10/25/2011 3:02:00 AM
HEADLINES
New Heads & Threads Adds Services
The new Heads & Threads International is adding packaged fasteners, kitting services, blister packs, private labeling and custom packaging services, according to new CEO and president Bill Marthens.
Some sales staff from the old HTI will be returning as well.
“It is different ownership – a different investor group,” Marthens explained to GlobalFastenerNews.com. “We acquired certain assets, but this is a new entity.”
“From a customer perspective, nothing has changed. The part numbers are the same and the telephone numbers are the same.”
Marthens has 20 years of industrial distribution experience, including 10 years in fasteners.
The new HTI starts with inventories in Dayton, OH, and Dallas, executive vice president Gordon Anderson said. The handt.com website is in the process of being updated.
Anderson has been in the fastener industry for 35 years – most recently with Brighton-Best.
HTI went into receivership in February 2011 with $16 million in debt.
In May, Porteous Fastener Company acquired HTI’s inventory, warehouse racks and other equipment at auction for lust under $12 million. Porteous closed HTI’s five remaining branches and consolidated the inventory into its own facilities. Porteous, a Southern California-based master distributor and importer did not purchase the branding rights and intellectual properties of the old HTI and is not involved in the emerging HTI ownership.
The original Heads & Threads Co. was founded in 1953 by Norman Sackheim in Chicago.
For HTI information: Tel: 630 868-2300 or 800 323-2073. ©2011 GlobalFastenerNews.com
The new Heads & Threads International is adding packaged fasteners, kitting services, blister packs, private labeling and custom packaging services, according to new CEO and president Bill Marthens.
Some sales staff from the old HTI will be returning as well.
“It is different ownership – a different investor group,” Marthens explained to GlobalFastenerNews.com. “We acquired certain assets, but this is a new entity.”
“From a customer perspective, nothing has changed. The part numbers are the same and the telephone numbers are the same.”
Marthens has 20 years of industrial distribution experience, including 10 years in fasteners.
The new HTI starts with inventories in Dayton, OH, and Dallas, executive vice president Gordon Anderson said. The handt.com website is in the process of being updated.
Anderson has been in the fastener industry for 35 years – most recently with Brighton-Best.
HTI went into receivership in February 2011 with $16 million in debt.
In May, Porteous Fastener Company acquired HTI’s inventory, warehouse racks and other equipment at auction for just under $12 million. Porteous closed HTI’s five remaining branches and consolidated the inventory into its own facilities.
Porteous, a Southern California-based master distributor and importer did not purchase the branding rights and intellectual properties of the old HTI and is not involved in the emerging HTI ownership.
The original Heads & Threads Co. was founded in 1953 by Norman Sackheim in Chicago.
For HTI information: Tel: 630 868-2300 or 800 323-2073. ©2011 GlobalFastenerNews.com
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