Global Fastener News

2008 FIN – Acument to Close Auto Fastener Plant in Virginia

February 02
00:00 2015

 

Acument Global Technologies will close an automotive fastener plant in Wytheville, VA, during 2009.
Employment at the plant declined over the past year from 200 to the current 162 jobs that will be lost with the closing.
“This is a permanent plant closure related to declining U.S. automotive volumes and the resulting need to consolidate capacity,” Acument spokesman Timothy Weir told FastenerNews.com.
Troy, MI-based Acument announced the closing to employees on December 3.
The 170,000 sq ft plant opened in 1962 and produces fasteners principally for automotive OEM and Tier One supplier customers and industrial applications.
The plant’s origin can be traced to 1947, when it opened in Willimantic, CT, as American Screw Company a combination of Eagle Screw Co. and Bay State Screw Co.
In 1962 the operation succumbed to high costs and competition, and was liquidated. Textron purchased the name and assets to start the American Screw Division of Textron in Wytheville, VA, as part of Camcar.
American Screw Plant 2 in Elk Creek, VA, opened in 1972 and later was integrated with the Wytheville plant. Its name was changed to AMSCO Products in 1982 before becoming Textron Fastening Systems – Wytheville in 2003.
In October 2006, Textron sold TFS to Platinum Equity for $673 million plus assumption of debt. TFS was later rebranded as Acument Global Technologies.
Headquartered in the Detroit suburb of Troy, MI, Acument supplies mechanical fastening systems and value-based fastening solutions, including engineered fastening systems, fastening installation technology and inventory management and application engineering services. With about 8,500 employees in 17 countries, Acument has customers in 150 countries. Web: acument.com ©2008/2015 Fastener Industry News.
For information on permission to reuse or reprint this article please email:  FIN@GlobalFastenerNews.com

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