A private equity company reportedly had invested $30 million since 2007 “without seeing any return on the investment” and the fastener manufacturer has defaulted on payments. The company is seeking potential buyers.
The Bureau of Safety and Environmental Enforcement said it is forming a working group, the Interagency Bolt Action Team, to assess the potential impact of "bolt corrosion and breakage" on offshore oil drilling operations.
"A key success factor among others enabling the industry to have developed sustainably for over a half century is the industrial cluster in southern Taiwan, which turns out to be a thorough supply chain and, in turn, helps sustain the industry's development," according to CENS.
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