Porteous Fastener Buys Certain Assets of Heads and Threads International

On May 17 Porteous Fastener completed the acquisition of the certain assets of Heads and Threads International including remaining inventory, fixed assets, and intellectual property rights. General Manager Barry Porteous of Porteous Fastener said, “This is the longest and most difficult negotiation. I think this will be the best outcome for those suppliers who have not been paid since last mid-December.” Inventory management director Bruce Darling of Porteous said, “Most remaining products are in good condition.” This expands the product range of Porteous, especially socket screws. Porteous is the master distributor of industrial and construction fasteners.