Global Fastener News

April 13, 2006 FIN –  John Jones and Mary Jones sold Fastener Technology International to the publisher of Rubber World magazine.

Job Lippincott of Lippincott & Peto Inc. acquired the Jones’ Initial Publications, including Wire & Cable Technology International, Wire Forming Technology International, annual directories in the wire and fastener industries, a newsletter and other ancillary products and services.
Jones noted “my wife Mary and I owned Fastener Technology International for 18 years. It was a difficult and emotional decision to sell but it was the correct business decision.”
The key to selling was protecting their employees’ jobs, Jones said. “All the ‘in-house’ employees will be continuing with the new owner,” Jones noted. “That was the determining factor. It is about two years earlier than we had planned to sell, but we were uncertain that a local buyer would be interested at that time. The alternative was to ‘shop’ the publications, but that probably would mean that an out of the area buyer would purchase the titles and the employees would have to move to retain their jobs, although it probably would have meant a better return for the Joneses!”
Mike McNulty continues as editor; Tom Hutchinson will remain in charge of sales. Chip Lippincott will be the new associate publisher and vice president of the Initial publications. He will replace the East Coast outside advertising sales representative, Ray Zirkle.
Initial Publications will move 10 miles from Stow, OH, to the Lippincott & Peto offices at 1867 W. Market St., Akron, OH 44313. Tel: 330 864-2122 Fax 330 864-5298 E-mail: info@fastenertech.com Web: fastenertech.com
Lippincott has been with Rubber World since 1973. He and now retired Jack Peto acquired the international technical magazine in 1983.
“For a long time we have been looking for an acquisition that would comfortably fit along side Rubber World, an internationally circulated technical journal,” Lippincott explained. “We have found this fit with Initial Publications and look forward to the growth potential offered by the industries they serve.”
Jones can be contacted at E-mail: jjones@neo.rr.com. ©2006/2012 Fastener Industry News
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