HazenTec changes hands

The assets of HazenTec, L.C., Hazen, Ark., have been sold to a private investment corporation whose shareholders are connected to MNP Corp., Utica, Mich., a major supplier of industrial fasteners. The company will operate as Hazen Powder Parts and specialize in high-strength PM parts made from steel, stainless steels, and magnetic materials.

Originally founded in 1983 by Remington Arms, HazenTec was purchased by Capstan Industries in 1994, and changed hands again in 1998. The company has about 150 employees and will retain the same management staff.

MNP is a privately held company with about 1,000 employees in more than 18 plants in Michigan, Ohio, Pennsylvania, and Illinois. It supplies OEMs and Tier 1 companies with screws, rivets, and critical engine fasteners such as bolts for connecting rods and main bearing caps.

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