Precix (www.precixinc.com) is a leading privately-held manufacturer of mission critical O-rings and high performance custom molded elastomeric seals to the global automotive, aerospace, energy, and industrial end-markets. Founded in 1910, Precix’s success is attributed to its vast in-house capabilities including a full rubber material science R&D system, a complete mold design and production center, a specialized processing plant, and a sophisticated lab and parts testing center. The Company’s 350 employees produce over 1 billion parts per year from its single manufacturing facility in New Bedford, Massachusetts.
Zhongding Sealing Parts (USA), Inc. (www.zhongdinggroup.com) is part of the Chinese headquartered Anhui Zhongding Holding Group of companies. This group is an international engineered rubber parts manufacturer for automotive and heavy industries with 20 facilities across the globe employing more than 11,000 associates. Precix will be ZD’s fifth elastomer sealing plant in the US; joining facilities in Cadillac, Michigan; Hannibal, Missouri; Strasburg, Ohio; Laconia, New Hampshire; and a North American distribution center in Monroe, Michigan.
Acushnet Rubber Company, Inc. d/b/a Precix (New Bedford, Massachusetts) announced that it has been acquired by ZD USA Holdings, Inc., a subsidiary of Zhongding Sealing Parts (USA), Inc. (“ZD”). This transaction is the successful culmination of an initiative led by The Bigelow Company LLC on behalf of Precix to proactively seek out the “Best New Majority Shareholder” for the Company.
“Precix is a world-class company operating in a global economy. We have positioned Precix as the most trusted name in fuel seals, O-rings, and custom elastomer solutions. Combining with ZD will promote Precix’s market position and further our international expansion and brand. We see this bringing continued investment into our company and our people as ZD seeks to strengthen Precix’s global presence.” David Slutz, President and Chief Executive Officer Precix
“Precix produces very high quality sealing products through its unique set of manufacturing capabilities and sells to a long-term steady customer base. The current Management Team has successfully grown and improved the performance of the business dramatically and we are excited to support the continued expansion. ZD’s global footprint and complementary product offering will help accelerate Precix’s growth and improve our customer relationships.” Steve Seketa, General Manager Zhongding