Jason Sandefur

UK-based Armstrong Fastening Systems was acquired by a new subsidiary of Caparo Engineering Ltd, Fastener & Fixing Europe reported. The new business will trade as Armstrong Precision Components Ltd. Managing director Leigh Burgoyne reportedly confirmed to customers that there will be no management changes.
Product branding has been revised as a result of the deal. Armstrong Precision Components will manufacture and sell wire thread inserts worldwide as ArmaCoil. Brass inserts will be manufactured and sold as ArmaSert.
“We see this as a fantastic opportunity to introduce these new products to a global market and will continue with the high level of service and support previously provided,” stated Burgoyne.
The deal follows news that administrators took over the aerospace fastener manufacturer in March 2006, forcing it into bankruptcy over pension fund deficits.
At the time observers commented that the elimination of pension liability makes the subsidiary more attractive for potential buyers. �2006 FastenerNews.com