Yesterday, Today and Tomorrow
Customer Oriented History
Precision, Inc. was incorporated in 1919. Our history since then has been characterized by growth, innovation, and remarkable results.
- Currently, there are eight engineers domestically, and two located in Asia, to maintain consistency in design and manufacturing standards. Every Precision site, domestic or offshore partner, meets the same manufacturing and regulatory standards.
- Purchased a building to expand manufacturing and customer support capabilities in Minneapolis, Minnesota.
- Expanded manufacturing capability in Colorado by moving into a newly leased building in Loveland, Colorado.
- Currently, there are approximately 135 domestic and 1,200 employees at our offshore partners' location to provide ample demand for additional capacity.
- Expanded ERP system with the implementation of Vantage Software created by Epicor Software Solutions.
- Opened a Seattle, Washington, engineering and sales office in 2000.
- Implemented Demand Flow® Technology in 1996, in which product design, manufacturing, and delivery all happen according to customer demand.
- Expanded manufacturing facility, 1996, in Fort Collins, Colorado, to focus on larger laminated transformers, inductors, and chokes.
- Established Asian manufacturing partner to expand capabilities in 1995.
- Established Central American manufacturing partner to expand capabilities in 1993.
- Opened western US office and manufacturing facility in 1992.
- Began designing magnetic components in 1964.
Demand Flow® is a registered trademark of John Costanza Institute of Technology.
These have all been important milestones in Precision’s development as an engineering-driven, customer service-oriented company. Today, we continue to offer our customers engineering services in addition to competitive pricing and value-added services—a unique combination that no commercial off the shelf (COTS) catalog supplier, domestic or offshore can match:
Precision is responsible for:
- Engineering - Working with the customer’s engineers.
- Manufacturing and delivery of product according to customer operations using Demand Flow, kanban, and other scheduling and inventory methods.
- Product quality.
- Production and delivery to offshore customer locations, a true International component supplier
- Expansion beyond component manufacturing to include power management and sub-assembly capabilities.
Why should you care that Precision, Inc. is a healthy and growing company? Like everything else in our company, it’s a matter of customer service. When you call us needing a specific magnetic component, we want all of our capabilities ready to jump on your request. We can only do that since Precision is a well-managed, financially stable company.
Precision, Inc. is a privately held company. Revenues have increased at double digit rates per year during the last 20 years. Growth has been driven by a successful customer base, new customers, increased order sizes, and a million-dollar investment in new equipment and other capital expenditures since 1992. Our financial ratios have either improved or remained relatively constant, and compare favorably to industry statistics.
Contact Precision today for magnetic component manufacturing.