NEW BEDFORD, Mass. (Oct. 17, 2012)—ZD USA Holdings Inc., a subsidiary of Strasburg, Ohio-headquartered Zhongding Sealing Parts (USA) Inc., plans to purchase Precix Inc. to expand its growing operation in the U.S.
Precix is an engineering and manufacturing company that produces high performance sealing parts, primarily for the automotive, aerospace, energy and industrial markets.
Zhongding Sealing Parts—which is the U.S. arm of the Anhui Zhongding Holding Group, an international engineered rubber parts manufacturer for the automotive and heavy industrial industries based in China—will gain a company that produces high quality sealing products through a unique set of manufacturing capabilities with a long-term steady customer base via the acquisition, said Steve Seketa, general manager of Zhongding.
The purchase will promote Precix's market position and further its international expansion and brand, according to David Slutz, president and CEO of New Bedford-based Precix.
The transaction is expected to close in December.