Posted Date: 01/09/2011
Pembroke based BAS Components will start the New Year under new ownership and with renewed enthusiasm for its strategic direction in the sheet metal and fastener sector. The company has been sold by its previous parent TT Electronics to PSM International for £4.4 million.
PSM International’s European Managing Director Ian Atkinson explained: “This is a great acquisition for PSM since there is tremendous synergy between the two companies. The PSM and BAS product ranges of Anchor Rivet bush, PS Self Clinch and Flangeform along with the BAS in-die feed system technology allows both companies to offer a much broader range of sheet metal fixing solutions across a wide range of applications and market sectors. Both companies have a long experience working in sheet metal applications and both have the same application engineering ethos. I am really looking forward to working with BAS and developing our business together.”
Lee Timbrell, Managing Director of BAS Components commented: “The acquisition by PSM International is seen as a hugely positive step in the strategic direction of BAS Components. BAS has been actively developing its’ international and global customer base for some time and the strength and global footprint that PSM provides is the perfect complement in achieving this goal. TT electronics plc, the previous parent to BAS, invested
Source : American Fastener Journal – Read full article in the news section via American Fastener Journal.