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HOUSTON-Industrial Holdings Inc. is looking to sell its Engineered Products Group, a maker of cold-formed fasteners and specialty metal components. The division primarily services original equipment manufacturers in the home furnishings, automotive and electrical components industries. IHI’s board has decided the disposition would be “in the best interest of the company” so it can focus on its energy-related business, as that sector heats up.

The group that went on the auction block includes:

Orbitform, located in Jackson, MI, which manufactures orbital and impact fastener setting equipment as well as semi- and fully automated assembly systems;

American Rivet, based in Chicago, a supplier of cold-headed special and standard fasteners;

Ideal Products of Beacon Falls, CT, a manufacturer of cold-headed pin and wire products;

and Landreth Products, which is located in Houston, a designer and producer of cold-formed products such as rivets and fasteners.

But IHI would like to keep an interest in these enterprises, according to Robert E. Cone, president and CEO. He says the streamlined parent company will be “in a great position” to focus on the energy field.

IHI currently manufactures and refurbishes valves and control systems for major drilling contractors, and supplies pumping and rotating equipment and services in the oil and gas markets,” Cone says. “Our involvement in both the upstream and downstream energy markets should increase substantially.”

With that switch in mind, IHI has beefed up its board with the addition of Don Carlin, former president of Moores Pump & Supply, Inc., an IHI subsidiary, and Andrew Cormier, now president of the IHI Energy Group. “Because of our focus on energy,” Cone says, “the board needed the strengths and insights that Andrew Cormier and Don Carlin have.

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