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Acument forms aerospace division
B/E Aerospace to buy
Honeywell's aerospace
Acument Global Technologies Inc. supplier. Saturn gave Acument an
CEO Rick Dauch announced a new established base of more than 300
fastener unit
aerospace division to expand and global customers and an immediate
B/E Aerospace Inc. agreed to buy Honeywell's
focus its high performance aerospace presence in the Southern California
aerospace fastener distribution business,
threaded fastener market. aerospace community. Saturn and
Honeywell Consumable Solutions, for US$1.05
Acument Aerospace will be Camcar Aerospace now will operate as
billion, transforming B/E Aerospace into one of
headquartered in Rockford, IL, and part of the Acument Aerospace business
the largest distributors of aerospace fasteners in
headed by Randy Aardema as general unit.
the world.
manager. Aardema was named general "The combination of HCS and B/E Aerospace will
The new business unit follows the manager of Aerospace & Technology for create a leading global distributor and value added
March 2008 announcement of Acument's the Acument Global Technologies North supply chain manager of aerospace hardware and
re-entry into the aerospace threaded America business unit in April 2008.
other consumable products from locations in all key
fastener market with the opening of its Aardema joined Acument (then
geographic markets worldwide," stated B/E
Camcar Aerospace production complex, Textron Fastening Systems) from the
Aerospace CEO Amin Khoury. "The combined company
occupying two renovated facilities in parent Textron corporation in 2002. He
will serve as a distributor for every major aerospace
Rockford. previously held senior leadership
fastener manufacturer in the world."
Engineers at the Camcar aerospace positions in Textron operations, sales and
As part of the deal, which is expected to close in
research and development lab are general management primarily with the
the third quarter, B/E will enter into a 30-year
contract to become Honeywell's exclusive licensee to
working jointly with the Northern Illinois Textron Fluid & Power, Textron Systems
sell fasteners, seals and other products to the global
University School of Engineering to and Textron Corporate organizations. In
aerospace industry.
conduct a US$750,000 federally-funded 2005 he was appointed director of
By 2009, B/E's distribution business segment "is
study on next-generation titanium Textron Fastening Systems’ North
expected to be our largest and most profitable
aerospace fasteners. America Operations Region 2. When
segment and is expected to generate revenues of
Following the Camcar Aerospace Acument’s North America Business Unit
approximately US$1.2 billion," or about 43% of
announcement, Acument acquired was established in late 2006, Aardema
overall revenue at the company.
Burbank, CA-based Saturn Fasteners, a was appointed director of continuous
Honeywell acknowledged that HCS was a growing
specialty aerospace threaded fastener improvement. Web: acument.com business, but said it no longer fit the parent
company's focus on more advanced technologies.
Market analysts seemed excited about the
"Sweet smell of machine oil"
transaction. "The deal lines up the two largest players
in the aerospace fastener distribution market and
solidifies B/E's dominant position," noted research
A generation of Americans grew Part of the American problem is that
analysts at Oppenheimer.
up not realizing the importance of public companies are under huge
In 2007 B/E Aerospace reported its distribution
manufacturing and "the sweet smell short-term pressure to generate
segment, including fasteners, generated a 53.7%
of machine oil," U.S. Congressman maximum profits instead of investing in
jump in sales to US$386.5 million, reflecting a higher
Don Manzullo lamented in a speech the future, Manzullo acknowledged. But
level of revenues from first and second tier aerospace
to the Mid-West Fastener Association the U.S. can still manufacture, declared
manufacturers and from higher military sales.
meeting held in Rockford, IL. the congressman first electing in 1992.
Operating income soared 69% to US$85.5 million.
Students were sent to college to Aerospace is the nation's number one
B/E Aerospace acquired New York Fasteners Corp.
learn medicine or law, he noted. "There export and there is a critical shortage of
(NYF) for US$66.9 million in cash during 2007 and
was an attitude that something was engineers.
merged NYF's hardware distribution and vendor-
wrong if dad worked in manufacturing," Manzullo criticized his fellow managed inventory business with its own distribution
Manzullo recalled.
Republican - George W. Bush for the operations in Miami.
The demise of pride in manufacturing
"horrible error of steel tariffs" during
Web: beaerospace.com
also reduced the numbers of students
Bush's first term as president. Instead
entering engineering school. "We
today "free market forces left alone
should look upon manufacturing as the
are yielding extraordinary things taking
Vertex moves from
backbone of the American economy,"
place in the steel industry," Manzullo
Manzullo urged. The backbone is not
1882 plant
said. Foreign producers are taking
the much-talked-about banking
advantage of the opportunities.
Vertex Distribution moved to new, larger
industry. "The banking industry needs
headquarters in Massachusetts from a historic
something to finance." And the service
Manzullo noted one of his legislative
redbrick building in Rhode Island. The new head-
economy puts nothing out the door,"
aides recently bought a Toyota Prius
quarters is located in Attleboro, MA, 02703.
Manzullo pointed out. It is wrong to
and noticed 62% of components are
Vertex had been headquartered in an 1882 building,
"replace manufacturing with
American parts. In order to be NAFTA
which was the original Pawtucket Manufacturing Co. bolt
unemployment," he added.
compliant, the American parts are
plant. Vertex is stocking its entire product line consisting
In contrast, other countries continue
used in a car assembled in Japan.
of corrosion resistant inch and metric fasteners, blind
to prize manufacturing jobs. In those
The negative attitude toward
rivets and hose clamps in the new center.
nations the emphasis is on how to
manufacturing jobs has to change,
Vertex also has stocking locations in Atlanta,
improve manufacturing. That long-term Manzullo said. "As we look at the next
Charlotte, Chicago, Cleveland, Dallas, Houston, Los
view has paid off for Japan. generation, that crap's got to stop." Angeles and Tampa. Web: vertexdistribution.com
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