Like many American stamping companies, Precision Metal Works was founded by a returning World War II veteran. George Lenz, entrepreneurial to the core and a Louisville native, bought his first screw machine and put it in his garage. One machine led to two, then four and so on. Screw machines ultimately morphed into stamping presses as the business grew and prospered.
In the 1970's, the first generation of Lenzs' gave way to the second. By the early 1990's, the company know as nth/works was a multimillion-dollar business with two plants focused mainly on the appliance industry. The Lenz family decided that they needed to diversify beyond appliance manufacturing. Precision Metal Works (nth works) took its appliance experience and expertise and began targeting automotive clients. The family sold the business in 1999 to Elemex.
Precision Sold to Elemex
Bartell Global acquires control of Precision Metal Works (PMW), Louisville, Ky
PMW acquires Frankfort, Ky Operations
Live Ventures Incorporated (Nasdaq: LIVE) announced the acquisition of Precision Metal Works, Inc. for approximately $28 million. The acquisition enhanced earnings and strengthened Live Ventures' steel manufacturing segment, aligning well with the company's long-term strategy. For full press release, click here.
Integrity
We show integrity in everything we do. We treat every employee with dignity and respect. We are committed to act in a legal and ethical manner.
Ownership
We demonstrate ownership by putting the good of the whole, above personal gain; building an environment of openness, trust, and cooperation; taking responsibility for our own actions, and the actions of our business.
Innovation
By encouraging every employee to take risks, we aggressively challenge every aspect of our business and make it better. We never become satisfied or arrogant with our success.
Quality
The ability to meet or exceed expectations or requirements to both internal & external customers.
- Right part, the first time, with high repeatability
- Reduce variability
- Reduce/eliminate defects
- Mindset of achieving uniformity
Delivery
- Giving the internal & external customer precisely what they asked for at the time they specified, not more or less.
- Being consistent while minimizing inventory
Effectiveness
is the combination of efficiency & being effective; meeting or exceeding the intended or expected results by accomplishing a task with the least waste of time, effort & resources.
- Replaces efficiency
- The number of good pieces we made and delivered to the customer for the hours we paid for
Safety
Minimize or eliminate the potential of an incident/accident which can cause harm to people, equipment or resources.
- Fundamental commitment to having employees not get injured on the job
Waste Elimination
- Eliminating every step, process, or material usage that does not add value
Housekeeping
- Most fundamental of all principles.
- The discipline to plan, implement, and maintain order in process.
- “A place for everything and everything in its place.”
