PennEngineering, a global provider of fasteners and hardware products based in Danboro, Pa., announced Thursday that it acquired Eurotec Ltd., a reseller of metal fabrication equipment, fastener installation systems, and clinch and sheet metal fasteners based in Tokyo, Japan.
“PennEngineering’s acquisition of Eurotec reflects our steadfast commitment to strategic expansion in Japan,” Leonard Kiely, CEO of PennEngineering, said. “Eurotec is an innovative company with highly technical fastener expertise and true system installation capabilities.”
The acquisition will ensure the Japanese market has permanent access to PennEngineering’s fasteners and installation equipment, PennEngineering said in a press release. Eurotec will continue its operations in Japan and join the various brands under the PennEngineering corporate umbrella.
“We look forward to partnering with Eurotec and investing in additional resources dedicated to introduce our unique technologies to consumer and automotive electronics, as well as the automotive OEM market,” Kiely said.