A Raymond Acquires Tinnerman to Form Combined Fastener Group

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ROCHESTER HILLS, Mich., November 09, 2009 – A Raymond, a leading global supplier of automotive engineered fastening and fluid-handling connections systems, has acquired Tinnerman Palnut Engineered Products of Brunswick, Ohio.

A Raymond will merge its current North American operations with Tinnerman to form A Raymond Tinnerman Manufacturing.

The acquisition will substantially expand A Raymond’s presence in automotive as well as other industrial markets in North America, according to David J. Nenno, president of the new operating group.

“We’re creating a powerful, new North American organization to provide our customers with a better, more competitive and complete portfolio of plastic and metal fasteners, fluid quick-connectors and other assemblies,” Nenno said.

Merger talks between the two companies began six months ago.

Nenno noted that Tinnerman has been supplying A Raymond with metal fasteners for the past year. The two companies supply most of the world’s leading automakers, as well as Tier One auto suppliers and other industrial manufacturers.

Tinnerman is a leading supplier of engineered metal-clip fasteners and precision metal stampings for the auto industry with 482 employees at facilities in Brunswick, Ohio; Flemingsburg, Ky; Logansport, Ind.; Southfield, Mich., and Hamilton, Ontario, Canada.

A privately held company based in Grenoble, France, for North America, A Raymond currently has 133 employees at two manufacturing plants in the Detroit suburb of Rochester Hills.

North American employees of A Raymond and Tinnerman were informed of the acquisition in a series of plant meetings held over the past several weeks. In total, the two companies have 3,700 employees working in 21 countries around the world in manufacturing, engineering and sales.

Financial terms of the acquisition were not released.

About A Raymond

A Raymond was founded in 1865 to produce fasteners for the European textile industry. Since then, A Raymond expanded continuously and has become one of the leading global experts in engineered clip fastening solutions today. A Raymond is now a network of companies in all regions of the world and is still privately owned, with headquarters in Grenoble, France. The group consists of 34 companies with 19 manufacturing facilities and 10 engineering centers. More than 25,000 clip fastening, bonding and fluid connection solutions are available. Automotive applications include interior, exterior, powertrain, fluid systems and electrical products. In addition, A Raymond is serving other markets, such as building, solar power, medical, agriculture, consumer goods and other growth areas. U.S. headquarters are in Rochester Hills, Michigan. For more information, visit www.araymond.com.

About Tinnerman

Tinnerman, founded in 1870, is a U.S. based leader in design, production and supply of highly engineered connection systems that significantly reduce product assembly labor, warranty costs and product assembly complexity. Products produced by Tinnerman include: spring steel fasteners, precision stampings, automation and assembly aids and complete sub-assemblies to automotive and industrial original equipment manufacturers. The company’s customers include major automakers, Tier One suppliers and other industrial manufacturers. For more information visit www.tinnerman.com.

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