Global Fastener News

2001 FIN – Emhart Acquires Bamal

March 06
00:00 2013

2001 FIN – Emhart Acquires Bamal

May 8, 2001 FIN – Emhart Fastening Teknologies acquired the assets and ongoing business of Bamal Corporation’s automotive division in Farmington Hills, MI.
Bamal distributes fasteners to automotive manufacturers and Tier One suppliers. Bamal also provides automotive platform management, logistical services and plant management systems.
Emhart CEO Paul Gustafson said Bamal “complements our array of customer services, which range from product design to lineside delivery, to ongoing technical consultancy and after sales service. This business fits perfectly with out global automotive division.”
Bamal becomes part of Emhart’s global automotive division under president Michael Tyll.
Fastener investment banker Richard Hagan termed the Emhart/Bamal deal as “huge” and as significant as the Textron Inc. acquisition of Flexalloy three years ago.
“All of the automotive manufacturers talked with Bamal,” Hagan said.
Hagan, president of New York-based Pinnacle Capital Corp., predicted all automotive fastener manufacturers will partner in some form.  “Either you start a distributorship from scratch, form a joint venture or acquire one,” he said.
New Haven, CT-based Emhart is a Black & Decker company, which designs assembly technologies. Emhart has annual sales of over $500 million, 3,000 employees and 24 operating facilities and distribution sites in more than 100 countries.
©2001/2013 Fastener Industry News.
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