PRECISION GROUP MEDIA RELEASE
23 November 2016

Clarification of Past “Precision Group” Usage
 
As a result of some recent enquires to us requesting details of the history of “Precision Group” we considered it appropriate to issue this Media Release.

Previously, individuals on occasion used the name “Precision Group,” and sometimes “Precision,” to refer to Precision Group of Companies Pty Ltd, Precision Investment Corporation Pty Ltd, and both Precision Group of Companies Pty Ltd and Precision Investment Corporation Pty Ltd together.

That informal naming convention was not clarified in the past as a matter of convenience and practicality. Precision Group of Companies Pty Ltd and Precision Investment Corporation Pty Ltd were working together on projects in Adelaide and used one name for both companies. As a result of this, some journalists stated that Shaun Bonétt and Ross Makris formed “Precision Group”.

This is a misnomer that needs to be corrected. Ross Makris founded Precision Investment Corporation Pty Ltd, whereas Shaun Bonétt founded Precision Group of Companies Pty Ltd. “Precision Group” is an Australian business name and registered Australian IP trade mark owned by Precision Group of Companies Pty Ltd (See the link below to the registration certificate).

Precision Investment Corporation Pty Ltd was involved in the purchase of certain Adelaide properties alongside Precision Group of Companies Pty Ltd, however Ross Makris was never involved in the management, ownership, or operation of Precision Group of Companies Pty Ltd.

Articles that stated that Shaun Bonétt and Ross Makris founded Precision Group were referring to two separate companies with similar names that were working together. Ross Makris did not co-found Precision Group of Companies Pty Ltd. Shaun Bonétt did not co-found Precision Investment Corporation Pty Ltd.

Shaun Bonétt founded Precision Group of Companies Pty Ltd. Ross Makris founded Precision Investment Corporation Pty Ltd. Precision Group of Companies Pty Ltd and Precision Investment Corporation Pty Ltd are two separate entities and each was founded by these different individuals. At the time, the companies were working together to purchase properties in Adelaide. It was convenient to refer to both companies together with the same name.

Since then, the two companies no longer purchase properties together or have any ongoing business relationship that would deem them to be “working together.” In any event, Precision Investment Corporation Pty Ltd that was founded by Ross Makris no longer exists and has been deregistered.

For journalists who used “Precision Group” in the past to refer to both Precision Group of Companies Pty Ltd and Precision Investment Corporation Pty Ltd, these articles should be qualified to note the companies as two separate entities, each having been founded by different individuals, that the companies were working together for a limited time, and that the past usage of “Precision Group” was loosely referring to both companies as a whole.

For media enquiries please contact:
Mrs Leanne Rose
Precision Group Ph: (02) 9225 1400

Precision Group Trade Mark