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03 Dec 15. Tech Industries Announces the Acquisition of Precision Machine & Manufacturing Company, LLC and Precision Components Company, LLC a manufacturer of structural components and subassemblies. 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:
• Talented and Loyal Employee Base
• World-Class Customers
• Sub-Assembly Solutions
• Complex Machining of Large Monolithic Parts
• Integrated Kitting
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.
02 Dec 15. UTC Aerospace Systems acquires N2 Imaging Systems. UTC Aerospace Systems announces it has acquired N2 Imaging Systems, LLC (“N2”) of Irvine, California. The acquisition will complement the UTC Aerospace Systems’ intelligence, surveillance and reconnaissance business and add new technology to the company’s extensive portfolio of capabilities supporting the U.S. Military across the full spectrum of global strategic, operational and tactical operations. UTC Aerospace Systems is a unit of United Technologies Corp. (UTX).
UTC Aerospace Systems’ commitment to the U.S. Army’s Reconnaissance, Surveillance and Target Acquisition (RSTA) mission is enhanced by the acquisition, ensuring the company’s capabilities continue to support the Army’s strategic equipping plans.
“The addition of N2 reflects our unwavering dedication to rapidly developing the most advanced imaging technology at an attractive price to support the RSTA mission now and in the future,” said John Trezza, Vice President and General Manager of UTC Aerospace Systems’ Force Protection business. “Adding our experience in designing, developing and fielding sophisticated technology to the innovation of N2 will further support on-time execution of the Army’s Enhanced Night Vision Goggle (ENVG) program.”
UTC Aerospace Systems brings to the ENVG program an exceptional track record of