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PRECISION CASTPARTS NAMES STONECIPHER CHAIRMAN OF THE BOARD

 PORTLAND, Ore., Nov. 2 /PRNewswire/ -- Precision Castparts Corp. (NYSE: PCP) announced today that, effective Nov. 1, Harry C. Stonecipher has assumed the position of chairman of its board of directors, replacing Edward H. Cooley. Cooley will remain a member of the company's board. Stonecipher was first appointed to Precision's board in 1992 and was elected to a full three-year term in August of that year. Stonecipher is currently chairman, president and chief executive officer of Sundstrand Corp., a manufacturer of technology-based systems and components for aerospace and industrial applications. Stonecipher had 38 years of experience with aerospace companies, including 28 years of engineering and management experience in jet engine programs, before joining Sundstrand in 1987. Stonecipher also serves on the board of directors of Cincinnati Milicron Inc., a manufacturer of machine tools, and Lukens Inc., a manufacturer of steel and safety products. He also serves on the governing bodies of Aerospace Industries Association (AIA), National Association of Manufacturers (NAM), and Manufacturers' Alliance for Productivity and Innovation (MAPI).
 Cooley has served as chairman of the board of the company since 1956. He served as its president and chief executive officer from 1956 until his retirement in 1991. William C. McCormick, president and chief executive officer of the company, in making the announcement today, said that Cooley's retirement as chairman and the election of Stonecipher as successor reflect Cooley's desire to transfer the responsibilities of the chairman to an individual who remains active in the industry and who is well positioned to assist management in strategic planning issues. McCormick also said that Stonecipher's perspective as an outside director is another step towards independence in corporate governance. "We are very fortunate to have both Ed and Harry as members of our board. With Ed's desire to continue his scale down of active involvement in the business, Harry is the natural successor to Ed's leadership role. Harry knows and is known by all of our major customers. We look forward to many years of continued participation by each of them," McCormick said.
 Precision Castparts Corp. is a Portland-based manufacturer of aircraft engine and aerospace components and parts for the compressor, industrial turbine and health care industries.
 -0- 11/2/93
 /CONTACT: Roy Marvin of Precision Castparts, 503-653-4840/
 (PCP)


CO: Precision Castparts Corp. ST: Oregon IN: AIR SU: PER

JH-IC -- SE016 -- 9825 11/02/93 16:48 EST
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Publication:PR Newswire
Date:Nov 2, 1993
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