Gabelli Reduces Stake in Park-Ohio
December 09
00:00
2002
Gabelli Reduces Stake in Park-Ohio
John Wolz
A group of funds managed by Gabelli Asset Management Inc. has reduced its stake in Park-Ohio Holdings Corp. to 14.82% since October 30. The Gabelli group had owned 15.85% as of April.
Park-Ohio entered the fastener business in 1995 with the acquisition of RB&W, Park-Ohio. The company has added Arden Industrial, Arcon Fastener, Delo Screw, Direct Fasteners, Gateway Industrial, Columbia Nut & Bolt and now 60+% of its $636 million in annual sales is from fasteners.
The Gabelli group owns nearly 30% of fastener manufacturer SPS Technologies Inc. �2002 FastenerNews.com
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