Precision Resource

PR Acquires Slovenian Fineblanking Operation

Shelton, CT – November 1, 2017 – Precision Resource, Inc., a leading supplier of precision metal components manufactured with fineblanking technology, today announced that it has acquired the fineblanking assets of Hidria Rotomatika d.o.o. in Spodnja Idrija, Slovenia. The new company will be known as Precision Resource d.o.o. In cooperation with Hidria Rotomatika, the company will continue to run the fineblanking operation in the Hidria facility while it locates and develops a new facility nearby.

Hidria has developed a reputation as a reliable, high quality and technically advanced supplier of fineblanked components to the European automotive industry. Their main applications are in the seating, powertrain, and hardware markets.

“We are excited to add the experienced and dedicated employees of Hidria’s fineblanking operation to the Precision Resource team,” said Peter Wolcott, Managing Director of Precision Resource, Inc. “We share a deeply rooted quality culture and a commitment to customer satisfaction that should ensure a smooth integration of the Slovenian operation into Precision Resource. Slovenia is an ideal location from which to supply our customers with European operations.”

The addition of the Slovenia operation allows Precision Resource the ability to support its customers with local production on three continents – North America, Asia, and Europe.

Fineblanking is a high precision metal forming process used extensively in automotive, heavy duty, electronics, medical, lawn and garden, and general industrial applications. This unique process creates parts with very tight dimensional tolerances, excellent flatness, and with very little variation from part-to-part throughout long production runs. These characteristics lead designers to specify fineblanked components for their most critical applications.

Founded as Fairfield Tool Company in 1947, privately held Precision Resource has grown to one of the leading suppliers of fineblanked components in the world. Precision Resource also has a tremendous range of value-added finishing capabilities that enable it to provide completed components and assemblies to their customers. These capabilities include CNC machining, honing, grinding, fine-grinding, plastic over-molding, heat treating, automated assembly, and laser cutting.

In addition to the new operation in Slovenia, Precision Resource has six production facilities in North America, one in China, and a Technical Center in Canada. The company operates facilities in Huntington Beach, CA; Shelton, CT; Mt. Sterling, KY; Vernon Hills, IL; Cambridge, Ontario; Saltillo, Mexico; and Hangzhou, China. For more information regarding the company, visit www.precisionresource.com.

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1. Intended Recipients

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Electronic communications are intended as a convenient way to exchange information, but are not intended to create any legally binding obligation on Precision Resource.

No employee, representative, or agent of Precision Resource is authorized to conclude any legally binding agreement, or make any legally binding representations or warranties, on behalf of Precision Resource by electronic communication (other than through authorized EDI transactions) without the express written confirmation of an officer or director of Precision Resource. Any representation to the contrary may not be relied upon by the recipient of the electronic communication. Any electronic communications sent to Precision Resource purporting to legally bind Precision Resource in any way shall have no force or effect. Precision Resource’s

Standard Terms and Conditions, available at www.precisionresource.com, apply to all electronic communications.

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Any information contained in electronic communications and any attachments thereof relating to the business of Precision Resource or any of its employees, shareholders, customers or suppliers is confidential and may be privileged.

Any such information shall not be disclosed to any third party or used for any purpose other than the purpose intended by the Precision Resource sender and is subject to the confidentiality provisions contained in Precision Resource’s Standard Terms and Conditions, available at www.precisionresource.com. The inadvertent misdirection of an electronic communication containing confidential or privileged information shall not constitute a waiver of Precision Resource’s rights with respect to such confidentiality (including trade secrets) or privilege. Any electronic communication from a Precision Resource sender to or from its legal counsel, including in-house legal counsel, shall be presumed subject to the attorney-client privilege even if others are copied on such communications.

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Information, views and opinions contained in an electronic communications express the opinion of the sender and not necessarily the opinion of the Company. Precision Resource policy prohibits the use of electronic communications in any harassing, illegal or discriminatory manner or that infringes or violates the rights of others. Any communications contrary to such policy are not authorized by Precision Resource and are outside the scope of employment of the sender. The company will not accept any liability in respect of any such communication. Email communications to and from Precision Resource may be monitored to ensure compliance with internal policies.

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By its nature, electronic communication is subject to risk. Electronic communications are not secure and cannot be guaranteed to be error free as they can be intercepted, delayed, mis-directed, amended, altered, corrupted, lost or destroyed. Additionally, although Precision Resource takes reasonable and customary measures to ensure that outgoing electronic communication is free of virus infection, such infection remains a possibility. The recipient should check any electronic communications and any attachments for the presence of viruses. Precision Resource accepts no liability for any intercepted, delayed, mis-directed, amended, altered, corrupted, lost or destroyed messages, any errors or omissions in the content of any electronic communication, or any damage caused by viruses resulting from electronic communications from Precision Resource.

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