TORONTO, Aug. 4 2009 – Interfast Inc., a leading global aerospace and industrial fastener distributor, today announced it has signed a letter of intent for the strategic acquisition of Burwood Fastener Products Ltd. of Chobham, Surrey, United Kingdom. The acquisition provides Interfast with a firm base of operations in Europe and will operate under the name Interfast Europe Ltd.
“This acquisition is a significant step forward for both organizations, allowing us to immediately establish a greater presence in Europe, while adding value and broadening the range of products available to Burwood’s existing customers,” says Peter Oleck, director of Interfast Inc. and general manager of Interfast USA. “We will greatly benefit from Burwood’s European fastener standards experience and their connections with customers and European manufacturers.”
Interfast Inc. is one of the top 10 global aerospace and industrial products fastener distributors with customers spread around the world in Asia, Europe, North and South America. It services two leading North American aircraft manufacturers globally and works with airlines, maintenance repair and overhaul (MRO) facilities, as well as industrial customers.
“Burwood sees great strategic value in bringing these two organizations together,” says Howard Gerstein, Managing Director, Burwood Fastener Products Ltd. “Interfast has a proven track record of success in servicing the aerospace and industrial markets. We bring a strong team, with deep relationships and a proficient understanding of European market requirements. The combined result will be a significantly strengthened presence dedicated to servicing the European community.”
Oleck sees synergies at the purchasing and sales levels, and believes the European firm’s supply chain management capabilities will integrate well with Interfast’s proven vendor managed and customized inventory management services.
“Burwood has an excellent reputation with the UK aerospace manufacturing sector and their customer base is very complimentary to our own,” adds Oleck. “Our integrated teams will form a European branch that will be recognized for excellence in meeting or exceeding customer expectations. For more than 40 years, Interfast has been known as a valued and trusted partner to the world’s leading aerospace and industrial companies. Working together, Interfast Europe Ltd. will bring a new critical mass to servicing the European market.”
With the addition of Burwood, Interfast will have nine warehousing facilities across North America and in Chobham, Surrey, United Kingdom.
About Burwood Fastener Products
Burwood Fastener Products supplies fasteners, hardware and other consumable products to the aerospace, automotive, marine, government and commercial sectors. Through its solid links with OEMs (original equipment manufacturer) and strategic relationships with key suppliers, Burwood can offer in-depth technical support on parts and also offers a total support solution for supply chain management problems.
About Interfast Inc.
Interfast is a value-added distributor of specialty fasteners, fastening systems, and production installation tooling for the aerospace, automotive, electronics and general industrial markets. Interfast serves the global market through a network of strategic business partnerships, combining its extensive business and product knowledge with local representatives. The company works with the aerospace OEMs and their suppliers, airlines and the MRO sectors to deliver proactive and innovative fastener-based solutions for a broad base of applications, coupled with a strong presence in the industrial market with recognized branded products such as PEM and Unbrako.
Interfast purchased certain assets of UK-based Burwood Fastener Products Ltd. and has launched a new European division.
The joint venture company will be located in Zhuhai City in Guangdong Province in China.
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