Jason Sandefur

Singapore fastener manufacturer Unisteel Technology Ltd. bought the remaining 30% stake in metal finisher Takumi Unitech Pte. Ltd. in Singapore for $7.67 million in cash. The deal increases Unisteel’s stake in Takumi Unitech from 70% to 100%.

Unisteel completed the deal with Takumi Kogyo Co., a Japan-based provider of surface treatment services.

The news comes weeks after Unisteel agreed to be acquired by Kohlberg Kravis Roberts & Co. in a take-private deal valuing the company’s stock at 785 million Singapore dollars ($575 million).

Unisteel was founded in 1988 and listed on the Singapore Stock Exchange in 2000. The company provides fasteners, precision components, and surface treatments for the mobile telecommunications, consumer electronics, industrial and automotive sectors. With manufacturing facilities in Singapore, Malaysia and China, the group last year generated net profits of S$47.5 million (US$34.7m) on revenue of S$274.8 million (US$200.55m). Web: unisteel.com.sg �2008 FastenerNews.com