VIRTEX Acquires Precision Technology Inc. (PTI)
Expanding and enhancing its Military and Aerospace capabilities
AUSTIN, Texas, December 16, 2019 (Newswire.com) - VIRTEX, a leading vertically integrated electronic manufacturing services provider headquartered in Austin, Texas, is pleased to announce the acquisition of Precision Technology (PTI).
PTI’s single-facility location in Plano, Texas has grown its long-term relationships with key defense customers in the region to expand to various regions across the U.S. With over 20 years of service within the EMS industry, PTI is known for its rapid response manufacturing of mission-critical products in a high-mix, low-volume production environment.
Brad Heath, CEO of VIRTEX, commented, “Precision Technology expands VIRTEX’s NPI and ultra-low volume capability into the Texas aerospace and defense corridor, enhancing our relationships with key military customers. PTI also expands our expertise in flex and rigid-flex board assembly within the VIRTEX platform, which will be beneficial for our existing customers. Adding PTI to the VIRTEX platform enhances the services and capabilities within the Southwest region and expands VIRTEX’s commitment to provide both dedicated NPI capabilities, as well as volume manufacturing with each of our geographic markets.”
Jeff Diora, CEO of PTI stated, “Being a part of VIRTEX allows us to pursue programs that require greater working capital and geographic reach where we have been unable to compete before. We are also excited about the additional services in engineering development, precision machining and space and satellite capability that will come from being part of the VIRTEX family. This is a great fit for both our employees and our customers.”
About VIRTEX Enterprises
VIRTEX manufactures printed circuit board assemblies and other critical electronic systems for small- and medium-sized customer programs across a wide range of industries, including: industrial, aerospace and defense, automotive, and medical. By providing a focused market-segment approach, VIRTEX can bring greater value and innovation to its customers, improve OEM competitiveness, and deliver comprehensive, tailored solutions that are specific to each customer. VIRTEX is based in Austin, Texas, with additional manufacturing facilities in Wisconsin, Massachusetts, Virginia, New Jersey, New Hampshire, New Mexico and Juarez, Mexico.
About Precision Technology Inc
Precision Technology Inc. (PTI) is a leading electronics manufacturing services (“EMS”) company, located in Plano, Texas, which provides assembly and test of highly reliable electronic assemblies to leading aerospace, defense, medical and industrial electronics companies. With over 20 years of service within the EMS industry, PTI is known for its superior quality manufacturing of mission-critical products in the low-to-medium volume production environment.
Categories: Production and Manufacturing