British firm buys Minnesota transformer maker

Precision Inc., a company based in Brooklyn Center, Minnesota and producing electric transformers and magnetic components for manufacturers of all stripes, has been sold to TT Electronics, a British maker of microchips and other electronic parts.

TT wishes to expand Precision’s sales reach in Europe and Asia and increase manufacturing and supply chain capabilities in Asia, reports Star Tribune.

Workers at the Brooklyn Center manufacturing plant are to keep their jobs

Source: Star Tribune