The Bossard Group plans to strengthen its market position in France as a supplier of high-quality fastening solutions by taking over an area of activity from Titanox that generates annual sales of EUR 6 million. Terms of the deal were not disclosed.

Bossard is taking over Titanox’s division for self-clinching fasteners, which make the connection between ultra-thin and ultra-light metals possible.

"This partial acquisition complements the product range with fastening solutions for application in demanding industries," the company stated.

Bossard is already present on the French market at four sites with a total of 130 employees.

"With this latest acquisition, Bossard not only consolidates its market position in a national economy that is characterized by a broadly diversified industrial sector, but also strengthens its longstanding business relationship with PennEngineering (PEM)."

With this acquisition, Bossard will become PEM’s exclusive distributor in the French market.

Bossard "significantly increased its sales volume" in the opening quarter of 2015, with sales up 5.1% to CHF 168.8 million (8.2% in local currency).

Source: Global Fastener News