KANSAS CITY, Mo., Dec. 3, 2015 /PRNewswire/ -- Tech Industries – which manufactures and supplies complex structural components and major sub-assemblies for leading airframe manufacturers–acquired the assets of Precision Machine & Manufacturing Company (Precision), a 140,000 sq. ft. aerospace manufacturing facility in Grove, OK and Precision Components Company (PCC), a 43,000 sq. ft. facility in Owasso, OK on November 17, 2015.
After 50 years, the Caudill Family has decided to sell their majority interest in Precision Manufacturing and Precision Components Company. "I am very grateful to the many associates, customers, suppliers, and family members that have contributed to Precision's success over the years. After a lengthy and diligent search, we are very blessed to have come together with our new partners at Tech Industries. We believe our family's culture and philosophies are a close fit with Tech's and the business will be stronger as a part of the Tech group of companies," said Tony Caudill, President of Precision and PCC.
This acquisition will allow Tech Industries to further their strategic vision of creating a more efficient supply chain. Keith Martin will become the General Manager of both facilities. He has been with Precision since 1999 and will lead multi-talented teams in Grove and Owasso.
"Both facilities offer their customers unique capabilities. We are sincerely grateful to the Caudill Family for the opportunity of working with all the Precision employees and to continue providing their customers with a quality product on time," said Charlie Newell, CEO of Tech Industries.
The addition of Precision to the Tech family will also bring:
Precision has developed strong customer relationships by providing manufacturing expertise coupled with unmatched customer service. Under Tech ownership Precision plans to continue to provide them with this same exemplary service that has earned them the favor of some of the strongest Tier 1 and Tier 2 aerospace companies in the industry.
About Tech Industries
Tech Industries supplies complex structural components and major sub-assemblies for leading airframe manufacturers in the commercial aerospace, military fixed wing, rotorcraft, missile/ground support and general aviation industries. Tech is headquartered in Kansas City, MO with locations in North Kansas City, MO, Grove, OK, and Owasso, OK. Tech provides outsource solutions for leading airframe manufacturers, including: Boeing Defense Systems'; GE; General Dynamics; GKN; Lockheed Martin; Lycoming, a Textron Company; Northrop Grumman; Parker; Spirit Aerosystems; and DMAC
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SOURCE Tech Industries
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