Italy-based fasteners manufacturer Fontana Gruppo acquired Utica, MI-based MNP Corporation.
Terms of the transaction were not disclosed.
Founded in 1970, MNP Corporation is a manufacturer specializing in high-volume production fasteners and cold-formed components such as screws, rivets, washers, small stampings and screw machine parts. The Michigan-based company serves a diverse range of industries, including automotive, industrial, rail, shipbuilding, defense, medical and agriculture. Its capabilities include plating, annealing, flat-rolling, pickling, hot-dip galvanizing and more.
Established in 1952, Fontana Gruppo is a global manufacturer of fasteners with 26 production plants and 32 locations across Europe, the Americas and India. The company employs over 6,000 people and generates $1.3 billion (Euro) in annual revenue. The company has three research centers and holds more than 200 patents, focusing on product development and engineering.
“We continue with our strategy of expanding into local markets served by our clients, who demand timely and efficient service,” Fontana Gruppo CEO Giuseppe Fontana said in a June 5 news release. “Thanks to this acquisition, we will be able to ensure a significant expansion of our production capacity while maintaining high-quality standards, thus becoming the largest fastener manufacturers in both the American and global
markets.”
