PWI, Inc., formerly known as Precision Winding, Inc., was founded in 1963 by Miklos (Miki) Lorik. Miki was a Hungarian immigrant who fled Hungary during the Hungarian Revolution of 1956 along with his wife-then girlfriend-and her family to build a better life. Miki modified his wife’s sewing machine to begin his coil winding business, creating small, precision wire-wound resisters. As his business began to grow, Miki purchased more modern and advanced winding machines.

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