Nedschroef Acquires Spanish Fastener Maker Sanz Teremig
Nedschroef Acquires Spanish Fastener Maker Sanz Teremig
Jason Sandefur
Nedschroef Holding NV plans to take over Spanish fastener manufacturer Sanz Teremig Industrial for an undisclosed cash amount.
“Nedschroef is seeking to reinforce its position among the automotive industry and automotive suppliers whilst also enlarging its market share. The takeover of Sanz Teremig Industrial fits in with this strategic aim,” Nedschroef said in a written statement.
Madrid-based Sanz Teremig will be integrated into Nedschroef Fasteners Elnor S.A. in Spain. Sanz Teremig has 10 employees and generated 2005 sales of Euro 5 million (US$5.98 million).
Dutch fastener firm Nedschroef said the takeover would have little impact on the company’s 2006 financial results. Web: nedschroef.nl �2006 FastenerNews.com
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