Robert Peterson Sr. founded the company in 1965 as Precision Gage Corporation, primarily in response to demand for timely delivery of high-precision stock punches at another family-owned company called Laurel Supply Corporation. Laurel Supply was a successful industrial supply business founded in 1946. To meet the demand he had identified at Laurel Supply, Robert Peterson Sr. began to purchase raw bar stock to produce blanks. A local heat treater hardened the tool blanks, a centerless grinding shop ground them, and Laurel Supply then stocked them for sale. Robert Peterson Jr., first became associated with the newly formed Precision Gage during this period.

In 1975, Robert Peterson Sr. retired from Laurel Supply in order to devote his full energies to Manufacturing at Precision Gage. Robert Peterson Jr. also joined the company full-time. Shortly thereafter, Precision Gage’s customers’ demands had outstripped the ability of the local shops to provide sufficient service and precision to meet service requirements. In response to this, Precision Gage internalized all of its machining operations.

In 1980, the company changed its name to Precision Punch Corporation to more accurately reflect its product line. Today, in addition to its extensive regular product line for the Metal Forming, Metal Fabricating and Perforating industries, Precision Punch offers a wide range of custom manufacturing capabilities, including high-precision specialty tooling for a wide range of market segments including Ammunition tooling, Injection Molding tooling, Medical tooling, Pharmaceutical tooling, Dental tooling, Tablet Compression tooling, Tab tooling, Can and End tooling, Fin Die tooling, Battery tooling as well as serving manufacturers supplying the automotive and aviation industry. Additionally Precision Punch Corporation has become the premier manufacturer of miniature parts and components for specialized applications for a wide range of industries serving Electronics, Dental and Biotech manufacturers. Precision Punch occupies over 44,000 square feet of manufacturing space and employs approximately 60+ people manufacturing on two shifts.

In 2016 Precision Punch Corporation acquired Eastern Industries, an established leading manufacturer of catalog and specialty feeler gage products and solutions. The acquisition increases both companies’ product offerings and will enhance Eastern Industry’s manufacturing process with Precision Punch’s advanced systems and processes.