Fastener Update Precision Castparts to acquire Cherry Aerospace U.S.-based Precision Castparts Corp. announced that it has agreed to acquire Cherry Aerospace LLC from Acument Global Technologies, for $300 million. Founded in 1939, Cherry is one of the leading manufacturers of aerospace rivets and blind bolts, a press release said. It noted that Cherry’s products, which are primarily used in structural applications, are found on all major commercial and military aircraft in production or development today. The company has approximately 500 employees at its facility in Santa Ana, California. Cherry encompasses the aerospace operations of Acument, formerly Textron Fastening Systems. “Cherry has been one of our top ‘tuck-
in’ targets since our acquisition of SPS Technologies,” Precision Castparts Corp. Chairman and CEO Mark Donegan said in the release. “As with Air Industries and Shur-Lok, Cherry will fill a significant gap in SPS’s product line of critical aerospace fasteners. Cherry rivets and blind bolts, respected throughout the aerospace industry, are frequently specified by brand name on customers’ original blueprints. In addition, this acquisition continues to grow our presence in Southern California, opening up potential synergies and economies of scale with our other fastener operations.” Subject to regulatory approvals, the acquisition is expected to be completed in the fourth quarter of fiscal year 2007, the
Nylok Canada notes 10th anniversary Nylok Canada Inc. is celebrating its 10th anniversary, noting that it has gone far from its start “from square one” in a 9,000 sq ft building Mississauga, Ontario, to its modern 33,000 square-foot headquarters/ manufacturing facility in Brampton, Ontario. In a press release,Nylok Corporation President Max F. Dorflinger credited the Canadian subsidiary for “making Canadian fastener manufacturers more competitive in pricing and enabling them to export their products throughout the world.” Nylok Canada was established to meet increasing demand for the self-locking NYLOK® TRUE BLUE® nylon patch and NYCOTE® White Teflon® powder coating from manufacturers in Ontario and Quebec, including many automotive man-
ufacturers who were previously served by Nylok facilities in the United States, the release said. Nylok Canada has been a major success story for Nylok Corporation, a member of the Marmon Group, and a leader in valueadded fastener products, the release said. It noted that Nylok holds more patents for innovative fastener technology than any other company, and has built a reputation throughout the world for developing new products that solve assembly challenges. The company began with one employee, General Manager Nilo Urbani Jr. Three of the first four employees to join Mr. Urbani in 1996 are still with the company, including shift supervisors Wayne Bennett and Juan Cochrane and inside sales manager Lucia Rodrigues, the release said.
Barnes Group unit expands in China The Barnes Distribution business unit of Barnes Group Inc. announced the expansion of its AS Raymond operations in China with the opening of a dedicated office and distribution center in the Pudong New District of Shanghai, China. A press release said that the new facility will service the growing market for close tolerance components, such as industrial 32 WIRE JOURNAL INTERNATIONAL
and mechanical springs within China. In addition to industrial springs, AS Raymond provides components to industries that include fasteners. “With the expansion of our distribution operation into China, we are strengthening our presence in a growing manufacturing center in Asia…,” said Idelle K. Wolf, president, Barnes Distribution.
release said. In other news, Precision Castparts Corp., worldwide, diversified manufacturer of complex metal components and products, reported that its aerospace fastener sales grew approximately 30 percent year-overyear. “The segment’s critical aerospace fasteners, already well-positioned on the “right” aircraft platforms, continue to deliver improved performance, drive operating margins, and score additional share gains, while sales of engineered fasteners, which primarily serve North American automobile manufacturers, were relatively flat year-over-year,” the release said.
Jergens opens site in Shanghai U.S.-based Jergens, Inc., a manufacturer of high-precision standard tooling components that include fasteners, announced that it has opened Jergens Shanghai Commercial Co., Ltd., to represent and distribute its products in China. Jergens, Inc., has four operating divisions: Jergens Tooling Component Division (TCD), which manufactures workholding products, mechanical and power clamping systems, specialty fasteners, and lifting accessories; Acme Industrial Company, which manufactures precision drill bushings and keylocking threaded inserts; Jergens ASG Division, which is a supplier of products for light assembly, including torque-controlled electric screwdrivers, automation products, production aids, and inspection and testing equipment; and Jergens Industrial Supply (JIS), which distributes 150 brands of tooling, workholding, and metalworking products. Jergens Shanghai, located in Pudong, Shanghai, provides product information and facilitates ordering for Chinese customers as well as arranging import and export trading, the release said. In other news, the company reported that it has released a new Chinese catalog featuring Jergens’ product lines. ■