PennEngineering® Acquires 3V Fasteners Company, Inc.
by Design World Staff
Wednesday, January 21, 2009
DANBORO, PA -- PennEngineering® announced the acquisition of 3V Fasteners Company, Inc. (Corona, CA), which specializes in precision aerospace fastener products. Terms of the transaction between the two privately held companies were undisclosed.
“This strategic acquisition offers advantages for both of our companies with inherent synergies in expertise, capabilities, operations, and growth opportunities,” said Mark Petty, President and Chief Executive Officer of PennEngineering. “While 3V will significantly enhance and advance our Company’s position in the aerospace fastener market, PennEngineering’s technical capabilities and resources will contribute dynamic benefits enabling 3V to reinforce and build upon its established position in the industry.”
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