Industrial Holdings Announces Letter of Intent

John Wolz

Industrial Holdings Inc. announced a letter of intent for the sale of its engineered products group and its subsidiary, Beaird Industries. The buyer has not been announced.//
The group includes Jackson, MI-based Orbitform, American Rivet of Chicago, Ideal Products of Beacon Falls, CT, and Landreth Products of Houston.
The sale is expected to close before IHI merges with T-3 Energy Services Inc. in October 2001.
Houston-based IHI retained Richard Hagan of Pinnacle Capital Corporation to review offers. Web: ihii.com �2001 FastenerNews.com