Global Fastener News

MacLean-Fogg Abandons Rockford Products Bid

Jason Sandefur

MacLean-Fogg Co. has abandoned negotiations to buy the Cold Formed Products division of bankrupt Rockford Products Corp., according to the Rockford Register Star. MacLean-Fogg reportedly expressed interest but never made an offer for the operation.
Rockford Products, which filed Chapter 11 on July 25, had hoped to sell the international division by October. The employee-owned fastener manufacturer now seeks a new multi-million dollar finance agreement with its secured creditor, Bridge Finance Group, to keep operating until January. Bridge Finance has already extended $21 million in credit to Rockford Products.
In August Rockford Products agreed to sell its retail fastener and auto parts line to RB Distribution, an affiliate of Dorman Products, for more than $3 million.
Founded in 1929 as Rockford Screw Products, Rockford Products manufactures and distributes ball studs, cold formed fasteners and other specialty products. The company, which has 515 employees, reported 2006 sales of $101 million. Web: rockfordproducts.com �2007 FastenerNews.com