Raute Precision´s former parent company, a small engineering workshop began operating in 1908 under the name of Lahden Rauta- ja Metalliteollisuustehdas Oy (later Raute Oyj). The workshop concentrated initially on constructing inland waterway vessels and manufacturing steam boilers and engines.

Production of scales began in 1914.

The scales were decimal balances and platform scales used at home and in shops. Heavier warehouse and railway carriage scales were introduced in the 1930s, marking a reorientation of scales production towards a new industrial market.

In 1943 the scales division moved into its own factory under the name of Lahden Vaaka Oy. In the 1960s Lahden Vaaka began project deliveries involving the supply of entire weighing stations for the process industry. Deliveries to the glass factories and building material industry started. The company also began to export its products at this time.

In 1985 Lahden Vaaka became Raute Punnitus ja Automaatio and in 1988 it changed the name to Raute Precision. The group took great strides in the 1990s, branching out strongly into exports. While in 1992 exports accounted for just 20 per cent of turnover, they have since risen to as much as 80 per cent.

In February 2004, the funds managed by Eqvitec Partners and the management of Raute Precision acquired Raute Precision Oy's shares from Raute Oyj.

In the beginning of October 2006, the company name was changed to Lahti Precision Oy