France's A. Raymond Group acquires Tinnerman Palnut Engineered Products
1:52 pm, November 9, 2009
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A. Raymond Group, a global maker of fastening and fluid-handling connection systems that is based in Grenoble, France, has acquired Tinnerman Palnut Engineered Products of Brunswick for an undisclosed price.
A. Raymond said it will merge its current North American operations with Tinnerman to form A. Raymond Tinnerman Manufacturing. Privately held A. Raymond said the acquisition will substantially expand its presence in automotive as well as other industrial markets in North America.
“We're creating a powerful, new North American organization to provide our customers with a better, more competitive and complete portfolio of plastic and metal fasteners, fluid quick-connectors and other assemblies,” David J. Nenno, president of the new operating group, said in a statement.
Mr. Nenno noted that Tinnerman has been supplying A. Raymond with metal fasteners for the past year. The two companies supply most of the world's leading automakers, as well as Tier One auto suppliers and other industrial manufacturers.
Tinnerman supplies metal-clip fasteners and precision metal stampings for the auto industry from plants in Brunswick; Flemingsburg, Ky; Logansport, Ind.; Southfield, Mich., and Hamilton, Ontario, Canada. The company employes nearly 500 workers.
The North American operations of A Raymond currently have 133 employees at two plants in the Detroit suburb of Rochester Hills.
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