2006 FIN – Textron Fastening to Become Acument Global Technologies

December 11

00:00 2012

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FASTENER HISTORY
2006 FIN – Textron Fastening to Become Acument Global Technologies

2008 FIN ? Dauch New Acument CEO

May 29, 2008 FIN – Acument Global Technologies Inc. appointed Richard Rick’ Dauch president and CEO. Dauch plans “an aggressive plan for market expansion within a rapidly changing global environment.”‘
Dauch succeeds Joseph Gray, who led the business following its acquisition by Platinum Equity from Textron Inc. in 2006. Gray previously held management positions with Textron, including vice president of Textron Fastening Systems.
Dauch, 47, joins Acument from American Axle & Manufacturing, where he was executive vice president of Worldwide Manufacturing. He was responsible for 17 locations, including start-up plants in Poland and China and the Forge Division.
Prior to his 13 years with American Axle, Dauch led the specialty products and packaged products businesses of United Technologies Carrier Corporation business unit. At United he handled products produced in Korea, Italy, Mexico, Brazil and the U.S.
Dauch holds dual masters of science degrees in management and engineering from the Massachusetts Institute of Technology and a bachelors in engineering from the U.S. Military Academy at West Point. He has been on the Society of Manufacturing Engineers board. He is co-chairman of technology start-up Microheat Inc.
Rick Dauch is the son of AAM chairman Dick Dauch.
Platinum Equity principal Mike Scott credited Grays leadership during Acuments transition to a stand-alone business, and his successful reorganization of the company into its current operating structure over the past 18 months.’
Headquartered in the Detroit suburb of Troy, MI, Acument distributes mechanical fastening systems and value-based fastening solutions. Customers are in the aerospace, automotive, construction, electronics, industrial, non-automotive transportation and related end-use markets. Acument has 8,500 employees in 17 countries, and reported sales of about $1.8 billion during 2007. Web: acument.com ©2008 Fastener Industry News

November 1, 2006 FIN – Textron Fastening Systems will change its name later this fall to Acument Global Technologies, “reflecting its new beginning and strategic direction as a stand-alone company,” the company stated.
TFS was acquired by Beverly Hills-based Platinum Equity on Aug. 11, 2006, in a deal worth a reported $673 million plus assumption of certain debt.
TFS officially will adopt its new Acument brand name in the coming weeks, after completing its branding preparations and obtaining legal clearances in the 16 countries in which it operates.
“Our new name and logo are clear, dynamic representations of a 21st century industrial company with the technology resources to bring value-added design and assembly solutions to our global customers,” declared TFS president Rick Clayton. “We will leverage our new name as the foundation for revitalizing and strengthening our product brands and the values they represent. Doing this will help align our business closer to the needs and interests of our customers.”
The new Acument “incorporates a bold, stylized letter ‘a’ in the color red that mimics the swirling path of a fastener being installed,” according to TFS.
Troy, MI-based TFS said it conducted interviews with “customers, employees, and other constituents in developing the logo.”
Joseph Gray was named interim CEO at Textron Fastening Systems, replacing three-year top executive Clayton.
Having completed its deal to become part of Beverly Hills-based Platinum Equity, TFS is in the process of rebranding itself as Acument Global Technologies.
With the reorganization plan in place and the company preparing to re-launch under its new brand name, Clayton told FIN the time was right for him to pursue other opportunities. “Rick Clayton played an important role in leading Textron Fastening Systems over the past three years,” Gray told FIN. “He successfully steered the business through our company’s recent divestiture, and helped plan its reorganization as a stand-alone business.”
Gray has served as TFS vice president responsible for global integrated supply chain management. Before that, he was vice president for integrated supply chain at Textron’s Fluid & Power division. His career has included senior leadership positions at the GDX Automotive unit of GenCorp, Bosch, Peregrine Inc., AlliedSignal Braking Systems and Kelsey-Hayes. ©2006/2012 Fastener Industry News
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