Precision Foundry of the Philippines, Inc. (PFPI) is a company engaged in the manufacture of precision investment castings. It started commercial operations in January 1988 as Altair Tools International Corporation. The principal stockholders of PFPI are co-owners of Arms Corporation of the Philippines (Armscor). Armscor is a company engaged in the manufacture of firearms and ammunition which have been sold worldwide for the past 30 years. The company was initially established to produce firearm components for its sister company, Arms Corporation of the Philippines (Armscor). It however has expanded its market base to include parts for the automotive industry, machinery parts, high heat-resistant steels for industrial boiler, parts for dental equipment, furniture accessories, art pieces such as brass sculpture. Capitalizing on its relationship with Armscor. PFPI can also provide the machining and finishing of precision parts that it produces and do the assembly of these when so required by the customer.