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CHICAGO RIVET & MACHINE CO. PURCHASES TOWNSEND AUTOMATION FROM TEXTRON INC.

 NAPERVILLE, Ill., May 7 /PRNewswire/ -- Chicago Rivet & Machine Co. (AMEX: CVR) today announced that it has acquired, for cash, certain operating assets of Townsend Automation from Textron Inc. (NYSE: TXT). Chicago Rivet will transfer manufacturing operations from Townsend Automation's current location in Braintree, Mass., to Chicago Rivet's existing facilities in Tyrone, Pa., and Albia, Iowa. Chicago Rivet will maintain a sales and engineering office in Braintree.
 Townsend Automation was principally engaged in the manufacture of customized fastener installation and automated assembly equipment, standard rivet setting equipment, lacing hooks and cold-headed studs.
 Chicago Rivet, headquartered in Naperville, Ill., is principally a manufacturer of tubular rivets, cold-headed fasteners and automatic rivet setting machines.
 Textron Inc. is a multi-industry company with operations focused in three business sectors -- Aerospace Technology, Commercial Products and Financial Services.
 -0- 5/7/93
 /CONTACT: John C. Osterman of Chicago Rivet, 708-357-8500/
 (CVR TXT)


CO: Chicago Rivet & Machine Co.; Townsend Automation ST: Illinois IN: SU: TNM

SH -- NY058 -- 6035 05/07/93 14:41 EDT
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Publication:PR Newswire
Date:May 7, 1993
Words:166
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