MW Industries, Inc. Announces Acquisition of Hi-Tech Machine

"MW Industries, Inc., a leading U.S. manufacturer of highly engineered specialty springs and fasteners, announced that it has completed the acquisition of substantially all of the assets of Hi-Tech Machine.

Hi-Tech, of Concord, North Carolina, is a precision machining business that serves the medical, aerospace, military/defense and hand power tool markets. It is planned that Hi-Tech's equipment and customers will be integrated into MW's Springmasters Division, based in Greer, South Carolina, over the next few months. Brad Gryder, Owner and President of Hi-Tech, will be joining the Springmasters Organization to work on integration of the existing business base and drive growth opportunities that the combined strengths of Springmasters and Hi-Tech represent.

Bill Marcum, CEO of MW Industries, commented: ""Hi-Tech Machine is an outstanding addition to the MW family. Brad Gryder built a solid base of machining capabilities with first class equipment and customer service. We look forward to taking this business to the next level as we combine it with our existing Springmasters Division in the Greenville, South Carolina, area."""