Founded in 1970, and acquired by PennEngineering in 2017, PENN Engineered Fasteners provides the North American automotive and industrial engineered component user with the optimal solution for their application.
The Bossard Group is significantly expanding its market presence in Canada as a supplier of high-quality fastening solutions. It is acquiring the Canadian distribution business from the American company PennEngineering in Danboro, Pennsylvania, USA, an innovative manufacturer of fastening solutions.
PENN Engineered Fasteners Corporation (PEF), based in Concord, Ontario, Canada, was founded in 1970 and acquired by PennEngineering in 2017. The company supplies industrial segments such as automotive, energy, agriculture, and appliances with innovative fastening solutions, and generates annual sales of around USD 25 million with 30 employees.
Bossard and PennEngineering maintain a successful, long-term collaboration that covers a total of 22 countries in North America, Europe, and Asia. Bossard, with its global focus on creating value for its customers through engineering services and innovative logistic solutions, is convinced that it will be able to unlock additional growth in this strategic market located in the industrial epicenter of Canada.
“With the acquisition of PEF we are in a great position to continue our profitable growth strategy in the context of our Strategy 200,” said David Jones, CEO America, Bossard. “Building on our previous investments in Canada, adding PEF’s capability, we will be able to expand our services in this key market. We are excited to welcome PEF employees to the Bossard family and look for further developing our business together in the Canadian market.” .
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Filed Under: Fastener industry news