TransTechnology Exits Fastener Business
TransTechnology Exits Fastener Business
Jason Sandefur
TransTechnology Corp. sold its TCR Corp. for $10 million and the assumption of certain liabilities to Morristown, NJ-based MidMark Capital LLC. The sale completes Transtechnology�s divestiture of its specialty fastener businesses under a restructuring program announced in 2001. The move allows Union, NJ-based TransTechnology to focus on designing and manufacturing aerospace products at facilities in New Jersey and Connecticut. The company has been selling its fastener units for more than a year, most recently with the sale of its U.S., U.K. and Brazilian retaining ring units. Web: transtechnology.com
MidMark is a capital investment company founded in 1989 by Wayne Clevenger, Denis Newman and Joseph Robinson. Web: midmarkcapital.com �2003 FastenerNews.com
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