over 80 attendees and 24 exhibitors already confirmed.

The expert panel of speakers includes:

  • David Wagner, Technical Leader Lightweight Vehicle Design, Ford Motor Co.
  • Surender Maddela, Sr. Research & Development Engineer, Materials Engineering, Nissan Motor Corp.
  • Stephen Logan, Senior Engineering Specialist, Chrysler Group LLC
  • Bhavesh Shah, Senior Advanced Technology Design Release Engineer, General Motors
  • Nir Khan, Director Of Design, Plasan
  • Mark Voss, Engineering Group Manager, Body Advanced Technical Works, General Motors
  • Venkat Aitharaju, Senior Researcher, Polymer Composites, General Motors Global Research and Development
  • Gregg Peterson, Senior Technical Specialist, Lotus Engineering
  • Raymond Boeman, Program Director, Energy Partnerships, Oak Ridge National Laboratory
  • Laurent Chappuis, Technical Expert - Lightweight Stampings, Vehicle Program Engineering – SBU, Ford Motor Co.
  • Glenn Daehn, Mars G. Fontana Professor Of Metallurgical Engineering, Executive Director, Honda Partnership Program

 

With an agenda re-written from scratch and providing a globally respected platform for leading OEMs, material suppliers, joining and forming partners, the 2015 agenda provides new, exclusive content including:

NINE UNIQUE CASE STUDIES ON JOINING: Mitigating corrosion with strong joining for every material combination that can be applied with low cycle times

FORMING METALS: Benchmarking forming methods for magnesium and aluminum to enable adoption into multi-material architectures

EIGHT DEDICATED SESSIONS ON COMPOSITES: From reducing the costs and cycle times of production to design modeling and application success stories

DESIGN AND MATERIAL SELECTION: Selecting the optimal materials across the body, interior and closures to maximize total weight loss across the vehicle

RECYCLING: Analyzing the lifecycle implications for aluminum and carbon-fiber, tackling segmentation and re-use challenges

View a full conference brochure.

 

Automotive lightweight materials congress returns to Detroit

The Annual Global Automotive Lightweight Materials Congress is taking place August 18-20, 2015 in Detroit.

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