1/5/2015 12:11:00 AM
HEADLINES
Bossard Buys 60% Stake in Torp Fasteners
The Bossard Group acquired a 60% stake in the Norwegian Torp Fasteners company for an undisclosed sum. The remaining 40% of ownership will remain with the previous owners and management.
“We are already well-established in Denmark and Sweden,” commented Bossard CEO David Dean. “Torp Fasteners will now contribute substantially to an improved market position of the Bossard Group in Scandinavia.”
Located in Oslo, Torp Fasteners has operated as an independent company since 1974. Products include complex fastening technology made of plastic, as well as riveting solutions, special fasteners and locking devices.
Torp Fasteners generated an annual turnover of about CHF 10 million and has 16 employees.
The deal comes weeks after Bossard signed a contract to acquire Arizona-based distributor Aero-Space Southwest, expanding its presence in the U.S. Bossard Group’s U.S. businesses generated net revenues of CHF133 million (US$137.1m) in 2013.
Züg, Switzerland-based Bossard Group is an international supplier industrial fasteners and assembly technology, with over 800,000 products, technical consulting and warehouse management.
Bossard has more than 1,800 employees in over 60 worldwide locations. The Bossard Group, listed on the SIX Swiss Stock Exchange, earned CHF 609.7 million (US$628.7m) in sales in 2013. Web: Bossard.com
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