Global Fastener News

1983 FIN – Fastener Manufacturers Have New Wire Supplier

August 15
00:00 2014

June 1, 1983 FIN – U.S. fastener manufacturers, as of today, June 1, have a new source of cold heading wire. The name of the company is Presidents Island Steel & Wire Inc., and it’s located in Memphis, Tenn.
Actually, what’s new is the name of the company and the owners. The company is the former Wire Division of Piper Industries, Inc., the assets of which division (Including land, buildings, equipment, inventories and receivables), were purchased by Jack L. Long and Robert C. Wilcox for around $5 million, including a $2.1 million Shelby County industrial revenue bond.

Long, 40, who will be president of the new company, was formerly general manager of Piper’s Wire Division and joined the company in 1977 from Mid-States Steel & Wire Co.
The main products of the new firm will be high carbon spring wire, plating wire and cold heading wire for fasteners.
Wilcox, who will be chairman of the company, said that Presidents Island plans to expand its product line into annealed wire within one year to better serve the fastener industry. ©1983/2014 Fastener Industry News.
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