PennTool(TM) Group Acquires Precision Industries, Inc.
PennEngineering® (Penn Engineering)
5190 Old Easton Road
Danboro, PA, 18916-1000
Press release date: January 7, 2014
PennTool™ Group (Shelby, MI), an operating unit of PennEngineering® (Danboro, PA), has acquired the assets of Precision Industries, Inc. (Providence, RI), it was announced today by Mark Packard, National Sales Manager for PennTool. As a result, all existing and new orders for products and technologies previously supplied by Precision Industries will be handled exclusively by PennTool Group. All commercial business operations for Precision Industries ultimately will relocate to the existing PennTool Group facility in Michigan.
Precision Industries, founded in 1961, is an established designer and manufacturer of specialty cutting tools for the machine tool industry and pioneered the use of inserted form tools for a wide variety of machines and applications.
PennTool Group, organized in 2013, specializes in developing cost-effective precision tooling for heading and screw machine operations and supplying precision machine part solutions for fastener and component manufacturers across industries. Low-cost, high-quality manufacturing is performed at modern, well-equipped production facilities in Asia resulting in fast quote and production turnarounds and competitive global pricing anywhere in the world, whether for blanket order programs or for small sample lot and production orders. The company offers a comprehensive product portfolio and a wide range of process capabilities fully supported by accredited and certified laboratory facilities.
PennEngineering, founded in 1942 and recognized as a global leader in the fastening industry, operates fastener manufacturing facilities and key sales offices in North America, Europe, and Asia and is supported by a worldwide network of authorized engineering representatives and distributors.
National Sales Manager