Porteous Fastener Company (PFC) closed May 17, 2011, on the purchase of certain assets of Heads and Threads International (HTI). Assets purchased consisted of all remaining inventory, fixed assets, and intellectual property. Barry Porteous, PFC’s President said, “This was the longest, most difficult negotiation of which I’ve ever been a part, but well worth it in the end. I think it is the best possible outcome for the vendors who have not been paid since mid-December”. PFC’s inventory control department headed by Bruce Darling extensively analyzed the 25 million pounds of inventory. “A lot of really good stuff”, said Bruce, “but also several million pounds …
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