By DAN SHINGLER4:30 am, September 26, 2011
It’s likely there soon won’t be a Cardinal Fastener & Specialty Co. anymore, though workers at the company that was hailed as a symbol of wind energy’s potential to benefit area manufacturers apparently will continue to make bolts at its plant in Bedford — at least if Germany’s Wurth Group has its way.
Wurth Group North America Inc. has agreed to buy Cardinal’s assets, including its equipment, for $3.9 million, according to documents that are part of Cardinal’s bankruptcy filing in Cleveland. Other bidders will be able to outbid Wurth, which is a stalking-horse bidder that emerged from Cardinal’s efforts to sell itself, at an auction set for Oct. 26, pending Bankruptcy Court approval. […]
