SHEFFIELD, England & ARMENTIÈRES, France--(BUSINESS WIRE)--Please replace the release dated June 19, 2019, with the following corrected version due to changes to the headline and first sentence of release.
The corrected release reads:
COOPER & TURNER ANNOUNCES EXCLUSIVITY FOR POTENTIAL COMBINATION WITH BECK INDUSTRIES
Andaray (Holdings) Limited and its direct and indirect subsidiaries (“Cooper & Turner”) have entered into an exclusivity agreement with Beck Industries (“Beck”) for potential combination of the two groups. The contemplated combined entity aims to be the first truly global manufacturer of safety critical fasteners, together supporting a broader range of industries – including renewable energy, tunneling, construction, rail, heavy equipment, downstream oil & gas, power generation and nuclear, among others.
Headquartered in Sheffield, England, Cooper & Turner serves a global customer base with manufacturing and distribution operations across the European Union, China and North America. This worldwide network enables Cooper & Turner to offer a seamless, one-stop shop solution for industrial fasteners that meet the highest levels of quality. Beck, a France-based manufacturer and distributor of fully certified, high-security bolting components, has built a global operation that complements and expands that of Cooper & Turner. The proposed combination of Cooper & Turner and Beck will broaden the geographic reach of both companies, enabling the supply of world-class products and services from 17 strategically positioned facilities throughout Europe, North America, Asia and North Africa.
“It’s an exciting time at Beck,” stated Hugues Charbonnier, President, Beck Industries. “Business is strong, order book is growing, and we have an opportunity with Cooper & Turner to potentially combine our complementary geographic footprint, technologies, and product portfolios to create an unequaled platform to serve our local and international clients.”
“We are energized by the possibility of joining forces with the Beck team to create a new global leader in high quality, mission-critical fasteners,” stated Tony Brown, Group CEO, Cooper & Turner. “Supported by our partners at the Watermill Group, which is a family owned investment company, we see tremendous opportunity to further serve the energy market worldwide.”
The potential combination of Cooper & Turner and Beck is subject to customary conditions, including consultation of the relevant works councils and obtaining required regulatory approvals.
About Cooper & Turner
Founded in the 1800s by Joseph and James Turner as a gun barrel manufacturer, Cooper & Turner is a UK-based manufacturer and distributor of high-strength, large diameter industrial fastener systems. The company serves global organizations in the wind energy, construction, structural bolting, OEM, oil & gas, rail and tunneling industries. Headquartered in Sheffield, England, Cooper & Turner has operations in the United Kingdom, China and the North America.
Beck Industries International Sprl is a European manufacturer and distributor of fully certified, high-security bolting components for refineries, power generation, subsea oil & gas and the nuclear power end markets. Founded in 1918 by Hélène Beck Crespel, the company is now a fourth-generation family business that has grown into an international entity with nine locations in Europe, Asia and North Africa. Learn more at beck-industries.com.
About the Watermill Group
The Watermill Group is a strategy-driven private investment firm that helps companies achieve their full potential through strategic transformation. For more than four decades, the family owned and managed firm has been acquiring, operating and improving companies. Watermill looks for businesses in which it can apply a unique combination of strategic insight and management expertise to re-imagine their future and drive growth.