Global Fastener News

Curtiss-Wright Buys HydraNut

Jason Sandefur

Curtiss-Wright Corp. acquired the HydraNut product line of Technofast Int’l for $8 million cash. The deal includes a $4.5 down payment and up to $3.5 million based on future performance. The acquisition replaces the current licensing agreement between Roseland, NJ-based Curtiss-Wright and Technofast. The HydraNut product line is managed by Nova Machine Products Inc., a subsidiary of Curtiss-Wright Flow Control Corp.
“The acquisition of the HydraNut technology expands Curtiss-Wright’s proprietary technologies for the global nuclear power market and other selected industrial markets,” stated Curtiss-Wright CEO Martin Benante. “We believe the market demand for Technofast’s current product line is just beginning to be realized, and we expect to expand international markets for these highly engineered products.”
The HydraNut management team will transfer to Nova Machine Products in Middleburg Heights, OH.
HydraNut fasteners provides simple and accurate tensioning in safety risk situations and hard to access areas, as well as being significantly more cost effective than traditional methods, according to Curtiss-Wright. The HydraNut reportedly reduces tensioning cycle time by as much as 80% while minimizing stud bolt failure. Technofast products are used in nuclear power generation and other energy markets. Web: curtisswright.com �2005 FastenerNews.com