Precision Resource

Precision Resource Adds Technical Center

PR Employess Planning at Meeting - PR Adds Technical Center

Precision Resource, Inc., a leading supplier of precision metal components manufactured with the fineblanking technology, today announced that it has established a new Technical Center at 10 Cherry Blossom Road, Cambridge, Ontario, Canada, right next door to the Cambridge Plant, an existing production facility.

As part of a broad-based reorganization plan, production from the company’s former Kitchener Plant has been transferred to the Cambridge Plant and other Precision Resource facilities. A core group of employees from the Kitchener Plant, including Division Manager, Kaveh Vafaei, are managing and staffing the new facility. The Technical Center will design and build fineblank tooling for all Precision Resource production facilities and be the center of development for the company’s fineblanking technology.

“The Kitchener plant was a leased building that was not well suited to the new focus of the group,” company President Peter Wolcott said. “The new building is purpose-designed to maximize efficiency and will be an excellent showcase for our capabilities.” In addition to housing a fully equipped tool room and a PATEC fine-cold-forming press, one 630 ton fineblanking press also will be installed there. The fineblanking press will be used for tool trials, developmental projects and selected production jobs.

“Another advantage of our location is that many of the engineering offices of our key automotive customers are close by in Ontario and the greater Detroit area, so we are better able to support our customers on advance projects,” Kaveh Vafaei says.

Research and development will be another important facet of the Technical Center’s mission. “The Technical Center will be an ideal incubator to develop important new processes and will help the whole company push the state of the art in fineblanking and other cold forming technologies,” states Corporate Engineering Director Mark Polatsek.

Headquartered in Shelton, CT, Precision Resource specializes in the supply of complex components and assemblies using the fineblanking technology. The company markets its products to the automotive, electronics, power tool, and industrial markets primarily. The company also employs a wide array of secondary finishing technologies, including double disc grinding, fine-grinding, honing, plastic over-molding, and CNC machining, in order to supply very tightly toleranced complete solutions to its customers.

Fineblanking is a high precision metal forming process used extensively in the automotive, heavy duty, electronics, medical, lawn and garden, and general industrial industries. This unique process creates parts with very tight dimensional tolerances, excellent flatness, and with very little variation form part-to-part throughout long production runs. These characteristics lead designers to specify fineblanked components for their most critical applications.

Precision Resource has six production facilities in the United States and Canada. In addition to the Technical Center in Canada, the company operates plants in Huntington Beach, CA; Shelton, CT; Mt. Sterling, KY; Vernon Hills, IL; Cambridge, Ontario, and Saltillo, Mexico. For more information regarding the company, visit www.precisionresource.com.

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All electronic communications to or from Precision Resource (including all subsidiaries and affiliates using the domain precisionresource.com) are governed by these terms and conditions.

1. Intended Recipients

Electronic communications from Precision Resource are intended only for the person or persons to whom the communications are addressed. Absent specific instruction, such communications are not intended or approved for forwarding, copying, posting on any website, or disclosure to any unauthorized recipient and may not be relied upon by any person other than the intended addressee. Persons who receive electronic communications who are not the recipient intended by the Precision Resource sender are asked to delete the communication without reviewing its contents, copying or forwarding the communication and notify the Precision Resource sender as soon as possible of their receipt and deletion of the communication.

2. Legal Effect

Electronic communications are intended as a convenient way to exchange information, but are not intended to create any legally binding obligation on Precision Resource.

No employee, representative, or agent of Precision Resource is authorized to conclude any legally binding agreement, or make any legally binding representations or warranties, on behalf of Precision Resource by electronic communication (other than through authorized EDI transactions) without the express written confirmation of an officer or director of Precision Resource. Any representation to the contrary may not be relied upon by the recipient of the electronic communication. Any electronic communications sent to Precision Resource purporting to legally bind Precision Resource in any way shall have no force or effect. Precision Resource’s

Standard Terms and Conditions, available at www.precisionresource.com, apply to all electronic communications.

3. Confidential and Privileged Information

Any information contained in electronic communications and any attachments thereof relating to the business of Precision Resource or any of its employees, shareholders, customers or suppliers is confidential and may be privileged.

Any such information shall not be disclosed to any third party or used for any purpose other than the purpose intended by the Precision Resource sender and is subject to the confidentiality provisions contained in Precision Resource’s Standard Terms and Conditions, available at www.precisionresource.com. The inadvertent misdirection of an electronic communication containing confidential or privileged information shall not constitute a waiver of Precision Resource’s rights with respect to such confidentiality (including trade secrets) or privilege. Any electronic communication from a Precision Resource sender to or from its legal counsel, including in-house legal counsel, shall be presumed subject to the attorney-client privilege even if others are copied on such communications.

4. Views and Opinions.

Information, views and opinions contained in an electronic communications express the opinion of the sender and not necessarily the opinion of the Company. Precision Resource policy prohibits the use of electronic communications in any harassing, illegal or discriminatory manner or that infringes or violates the rights of others. Any communications contrary to such policy are not authorized by Precision Resource and are outside the scope of employment of the sender. The company will not accept any liability in respect of any such communication. Email communications to and from Precision Resource may be monitored to ensure compliance with internal policies.

5. Nature of Electronic Communication; Acceptance of Risk.

By its nature, electronic communication is subject to risk. Electronic communications are not secure and cannot be guaranteed to be error free as they can be intercepted, delayed, mis-directed, amended, altered, corrupted, lost or destroyed. Additionally, although Precision Resource takes reasonable and customary measures to ensure that outgoing electronic communication is free of virus infection, such infection remains a possibility. The recipient should check any electronic communications and any attachments for the presence of viruses. Precision Resource accepts no liability for any intercepted, delayed, mis-directed, amended, altered, corrupted, lost or destroyed messages, any errors or omissions in the content of any electronic communication, or any damage caused by viruses resulting from electronic communications from Precision Resource.

Any person or entity engaging in electronic communication with Precision Resource accepts all of the foregoing risks and these Terms and Conditions by virtue of engaging in such communication.