A worldwide, diversified manufacturer of complex metal components and products
Toxic 100 Study By PERI Deeply Flawed According To Review By Precision Castparts
PORTLAND, Ore. – Aug. 28, 2013 – Precision Castparts Corp. (NYSE: PCP) has reviewed the Toxic 100 study released on August 19, 2013 by the Political Economy Research Institute (PERI) at the University of Massachusetts, Amherst, and has concluded that the study is grossly misleading and uses flawed assumptions in several key areas.
“This study does not reflect the commitment of Precision Castparts to environmental compliance and the safety and well-being of our employees and the communities in which we live and work. Nor does the study reflect the EPA’s own cautionary statements about how to use the EPA data that the study is based on,” said Emi Donis, vice president and chief compliance officer.
The study assigns false high toxicity levels to the metal emissions from Precision Castparts Corp. (PCC) manufacturing facilities. The authors of the study assume that metal releases to the atmosphere have the same toxicity as the most toxic material within the category. For example, the PERI study data assumes that nearly all of the company’s chromium emissions are of the most toxic form. However, nearly all of PCC’s chromium emissions are in the form of metal dust with very low toxicity. PERI’s reasoning leads to inaccurate assumptions and conclusions regarding the potential hazard associated with the facilities.
In addition, the PERI study uses EPA data in a way that the EPA itself warns against. The EPA is very specific about the fact that its findings should not be used in an improper manner. They warn readers against concluding that a particular chemical release is causing harm to a specific population or location, making decisions about the risk posed by any particular facility, or generating quantitative risk estimates. Clearly, the study co-directors have ignored the EPA warnings.
Precision Castparts is fully committed to responsible manufacturing practices, including environmental stewardship in the communities in which it operates. The company works closely with the EPA and state and local authorities in its communities to be in full compliance with its permitted emission levels.
About Precision Castparts Corp.
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 the market leader in manufacturing large, complex structural investment castings, airfoil castings, forged components and highly engineered, critical fasteners for aerospace applications. The Company is also the leading producer of airfoil castings for the industrial gas turbine market. In addition, PCC manufactures extruded seamless pipe, fittings, forgings, and clad products for power generation and oil & gas applications; commercial and military airframe aerostructures; and metal alloys and other materials to the casting, forging, and other industries.