Just a few months after announcing the acquisition of Right Tight Fasteners, a key player in the Indian market, Italian-based Fontana Gruppo is continuing its growth strategy with the acquisition of US-based MNP Corporation, a company specialised in the design and production of fasteners for the automotive, earthmoving, and agricultural sectors.
Giuseppe Fontana, CEO at Fontana Gruppo, outlines: “We are continuing our strategy of expanding into the local markets served by our customers, who demand timely and efficient service. Thanks to this acquisition, we will be able to significantly increase our production capacity while maintaining our high-quality standards, becoming the largest fasteners manufacturer in North America and worldwide.”
“With strong roots in Italy, we have always pursued a localization strategy that allows us to seize opportunities on every continent, keeping our minds and eyes open to the world. In this regard, the United States – where we have had a presence for many years – continues to represent a strong market,” continues Giuseppe.
Founded by Larry Berman and headquartered in Utica, Michigan, MNP Corporation is a leading manufacturer in the fastener industry. Today, it employs 1,000 people and operates five production facilities in Michigan and Illinois. Terri Chapman, CEO at MNP Corporation, stated: “This company has been my family’s legacy since 1970, and I’m proud to pass it on at a time of strength, with confidence in its future.”
Having spent a decade in the fastener industry experiencing every facet – from steel mills, fastener manufacturers, wholesalers, distributors, as well as machinery builders and plating + coating companies, Claire has developed an in-depth knowledge of all things fasteners.
Alongside visiting numerous companies, exhibitions and conferences around the world, Claire has also interviewed high profile figures – focusing on key topics impacting the sector and making sure readers stay up to date with the latest developments within the industry.
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