Jason Sandefur

Curtiss-Wright Corp. acquired the HydraNut product line of Technofast Int”l for $8 million cash. The deal includes a $4.5 down payment and up to $3.5 million based on future performance.
The acquisition replaces the current licensing agreement between Roseland, NJ-based Curtiss-Wright and Technofast. The HydraNut product line is managed by Nova Machine Products Inc., a subsidiary of Curtiss-Wright Flow Control Corp.
“The acquisition of the HydraNut technology expands Curtiss-Wright”s proprietary technologies for the global nuclear power market and other selected industrial markets,” said Curtiss-Wright CEO Martin Benante. “We believe the market demand for Technofast”s current product line is just beginning to be realized, and we expect to expand international markets for these highly engineered products.”
Technofast”s HydraNut management team will transfer to Nova Machine Products in Middleburg Heights, OH. \ �2005 FastenerNews.com