New product line comes with the acquisition of Precision Parts of Australia.
TULSA, Okla. – Dayco Products is continuing its expansion activities into the harmonic balancer manufacturing market with the acquisition of Precision Parts Pty. Ltd. The company will now operate under the name Dayco Precision Holdings Pty. Ltd.
This is the second acquisition for Dayco announced this month. On Sept. 10, the company announced it has acquired Metavation and the damper portion of EPTEC from Revstone.
Precision Parts is an Australian-based manufacturer of harmonic balancers, performance balancers and engine idler pulleys, as well as a supplier of overrunning alternator pulleys for the automotive aftermarket industry and possesses one of the world’s largest ranges of automotive harmonic balancers.
Increasing demand for new balancers in the worldwide automotive market has allowed Precision Parts to invest in tooling to produce an extensive range of new products marketed under the POWERBOND brand. Precision Parts also manufactures NULINE engine pulleys with a manufacturing range that has grown rapidly since its inception.
Dayco will now add harmonic balancers to its line of automotive aftermarket products, which includes serpentine belts, v-belts, timing belts and timing component kits, tensioners, pulleys and hose. Following the recent acquisition of Metavation as well as the damper portion of EPTEC from Revstone, Dayco is now manufacturing harmonic balancers for both the original equipment market and the automotive aftermarket in all global markets.
“Precision Parts’ POWERBOND and NULINE brands are highly recognized in both the Australian and North American aftermarkets,” said Ed Rammel, president of the North American and Australian aftermarket divisions of Dayco. “We are excited to add this well-respected line of products to Dayco’s current product offering.”
Headquartered in Wagga Wagga, New South Wales, Australia, Precision Parts was established in 1976 and has grown to become the dominant supplier of automotive harmonic balancers and engine pulleys to the Australian aftermarket. The bulk of Precision Parts’ product range is targeted at the standard replacement market, but there also is a market for high-performance balancers globally, according to Dayco.
To cater to this market, Precision launched the POWERBOND performance balancer range utilizing advanced, bonded dampening technology with instant market success both in Australia and in the United States. POWERBOND continues to be the fastest growing balancer brand in the U.S. performance market.
“Precision Parts is a pioneering Australian company that has managed to take its expertise and commitment to quality to major local and international success. We are pleased to make the company an integral part of Dayco Australia’s operations,” said Dayco Australia Managing Director Arnold Mouw.
Dayco will distribute the POWERBOND product lines through its established distribution centers throughout North America.