12/9/2009
HEADLINES
ACQUISITIONS: Fastenal Buying Holo-Krome from Danaher
The Fastenal Co. announced it has signed an agreement to acquire certain assets of socket head screw product manufacturer Holo-Krome. The deal is scheduled to close December 18, 2009.
Holo-Krome was part of Danaher’s Tool Group. Fastenal reported Holo-Krome’s 2008 sales total less than 1% of Fastenal’s $2.34 billion in 2008 sales.
“The Holo-Krome brand has been synonymous with quality and reliability for 80 years,” Fastenal CEO Will Oberton commented. “We believe it will be an excellent addition to Fastenal’s expansive product offering and aligns very well with our mission of ‘Growth through Customer Service.'”
“This is a great opportunity for Holo-Krome to continue its legacy,” Holo-Krome national sales manager Charles LaBove said. “Armed with Fastenal’s deep desire to add investment, we’re looking forward to providing an expanded product offering to serve new and existing customers.”
Founded in 1929, West Hartford, CT-based Holo-Krome began by manufacturing socket screws by the then-new technique of metal forming, or heading, rather than machining. Today Holo-Krome manufactures grade 12.9 socket screw products. ©2009 GlobalFastenerNews.com
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