July 31, 2012. The Fletcher-Terry Company, LLC of East Berlin, CT, an industry-leading manufacturer of industrial machinery, tools, equipment and consumable supplies, is pleased to announce that it has agreed to acquire two Illinois Tool Works (NYSE:ITW) businesses, AMP and Alfamacchine, Srl. AMP has operations in Vernon Hills, Illinois and Pontotoc, Mississippi. Alfamacchine is located in Forli, Italy.
Under the terms of the sale, AMP and Alfamacchine will each become wholly owned subsidiaries of Fletcher-Terry. The purchase includes all of AMP and Alfamacchine’s property, equipment, patents and intellectual property. Fletcher-Terry intends to operate the two businesses independently and will continue operations at all existing AMP and Alfamacchine facilities. Fletcher will continue ITW’s tradition of offering trade accounts and multi-site retailers innovative products and outstanding service.
Fletcher-Terry president Blair Tomalonis commented, "We are very excited to have AMP and Alfamacchine join The Fletcher Business Group. These two strategic acquisitions dovetail perfectly with our core businesses as we continue to serve our OEM and wholesale trade accounts in the wall décor and picture framing markets.
Alfamacchine provides us with a manufacturing base in Europe and enables us to better serve our customers globally as we continue to expand our production and distribution facilities.”
Mr. Tomalonis continued, “These two acquisitions will help us strengthen our relationships with our distribution and OEM channel partners.”
Timm Fields, General Manager of ITW’s NA Commercial Construction Division, agrees. “When ITW decided to divest these two businesses, we could not think of a better strategic fit than Fletcher-Terry. Our customers will continue to receive the high level of service and premium-quality fastening products and solutions they have come to expect from AMP and Alfamacchine.”
With the AMP and Alfamacchine acquisitions, The Fletcher Business Group will expand the products and services it offers to a variety of markets globally including picture framing and wall décor, sign and digital graphics, hardware, industrial glass, aerospace components, logistics and contract manufacturing.
The Fletcher-Terry Company, founded in 1868, is located in East Berlin, Connecticut and designs, engineers and manufactures advanced technical products and solutions to a wide variety of industries. Fletcher has been awarded over 90 U.S. patents since the company was founded nearly 150 years ago. Fletcher services and supports valued customers in the areas of industrial and commercial glass production and fabrication, sign and graphics, retail hardware, picture framing and wall décor fabrication in more than 60 countries. For more information, please visit www.fletcher-terry.com
About Illinois Tool Works (NYSE: ITW)
Illinois Tool Works is a leading international business corporation with 100 years of history. ITW is a diversified manufacturer of advanced industrial technology who designs and produces an array of highly engineered fasteners and components, equipment and consumable systems, and specialty products and equipment for customers around the world. The business units that comprise ITW’s international business corporation are located in 52 countries and employ approximately 60,000 men and women who are focused on creating valueadded products and innovative customer solutions. For more information, please visit www.itw.com