Precision Technologies Group

Precision Technologies Group or PTG is a British machine tool producer with its headquarters located in Milnrow, near Rochdale, Greater Manchester. The Group was set up in 2006 with the aim of bringing together a group of British machine tool and component manufacturers. Precision Technologies Group employs over 225 people, 175 of which are based in Rochdale. PTG recorded revenues of approximately £26m GBP in 2012.
History
In 1860, John Holroyd founded the Holroyd company in Hulme, Manchester. He worked with Joseph Whitworth - a famous engineer known for his standardisation of 'British Standard Whitworth' screw threads. Joseph Whitworth's nephew Joshua became a director of Holroyd, and helped establish the company as a manufacturer of many types of machine tools and textile equipment.
CQME Takeover
In June 2010, Precision Technologies Group was acquired by Chongqing Machinery and Electric Co. Ltd. (CQME) in a £20m takeover. CQME is listed on the Hong Kong stock exchange and operates in four main segments: special purpose parts and components, compressors and power equipment, CNC machine tools and general machinery.

The deal involved the sale of Holroyd Precision, Precision Components, PTG Heavy Industries, Milnrow Investments, PTG Advanced Developments and PTG Deutschland which all became subsidiaries of CQME.

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