4/29/2011 12:05:00 PM
NEWS BRIEFS
PSM Int’l Completes Acquisition of UK-based BAS Components
PSM International Holding Ltd.completed its acquisition of UK-based BAS Components Ltd. from TT Electronics plc for EUR 5 million.
BAS manufactures proprietary Flangeform fasteners for the automotive, electronics and other industries. BAS also makes non-proprietary weld nuts and other cold-formed components.
BAS company operates a manufacturing facility in Pembroke Wales anda European Technical Center in Sevenoaks, England.
“The acquisition of BAS Components provides a superb complementary product line to the current range of PSM’s Sheet Metal Fastener products,” stated Nick Price, General Manager of PSM’s North American operations.
PSM is in the process of transitioning the BAS sales and operations from Youngstown, OH, to the PSM facility in Newberry, SC. The Youngstown facility is being converted into a combined North American Technical Center for both PSM and BAS.
BAS managing director Lee Timbrell characterized the acquisition as a positive step, allowing BAS the opportunity to be part of a worldwide fastener organization.
Founded in 1931, PSM designs, manufactures, and distributes special engineered fasteners, inserts for plastics, sheet metal fasteners, and direct screw fixings to global manufacturing sectors including automotive, computers, datacom, electronics, aerospace, medical, white goods, power generation, and general manufacturing.
PSM has manufacturing, R&D and distribution operations in 23 countries and is headquartered in West Midlands, England. ©2011 GlobalFastenerNews.com
Related Stories:
• Anixter Fastener Segment Sales Grow
• Activant Solutions To Be Acquired By Private Equity Firm
• Hill Fastener Corp. Acquired By Kansas-Based Tramec
• Precision Castparts Reports Fastener Product Results
Related Links:
• PSM
Share: