Precision Resource Acquires Assets of Sekam Technologies
Precision Resource, Inc., a leader in the supply of precision metal components manufactured with fineblanking technology, today announced that it has completed the purchase of the assets of Sekam Technologies, Inc., a leading Canadian supplier of fineblanked components.
Located in Kitchener, Ontario, Sekam Technologies specializes in the supply of complex components and assemblies using fineblanking and fine cold forming technologies. The company markets its products to the automotive, electronics, power tool, and industrial markets primarily.
Sekam will be added to Precision Resource’s Canadian operations and will be known as “Precision Resource Canada – Kitchener Plant.” Precision Resource Canada currently operates a facility in nearby Cambridge, Ontario. Precision Resource will maintain Sekam’s existing facility in Kitchener, and Sekam’s executive and operational management teams will remain in place with Kaveh Vafaei remaining as General Manager of the Kitchener Plant.
“We are excited to be acquiring the assets, technology, and accumulated experience of Sekam Technologies,” said Peter Wolcott, President of Precision Resource, Inc. “Sekam has built a reputation as a technology innovator. By combining their technical capabilities with Precision Resource’s own technology and the strength of our larger organization, we are confident that this acquisition will help Precision Resource to continue our growth well into the future.”
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.
Founded as Fairfield Tool Company in 1947, privately held Precision Resource has grown to be the leading supplier of fineblanked components in North America and services leading manufacturers throughout the world. Precision Resource also has a tremendous range of secondary finishing capabilities that enable it to provide completed components to their customers. These capabilities include CNC machining, double disc grinding, fine grinding, lapping, broaching, and assembly.
Precision Resource now has seven production facilities in the United States and Canada. In addition to the two facilities in Ontario, the company operates plants in Huntington Beach, CA; Ft. Lauderdale, FL; Vernon Hills, IL; Mt. Sterling, KY; and has a production facility and corporate headquarters in Shelton, CT. For more information regarding the company, visit www.precisionresource.com.