Pentacon Reorganization Approved; Anixter to Close Acquisition on September 20

John Wolz

The U.S. Bankruptcy Court of the Southern District of Texas approved the reorganization plan for Pentacon Inc., clearing the way for its assets to be sold to Anixter International Inc. on September 20, 2002.
Current Pentacon employees will be retained by Anixter and all trade obligations will be assumed and paid.
“This is a great day for Pentacon,” CEO Rob Ruck said. “I�d like to personally thank each and every employee, customer and supplier for their support during this process. We are proud of the fact we obtained (reorganization) plan approved only 3 1/2 months after filing.”
Chatsworth, CA-based Pentacon distributes fasteners and small parts and provides inventory management from 30 distribution centers in the U.S. and sales offices in Europe, Canada, Mexico and Australia.
Pentacon was formed in 1998 as a merger of five U.S. distributors. Web: Pentacon.com and Anixter.com �2002 FastenerNews.com