In 1958 Chemtex was founded as a procurement and construction company specializing in project development for the petrochemical, polymers, fibers, energy, biofuels, and environmental industries. In 1974 Chemtex established Olympic Fibers S.A. in Heredia, Costa Rica, a company dedicated to the production of polyester yarn among other specialty fibers.

Chemtex acquired William Smith Enterprises in 1981 as manufacturing subsidiary to support its engineering operations. Located in Coopers Mills, Maine, William Smith Enterprises specializes in the production of precision components through CNC machining and a variety of manufacturing processes.

In 1999, Mitsubishi Group acquired Chemtex while William Smith Enterprises and Olympic Fibers S.A. remained privately owned.  Since then, William Smith Enterprises continued to grow by expanding its manufacturing services and becoming a major supplier of precision components for hydraulic and fuel systems for the aerospace industry.

Due to its continued success, William Smith Enterprises expanded its operations to Costa Rica in 1996, establishing Olympic Precision Machining, a jointly owned subsidiary within the facilities of Olympic Fibers S.A.

Since 1996, Olympic Precision Machining has continued to grow, providing complete capabilities from the procurement of raw material to the delivery of finished product. In addition to its extensive expertise in CNC machining operations, in2003 OPM established in-house plating and finishing services as well as assembly operations, offering increased support to its customer base.

With extensive expertise in CNC machining operations and through process expansion and continuous imrpovement, OPM has become a leading contract provider of precision CNC machining and plating services to major manufacturers in a variety of industries, including aerospace, telecommunications, industrial and medical.