Industrial Distribution

Manufacturers are hunting for new partners.

Acquisitions by Greenfield Industries and Wilton Corp. signal consolidation among manufacturers

In an effort to gain market share and meet single source requirements, the distribution industry has been in an acquisition mode lately. Apparently, the manufacturing sector is catching the bug, too.

Two major moves were announced in September. Augusta, Ga.-based Greenfield Industries agreed to purchase Cleveland Twist Drill Co., and Wilton Corp. announced its intent to acquire most of the assets of Warren's Tool Group Division. Both moves were made to enhance the acquiring firm's position in the marketplace.

Greenfield Industries has stated it is in an acquisition mode, and its agreement to purchase cutting tool manufacturer Cleveland Twist is only the beginning. …

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