ACQUISITIONS: Nylok/Multech; TransTechnology Sells Subsidiaries; Floform/Tower

John Wolz

Nylok Acquires Multech
Nylok Corporation acquired Multech Inc., Nylok president Max Dorflinger announced.
The Multech acquisition expands Nylok�s capability to serve manufacturing markets with adhesive fastener coatings, Dorflinger said.
Multech is a licensed applicator of 3M sealants and fastener adhesives and a supplier of coating processes. Multech coatings are widely used in the automotive industry and in manufacturing of heavy equipment, appliances, power equipment, furniture, electronics and recreational vehicles.
Founded in 1973, Multech pioneered the application process of �3M� �Scotch-Grip� fastener adhesive for the automotive industry.
Nylok supplies fastener processes and coatings for self-locking, self-sealing and thread protection and originated a nylon patch locking element for internally and externally threaded self-locking fasteners and other value-added fastener products.
Macomb, MI-based Nylok was acquired by the Marmon Group in 2000 and operates processing facilities in California, Illinois, Michigan, New Jersey, Texas and Canada, and in 20 Asian, European and South American countries through licensing. Web: nylok.com

TransTechology Sells Subsidiaries
TransTechnology Corporation completed the sale of its TransTechnology Engineered Rings USA Inc. subsidiary to a newly formed entity controlled by Providence, RI-based SeaView Capital LLC for $2.9 million, a note for $800,000 and warrants for 5% of the equity of the new entity.
The previously announced sale of Aerospace Rivet Manufacturers Corporation to Allfast Fastening Systems Inc. was completed.
ARM manufactures aerospace solid rivets and bolts.
Founded in 1966, City of Industry, CA-based Allfast manufactures solid and blind rivets and installation tools for aerospace applications. Customers include Boeing, Lockheed, Bombardier, Northrup Grumman and the U.S. government. Web: allfastinc.com
The Engineered Rings sale is part of a restructuring program taking TransTechnology out of the specialty fastener manufacturing business in order to focus on manufacturing defense and aerospace products.
Last year TransTechnology sold its Breeze and Pebra hose clamp businesses and its Engineered Components business. Earlier this year TransTechnology sold its German retaining ring business and aerospace rivet. The proceeds from the divestitures have been used to reduce TransTechnology�s debt from $272 million to $104 million.
Liberty Corner, NJ-based TransTechnology is negotiating to sell its UK- and Brazil-based retaining ring operations and its TCR cold headed business in Minneapolis.

Floform Acquires Tower Ltd.
Floform Ltd. of Welshpool announced it has acquired the forged products division of international rivet supplier Tower Manufacturing Ltd.
Floform manufactures cold formed components for the automotive, auto electrical, power semiconductor and door and window hardware industries.
Tower�s largest market is automotive clutches and truck brakes for both OEMs and aftermarkets. Tower products are used in a variety of industrial fixing applications, including friction hinges on double glazed windows.
Floform CEO Eric Bolam said of the recent investments at the company�s mid-Wales facility that �our acquisition of Tower Forged Products is an important development in our strategy for continued growth, as it will significantly increase our sales, complement our existing manufacturing facilities and provide potential for future expansion.� Web: floform.co.uk \ �2002 FastenerNews.com