Precision Castparts Corp. (NYSE:PCP), Portland, OR, has acquired a 49% equity interest in Yangzhou Chengde Steel Tube Co., Ltd.
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Chengde is a manufacturer of seamless, extruded pipe for boiler applications in coal-fired power plants, as well as pipe and tubing for other energy-related applications, such as compressed natural gas. The company operates from one facility with a manufacturing footprint of 6 million square feet, in the Jiangsu Province of China. Chengde has built a position in the Chinese boiler pipe market and has begun to make inroads into export markets.
Precision Castparts Corp. is a diversified manufacturer of metal components and products serving the aerospace, power generation, and general industrial markets.
