PR Acquires Slovenian Fineblanking Operation
Shelton, CT – November 1, 2017 – Precision Resource, Inc., a leading supplier of precision metal components manufactured with fineblanking technology, today announced that it has acquired the fineblanking assets of Hidria Rotomatika d.o.o. in Spodnja Idrija, Slovenia. The new company will be known as Precision Resource d.o.o. In cooperation with Hidria Rotomatika, the company will continue to run the fineblanking operation in the Hidria facility while it locates and develops a new facility nearby.
Hidria has developed a reputation as a reliable, high quality and technically advanced supplier of fineblanked components to the European automotive industry. Their main applications are in the seating, powertrain, and hardware markets.
“We are excited to add the experienced and dedicated employees of Hidria’s fineblanking operation to the Precision Resource team,” said Peter Wolcott, Managing Director of Precision Resource, Inc. “We share a deeply rooted quality culture and a commitment to customer satisfaction that should ensure a smooth integration of the Slovenian operation into Precision Resource. Slovenia is an ideal location from which to supply our customers with European operations.”
The addition of the Slovenia operation allows Precision Resource the ability to support its customers with local production on three continents – North America, Asia, and Europe.
Fineblanking is a high precision metal forming process used extensively in automotive, heavy duty, electronics, medical, lawn and garden, and general industrial applications. This unique process creates parts with very tight dimensional tolerances, excellent flatness, and with very little variation from part-to-part throughout long production runs. These characteristics lead designers to specify fineblanked components for their most critical applications.
Founded as Fairfield Tool Company in 1947, privately held Precision Resource has grown to one of the leading suppliers of fineblanked components in the world. Precision Resource also has a tremendous range of value-added finishing capabilities that enable it to provide completed components and assemblies to their customers. These capabilities include CNC machining, honing, grinding, fine-grinding, plastic over-molding, heat treating, automated assembly, and laser cutting.
In addition to the new operation in Slovenia, Precision Resource has six production facilities in North America, one in China, and a Technical Center in Canada. The company operates facilities in Huntington Beach, CA; Shelton, CT; Mt. Sterling, KY; Vernon Hills, IL; Cambridge, Ontario; Saltillo, Mexico; and Hangzhou, China. For more information regarding the company, visit devpr.wpengine.com.