Mergers & Acquisitions

Press Release Summary:

Jan 16, 2009 - DANBORO, PA, January 14, 2009 -- PennEngineering®, a global leader in fastening technologies, today announced the acquisition of 3V Fasteners Company, Inc. (Corona, CA), which specializes in precision aerospace fastener products. Terms of the transaction between the two privately held companies were undisclosed. "This strategic acquisition offers advantages for both of our companies with inherent synergies in expertise, capabilities, operations, and growth opportunities," said Mark Petty, President and Chief Executive Officer of PennEngineering. "While 3V will significantly enhance and advance our Company's position in the aerospace fastener market, PennEngineering's technical capabilities and resources will contribute dynamic benefits enabling 3V to reinforce and build upon its established position in the industry." 3V Fasteners, founded in 1982, is a leading manufacturer of externally threaded aerospace fasteners and its products have approvals of the major global aircraft/aerospace OEMs. 3V is an AS9100 accredited company and U.S. Government QSLM approved. The company's products are distributed through a global network of recognized aerospace fastener distributors. PennEngineering, headquartered in Danboro, PA and founded in 1942, is a global leader in fastening solutions for electronics and industrial applications. The Company develops and manufactures PEM® fasteners, SI® inserts, Atlas® blind threaded inserts, and PEMSERTER® automatic and manual fastener-installation presses. The Company has manufacturing facilities and key sales offices in North America, Europe, and Asia and is supported by a worldwide network of authorized engineering representatives and distributors. Contact Leon M. Attarian, PennEngineering, 5190 Old Easton Road, Danboro, PA 18916-1000 USA. Phones: 800-237-4736 or 215-766-8853; Fax: 215-766-0143. Web site: www.pemnet.com

Original Press Release

PennEngineering® Acquires 3V Fasteners Company, Inc.

Press release date: Jan 14, 2009

DANBORO, PA, January 14, 2009 -- PennEngineering®, a global leader in fastening technologies, today announced the acquisition of 3V Fasteners Company, Inc. (Corona, CA), which specializes in precision aerospace fastener products. Terms of the transaction between the two privately held companies were undisclosed.

"This strategic acquisition offers advantages for both of our companies with inherent synergies in expertise, capabilities, operations, and growth opportunities," said Mark Petty, President and Chief Executive Officer of PennEngineering. "While 3V will significantly enhance and advance our Company's position in the aerospace fastener market, PennEngineering's technical capabilities and resources will contribute dynamic benefits enabling 3V to reinforce and build upon its established position in the industry."

3V Fasteners, founded in 1982, is a leading manufacturer of externally threaded aerospace fasteners and its products have approvals of the major global aircraft/aerospace OEMs. 3V is an AS9100 accredited company and U.S. Government QSLM approved. The company's products are distributed through a global network of recognized aerospace fastener distributors.

PennEngineering, headquartered in Danboro, PA and founded in 1942, is a global leader in fastening solutions for electronics and industrial applications. The Company develops and manufactures PEM® fasteners, SI® inserts, Atlas® blind threaded inserts, and PEMSERTER® automatic and manual fastener-installation presses.

The Company has manufacturing facilities and key sales offices in North America, Europe, and Asia and is supported by a worldwide network of authorized engineering representatives and distributors.

Contact Leon M. Attarian, PennEngineering, 5190 Old Easton Road, Danboro, PA 18916-1000 USA. Phones: 800-237-4736 or 215-766-8853; Fax: 215-766-0143. Web site: www.pemnet.com