ACQUISITION: Rylands Wire to Close

Jason Sandefur

UK construction fastener and nail manufacturer Rylands Wire Products will complete closing by April, just over a year after moving to a new 54,000 sq ft factory in Speke, near Liverpool. Steve Bell, who had pushed initiatives to shorten the supply chain to merchant customers, has left as Rylands managing director.
Russian wire producer Severstal-Metiz acquired Rylands’ parent company, Carrington Wire Group, in 2006.
Founded in the early 1800s by John Rylands, the company manufactures fasteners, nails, staples, wire bailing ties and other products for the construction and agricultural markets.
Rylands is believed to be the UK’s last nail factory, Fastener & Fixing Europe editor Phil Matten noted.
Rylands reportedly lost a major builders merchant contract last year despite the investment in Severstal-Metiz has not responded to requests for an official statement.
Insiders told Fastener & Fixing Europe magazine that Rylands was not able to compete with imported Chinese nail prices, which below the European material cost.
They also say Rylands was paying rent for the Acertec Holdings factory, who sold Carrington to Severstal-Metiz.
Nail production ceased in December and production equipment has been decommissioned and readied for a decision on disposal. Web: rylandswire.com \ �2007 FastenerNews.com