ACQUISITION: Penn Acquires Atlas Engineering

John Wolz

Penn Engineering & Manufacturing Corp. acquired Atlas Engineering Inc. of Tallmadge, OH.
Danboro, PA-based Penn also announced it has ceased negotiations with Rivnut Engineered Products.
Atlas, with sales of $3 million in 1999, manufactures blind threaded rivets.
Penn manufactures self-clinching fasteners used by the computer, telecommunications, automotive and electronics industries. Penn reported sales of $198.1 million in 1999.