1993 FIN – Swanstrom New Penn Engineering CEO
FASTENER HISTORY
1993 FIN – Swanstrom New Penn Engineering CEO
August 10, 1993 FIN – Kenneth A. Swanstrom, 53, has been named chairman and chief executive officer by Penn Engineering & Manufacturing Corp. (PEM), Danboro Pennsylvania.
He succeeds his father, K.A. Swanstrom, the company’s founder who died in May.
The junior Swanstrom had been president and chief operating officer since 1979. He remains president.
PEM, the nation’s leading manufacturer of self-clinching fasteners and installation presses
celebrated its 50th anniversary last year.
Founded in 1942, Penn Engineering began production of its first fastener, a steel weld nut, in 1943 from a rented section of a stocking mill in New Britain, Pennsylvania.
Today the company has manufacturing facilities in Winston-Salem, North Carolina, and Suffolk, Virginia, aw well as international operations in Doncaster, England.
In 1970, Penn Engineering acquire the Pittman Corp., Sellersville, Pennsylvania, a manufacturer of dc motors, and, in 1986, the company purchased Standard Insert Co., Pacoima, California, a manufacturer of inserts.
Penn Engineering’s corporate address is 5190 Old Easton Rd., Danboro, PA 18916-1000 Tel: (215) 766-8853 Fax (215) 766-0143.
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