New Bedford Plant Being Sold to Chinese Company
A Chinese manufacturing company will soon be taking ownership of a New Bedford based plant.
The Acushnet Rubber Company, operating as Precix Manufacturing, has entered into an agreement with Ohio-based ZD USA Holdings Incorporated. The Chinese company manufactures rubber sealing parts for the automotive and heavy industrial industries.
Precix CEO David Slutz tells WBSM News ZD will greatly boost Precix's business dealings in the Asian market.
Slutz says the sale will allow Precix to continue to operate in an autonomous fashion, with ZD providing the necessary capital for Precix to expand it's manufacturing capacity.
ZD aims to raise Precix's fiscal earnings by $25-million over the next four years.
Complete details on the deal are not yet available, but the sale is expected to close before the end of the year.