About Us 2018-05-12T14:37:06+00:00

About Us

Single-source Ultra Precision Extrusion® and Manufacturing Services

Exact Manufacturing is an ESOP and is ISO-9000. What do they mean for you?

Sure we’re a group of engineers, extruders and machinists. But we’re so much more!

The Exact difference starts the moment you contact us and continues well after you receive your order. If you’ve never been treated the Exact way, you’re in for a surprise! You’ll be put in touch with someone who speaks the technical language you demand and who can get your project through in half the time it takes other extrusion manufacturers.

That’s why customers who work with us once come back again and again. They trust us to finish their job on time, on budget, every time.

If what we do sounds like what your looking for, we should talk. Find out what the Exact difference means for your business and contact us today!

To prosper in today’s global economy, companies must set themselves apart. We strive to deliver competitive advantages that help you unlock value and outperform your competition.

Exact is a leading provider of Ultra Precision Extrusions®, machining and lean manufacturing solutions to some of the world’s most innovative companies. Our comprehensive engineering, manufacturing, fulfillment, and service platform is tailored to provide you the best value.

Our company is both vertically and horizontally integrated. Vertically, our capabilities include engineering, sourcing, extruding, manufacturing, welding, painting, and assembling products to satisfy your needs. On a horizontal scale, we provide a wide variety of processes to manufacture precision parts.

By developing expertise in several key industries, we provide you with innovative, timely, and cost effective solutions. We serve leading original equipment manufacturers (OEMs) in the following markets:

  • Aerospace
  • Computer and Electronic Equipment
  • Military
  • Heatsinks
  • Engineered Products
  • Medical Equipment and Devices


To Satisfy Customers Worldwide and Better the Lives of Our Employee Owners.


To Become a Supplier of Choice in the Global Supply Chain; Providing Value Added and Competitive Manufacturing Solutions.


  • Operate our business with honesty, integrity, and trust.
  • Maintain a healthy, challenging, and open work environment for our employees.
  • Generate financial security for our owners, who are also our employees.
  • Invest in advanced manufacturing, product, and service technologies.
  • Provide the products and services that help our customers succeed.

Key advantages for you:

  • Ultra Precision Extrusions®
  • Single-source lean manufacturing solutions
  • Accelerated product development
  • Advanced equipment, technology, and processes
  • Technical and skilled workforce
  • Customer-focused employee ownership

  • Exact Manufacturing is a division of Lou-Rich, which is an Innovance Company
  • Innovance is organized as a holding company with three subsidiaries:
  • Innovance (innovanceinc.com)
  • Lou-Rich (lou-rich.com)
  • Almco (almco.com)

We Operate in four facilities:

  • Albert Lea, Minnesota (3)
  • Hayward, Minnesota

Lou-Rich divisions:

  • Exact Manufacturing (exactmfg.com)
  • Contract Engineering and Manufacturing (lou-rich.com)
  • Panels Plus (panplus.com)
  • Facility floor space: 400,000+ sq. ft. (37,000+ sq. m)
  • Employees: 400+
  • Annual revenue: $75+ million
  • Facilities are centrally located at intersections of major interstates for better logistics support.
Company History:

1972 – Lou-Rich Machine Tool, Inc. founded by Louis Larson and Richard Ackland
in Hayward, MN1989 – Acquired Albert Lea facility and established headquarters1992 – Formed ESOP (employee ownership)1993 – Name changed to Lou-Rich, Inc.1998 – Acquired Exact Manufacturing division
– Became ISO 9000 registered by UL

2001 – Acquired Panels Plus division

2004 – Established Innovance, Inc. as holding company
– Acquired Almco, Inc. subsidiary

2006 – Opened assembly facility in Albert Lea, MN