“This decision was the result of business conditions specific to the Florida Division and is not a reflection on the financial condition of the corporation, which remains strong,” commented Jim Flynn, Sales and Marketing Director.  Florida Division production was moved to Precision Resource’s Connecticut Division, which has all the same fineblanking presses that were running in the Florida plant and has ample open capacity to handle the transferred business.  Some job-specific secondary processing equipment was transferred from Florida to Connecticut.

Precision Resource notified all Florida Division customers in early November 2006 in order to allow time for the necessary planning and communication to ensure a smooth transition.  Customers were then contacted directly to discuss their immediate production requirements.  The company built a bank of inventory prior to the transfer of tooling and materials in order to meet all customer near-term requirements. 

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 division also employs a wide array of secondary finishing technologies, including double disc grinding, fine-grinding, honing, and 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 production facilities in the United States, Canada and Mexico.  In addition to the facility in Connecticut, which also houses the corporate headquarters, the company operates plants in Huntington Beach, CA; Vernon Hills, IL; Mt. Sterling, KY; Cambridge, Ontario; and Kitchener, Ontario; and Saltillo, Mexico.  For more information regarding the company, visit www.precisionresource.com.