4/2/2013 9:31:00 AM
History Includes Nevada Nut, Non-Ferrous & SPS
Elgin Fastener Group acquired Vegas Fastener Manufacturing from owners Richard Lassiter, Ed Cebulko and Jim Foytik, who averaged 30 years in the industry.
Lassiter was founder of Nevada Nut & Bolt, – which became Non-Ferrous Bolt & Manufacturing; Cebulko was a partner and Foytik was plant manager. Non-Ferrous Bolt & Manufacturing was bought by SPS Technologies in 1998,
Foytik left Non-Ferrous to start Vegas Fastener Manufacturing in November 1998. Lassiter joined Foytick in 2000 and Cebulko in 2001 as co-owners.
SPS shut the Las Vegas fastener facility in 2000, and Vegas Fastener Manufacturing hired key production and testing staff – including VFM sales manager Kevin Hartman.In 2003 Vegas Fastener moved into a state-of-the-art, 100,000 sq ft facility, which houses hundreds of machine tools, including 10-ton through 750-ton forging presses; computer-controlled turning centers; vertical CNC mills; and CNC bar feeders.
Elgin Fastener Group LLC announced it has acquired Vegas Fastener Manufacturing.
Following last week’s announcement of Elgin acquiring Telefast Industries of Ohio, CEO Jeff Liter said Vegas Manufacturing represents a “major advancement in EFG’s goal to become the premier North American supplier of specialty fasteners.”
Founded in 1998, the Las Vegas-based manufacturer operates forging presses, computer-controlled turning centers, vertical CNC mills and CNC bar feeders. Customers include power generation, marine/naval transportation, oil and gas, diesel engine, food processing, power turbine, water works and general industrial markets.
“The experience and reputation that Vegas Fastener has developed in the production of high quality fasteners from exotic materials, for some of the most demanding applications in our industry, takes us to a new level of supplier recognition in the specialty fastener market,” Liter said.
EFG now totals nine U.S. specialty fastener manufacturers: Ohio Rod Products, Leland Powell Fasteners, Chandler Products, Silo Fasteners, Landreth Fastener, Quality Bolt & Screw, Northern Wire, Telefast Industries, and Vegas Fastener Manufacturing; plus Best Metal Finishing. EFG is a portfolio company of Audax Group.
EFG is headquartered at 4 South Park Ave., Suite 203, Box 5, Batesville, IN 47006. Tel: 812 689-8917 Fax 812 689-6635 Email: quotes@elginfasteners.com Web: elginfasteners.com ©2013 GlobalFastenerNews.com
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