NEWS PennEngineering® PennEngineering®
Michels, chief financial officer, will continue to lead the company along with the existing PROFIL management team, reporting to Mark Petty, CEO of PennEngineering. Terms of the acquisition were undisclosed and no changes
P
are anticipated regarding operations, facilities, and employees. The acquisition ultimately is expected to expand sales growth opportunities for both companies, as well as increase the global awareness of PROFIL’s highly regarded brand. The announcement noted that PennEngineering and PROFIL
share a common culture of engineered fastening solutions with diverse yet complementary product lines. Together, the two companies will benefit from PROFIL’s strengths in the European automotive market and PennEngineering’s strong presence in North America and China. The combination is expected to bring customers the immediate advantage of focused, world-class plants in Germany, Ireland, USA, and China; faster response time for small lots; certified test labs; and R&D presence. The acquisition of PROFIL significantly enhances the combined company’s fastener installation system engineering, technology and service.
acquires PROFIL Verbindungstechnik has acquired PROFIL Verbindungstechnik, the companies jointly announced on 3rd September.
ROFIL will continue to operate as a separate company under the PennEngineering®
corporate umbrella and
the PROFIL brand of mechanical hardware will remain unaffected. Dr Frank Grunow, CEO of PROFIL and Petra
Founded in 1965, and headquartered in Friedrichsdorf, Germany, PROFIL develops nuts and studs installed by a riveting, piercing, or pressing process. PROFIL is a system supplier with in-house design for automated feeding and installation equipment, customised to meet the individual production requirements of customers. The company is a pioneer in mechanically joined fastener technology and has steadily continued its development over many decades. The economic advantages of using the PROFIL system in industrial manufacturing is documented by the implementation of a multitude of technically challenging and safety critical applications, mainly in the automotive, appliance and construction fittings industries. All major European automobile manufacturers and their suppliers are among PROFIL’s customers. Founded in 1942, and headquartered in Danboro, PA, USA, PennEngineering is a global leader in PEM®
brand fastening
solutions and provides fastener and fastener installation design and product solutions worldwide for diverse industries, including electronics, computer, data/telecom, medical, automotive, aerospace/aircraft, and general manufacturing. The company operates fastener manufacturing facilities and key sales offices in North America, Europe, and Asia, and is supported by a worldwide network of authorised engineering representatives and distributors.
Atlas Copco to acquire Henrob
Atlas Copco North America LLC and Atlas Copco Asia Pacific Pty Ltd have signed an agreement to acquire all entities of self-pierce riveting specialist Henrob, which has main production facilities in the US and UK.
A 16
nnouncing the acquisition on 13th
August, Atlas Copco said it
offers the group an opportunity to expand in a fast-growing
market segment, with state of the art technology. Henrob is a pioneer and market leader in self-pierce riveting. The privately owned company had revenues of US$162 million (123 million euros) in the 12 months ending June 2014 and has about 400 employees. The acquisition is subject to regulatory approvals and should close during the third quarter 2014. Atlas Copco says the self-pierce
riveting segment is expanding fast due to the growing use of lightweight materials in the automotive and other industries, a trend driven by increasingly stringent emission standards. Automakers are working hard to improve fuel economy,
and weight reduction using aluminium is an effective measure in meeting these requirements. “Henrob is a strategic fit in our portfolio
of adjacent fastening technologies for the automotive industry,” said Mats Rahmström, president of Atlas Copco’s industrial technique business area. “It is a logical addition to our automotive body shop business. Now we can serve customers with three assembly technologies – tightening, adhesives and self-pierce riveting.” Henrob already supplies many of the
leading automotive manufacturers in Europe and North America but Atlas Copco believes its global footprint will open up possibilities to serve customers in more markets. Henrob will become a business line within the MVI Tools
Fastener + Fixing Magazine • Issue 89 September 2014
and Assembly Systems division in the industrial technique business area. The Henrob brand will be retained. The industrial technique business area provides industrial power tools, assembly systems, quality assurance products, software and service through a global network, delivering productivity solutions to the automotive and aerospace industries, industrial manufacturing and maintenance, and in-vehicle service. Principal product development and manufacturing units are located in Sweden, France and Japan. Based in Stockholm, Atlas Copco was
founded in 1873 and now has a global reach spanning more than 180 countries. It had 2013 revenues of approximately 9.7 billion euros and has more than 40,000 employees.
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