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New Heads & Threads Re-Enters Fastener Market
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2011-10-30
Following a brief period of re-organization, Heads & Threads International has re-entered the industrial fastener market, announced executive vice president Gordon Anderson. Founded in 1953, HTI is known for bulk fasteners, stock for release and mill programs.
Bill Marthens is president of HTI, and Anderson — a 35-year fastener industry veteran — is executive vice president and the new HTI is headquartered in Dallas, TX.
HTI will start with four distribution centers in Ohio, Virginia, New York and Texas.
Anderson told GlobalFastenerNews.com that HTI will officially unveil its new business and executive team at the National Industrial Fastener & Mill Supply Expo in Las Vegas.
HTI went into receivership early this year with US$16 million in debt.
In May, Porteous Fastener Company acquired HTI's inventory, warehouse racks and other equipment at auction for just under US$12 million. Porteous Fastener closed HTI's five branches and consolidated the inventory into its own facilities. Porteous Fastener did not purchase the branding rights and intellectual properties of HTI, and is not involved in the emerging HTI business, which is under new ownership.
Before going into receivership, HTI was a master distributor and importer with a product list of 14,000 items.
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reference from FIN
2011-10-30

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