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Northern Safety to be acquired by German conglomerate
FRANKFORT, N.Y. — Northern Safety and Industrial, a company based about 10 miles east of Utica that sells safety and industrial supplies, is being bought by the Würth Group, a Germany–based company whose main business is in assembly and fastening materials. No job cuts are planned as a result of the pending change in ownership, […]
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FRANKFORT, N.Y. — Northern Safety and Industrial, a company based about 10 miles east of Utica that sells safety and industrial supplies, is being bought by the Würth Group, a Germany–based company whose main business is in assembly and fastening materials.
No job cuts are planned as a result of the pending change in ownership, according to a company news release. Northern Safety has nearly 500 employees, about half of whom work in New York state, according to Northern Safety’s vice president of marketing, Kathleen Pezzulo.
The acquisition is scheduled to close at the end of July, according to Pezzulo, who declines to disclose terms of the acquisition.
Northern Safety has two New York state facilities, both in the Herkimer County town of Frankfort. One is its headquarters, situated at 232 Industrial Park Drive, which will not be moved as a result of the pending acquisition, the company says.
“Northern Safety has been one of the largest privately owned companies in this market for a long time,” Marc Strandquist, executive vice president of the Würth Group, says in the release. “The Würth Group has a long-standing strategy of enhancing our product offering. The acquisition of Northern Safety supports that strategy. Their core competency of personal protective equipment and safety supplies is a great complement to our current offerings.”
Northern Safety’s current owner and CEO, Salvatore Longo, who founded the company in 1983, says in the release that the firm is excited about joining the Würth Group.
“Northern Safety will be the platform company for safety and industrial supplies in North America,” Longo says. “We have a large long-term investment with the Würth Group, and they’ve committed substantial resources to grow this company,”
Northern Safety has 16 other facilities outside of New York state, according to its website — five in Texas, three in Tennessee, two in Oklahoma and Louisiana, and one in Delaware, Missouri, South Carolina, and Georgia.
The Würth Group is privately held, and comprised of more than 400 companies, located in over 80 countries, according to the release. It employs more than 66,000 people.
Contact Nick Kapteyn at nkapteyn@cnybj.com
New York posts second-largest rise in jobless claims in latest week
New York reported the second-biggest increase in jobless claims of all 50 states in the latest week, according to a U.S. Department of Labor news
People news: ACEC New York appoints Kime as a director
AUBURN, N.Y. — Beardsley Architects + Engineers announced that its employee Joseph S. Kime, structural engineer, was recently appointed as a director of ACEC New York (the American Council of Engineering Companies of New York). Kime will represent the ACEC Central Region, acting as the liaison between the state organization and the Central New York
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Click here to purchase a paywall bypass link for this article.
AUBURN, N.Y. — Beardsley Architects + Engineers announced that its employee Joseph S. Kime, structural engineer, was recently appointed as a director of ACEC New York (the American Council of Engineering Companies of New York).
Kime will represent the ACEC Central Region, acting as the liaison between the state organization and the Central New York Chapter, Beardsley said in a news release.
In addition to ACEC New York (www.acecny.org), Kime is also a member of the Society of American Military Engineers and the American Society of Civil Engineers.
First Niagara hires former HSBC executive to lead commercial card and payments unit
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The New York State Public Service Commission (PSC) has approved an area-code overlay in the 315 area-code region serving all or part of 18 counties
NYS Labor Department: CNY job growth mixed in the last year
The Syracuse, Utica–Rome, and Ithaca regions gained jobs between June 2014 and this past June. At the same time, the Binghamton and Watertown-Fort Drum regions
U.S. Navy awards Lockheed Martin a contract modification worth nearly $154M
SALINA, N.Y. — The U.S. Navy has awarded Lockheed Martin Corp. (NYSE: LMT) a nearly $154 million modification to a previously awarded contract for block
Syracuse business owner accused of failing to pay sales taxes
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Cuomo: unemployment insurance interest-assessment surcharge to be lowest in 5 years
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Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.