EuroWire January 2020

Corporate News

India-based manufacturer of precision fasteners Paragon Fasteners has acquired Kuduma Fasteners Pvt Ltd, a manufacturer of high tensile fasteners and cold-headed components for automobile and industrial applications. Kuduma Fasteners is a tier 1 vendor to many southern India-based automotive producers, and has operated in the fastener industry for over 30 years. The company has an in-house continuous furnace and a wire processing facility with a total installed capacity of 300 tonnes per month. Almost all of Kuduma’s machinery is Taiwanese: multi-station bolt formers ranging from M4 to M16, up to 250mm long (up to M8), it makes for an ideal facility for fastener production. Established in 1996 with a small capacity for making precision fasteners, Paragon Fasteners today boasts a large capacity and range to produce precision fasteners in both ferrous and non-ferrous metals, catering to major OEMs of automobiles, machine manufacturers, electronics, electrical, and furniture manufacturers. The company has acquired some big names in the industry, including Kadimi’s fasteners unit, Electronic Fasteners, and EkaEngg Technics. Described by Dilip Sheth, CEO of Paragon Fasteners, as the realisation of a “long standing dream”, the acquisition of Kuduma is also Paragon’s biggest. With this acquisition, Paragon believes it will have the largest range of standard Paragon acquires Kuduma Fasteners

A focus on precision for Paragon Fasteners

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and custom-made import substitute cold forged fasteners, supported by in-house heat treatment and wire drawing units. Paragon Fasteners www.paragonfastener.com

Cooper & Turner acquires Beck Industries

the Watermill Group, we see tremendous opportunity to accelerate innovation and growth within the global energy and infrastructure markets.” Steven E Karol, managing partner and founder of private investment rm Watermill, commented: “This is an ideal time for these companies to come together. Both are thriving and well positioned in their respective markets. We are looking forward to supporting the combined management team in capitalising on the inherent opportunities.” Founded in the 1800s by Joseph and James Turner as a gun barrel manufacturer, Cooper & Turner is a UK-based manufacturer and distributor of high strength, large diameter industrial fastener systems. The company is headquartered in She eld, UK, with operations in the UK, China and North America. Beck Industries International is a manufacturer and distributor of fully certi ed, high-security bolting com- ponents for re neries, power gener- ation, subsea oil and gas and the nuclear power end markets. Cooper & Turner Ltd www.cooperandturner.co.uk

Andaray (Holdings) Ltd and its subsidiary Cooper & Turner have acquired Beck Industries, a manufacturer and distributor of high security bolting components. The combined company aims to be the rst truly global manufacturer of safety-critical fastening applications, supporting a range of industries that includes renewable energy, power generation, nuclear, construction and heavy equipment. Established in France more than 100 years ago, Beck is now a global organisation with capabilities that complement and expand those of Cooper & Turner. As one entity, the company’s services span all key production processes, including hot and cold forming, heat treatment, CNC machining, thread rolling, robotics and automation. “We are excited to join the Cooper & Turner family,” said Hugues Charbonnier, former Beck president. Mr Charbonnier and his wife, Karine, will both remain on the management team as executive vice presidents of Cooper & Turner. “Our complementary technologies, facilities, services and product portfolios will form an unequalled platform to serve local and international clients.”

▲ A “one-stop shop for the highest quality, mission-critical industrial fasteners” our position as a seamless, one-stop shop for the highest quality, mission-critical industrial fasteners,” said Tony Brown, group CEO and president, Cooper & Turner. “Supported by our partners at “The acquisition strengthens

EF 5/71

www.read-eurofasteners.com

January 2020