York-based manufacturer Precision Custom Components LLC has joined with DC Fabricators Inc. in New Jersey under Precision Components Group, a private holding company that now owns 100 percent of the businesses.
The move was effective Oct. 28, according to a news release.
President and CEO Gary Butler, from PCC, will have operational and financial performance responsibilities for both companies.
The purpose of the combination is to facilitate innovation for increasing value for customers, which is essential for both companies’ success, the release stated.
Both companies will operate independently and no workforce changes are anticipated, but they do hope to take advantage of economies of scale, the resources and expertise the two firms can share, and marketing opportunities, said Art Hendrix, vice president of human resources for Precision Custom Components.
Hendrix said the holding company is a “structuring vehicle” to have the firms operate in an efficient way.
Precision Custom Components is a manufacturer of custom fabricated heavy pressure vessels, reactors, casks and heavy-walled components for nuclear, commercial and government applications, according to the release.
DC Fabricators designs and manufactures steam condensers and heat exchangers for government and commercial applications, the release stated.