Simpson Strong-Tie Acquires Swan Secure Products
Simpson Strong-Tie Acquires Swan Secure Products
Jason Sandefur
Simpson Strong-Tie Co. acquired Swan Secure Products Inc., a manufacturer and distributor of stainless steel and other fasteners, for $43.5 million in cash.
Simpson Strong-Tie designs, engineers and manufactures wood-to-wood, wood-to-concrete and wood-to-masonry connectors and fastening systems and pre-fabricated shearwalls, as well as adhesives, mechanical anchors and powder actuated tools for concrete, masonry and steel.
Simpson Strong-Tie’s parent company, Pleasanton, CA-based Simpson Manufacturing Co. Inc., reported net sales dropped 10.4% to $193.2 million during the first quarter of 2007, hampered by sluggish U.S. sales. Q1 net income decreased 31.3% to $17.3 million. Web: simpsonmfg.com �2007 FastenerNews.com
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