FastenTech tenders for $11.8 million 11½% notes due 2011

By Jennifer Chiou

New York, Sept. 6 - FastenTech Inc. said it launched a cash offer to repurchase up to $11.8 million of its 11½% senior subordinated notes due May 1, 2011 at 100% plus accrued interest.

The offer ends at 5 p.m. ET on Oct. 4, unless extended.

On Sept. 10, 2004, subsidiaries FabriSteel Products, Inc. and Profile Steel & Wire, Co. sold almost all of their respective assets. According to the notes' indenture, FastenTech must use a portion of the proceeds for the repurchase.

The Bank of New York is the depositary and information agent (212 815-5098).

Based in Minneapolis, FastenTech, Inc. manufactures and markets specialty components for power generation, military and construction.

The company originally issued $175 million of the notes on April 24, 2003.

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