Precision Equipment Company, Inc.

The Precision Equipment Co., Inc.; Cincinnati, Ohio, USA was incorporated on June 30, 1919 by Thomas E. New. In mid-1920 it became licensed to manufacture regenerative receivers under Armstrong's patent, and sold them using the "Ace" trade name. The firm manufactured and sold regenerative radios until 1922, when Powel Crosley, Jr. purchased Precision Equipment Company in order to produce licensed regenerative receivers which performed better than the Harko receivers his Crosley Manufacturing Company was making at the time. After the purchase, the Precision Equipment Company relocated to the same location as Crosley. It continued until 1924 to produce its Ace radio receivers.

In January 1924, the two companies were combined into the Crosley Radio Corporation.