Profile: P&F Industries Inc (PFIN.O)
25 Jul 2016
P&F Industries, Inc. (P&F), incorporated on April 19, 1963, conducts business through its subsidiaries. The Company operates through two segments: tools and other products (Tools), and hardware and accessories (Hardware).
P&F conducts its Tools business through a subsidiary, Continental Tool Group, Inc. (Continental), which in turn operates through its subsidiaries, Florida Pneumatic Manufacturing Corporation (Florida Pneumatic) and Hy-Tech Machine, Inc. (Hy-Tech). Florida Pneumatic imports and sells pneumatic hand tools, most of which are of its own design, primarily to the retail, industrial and automotive markets. This line of products includes sanders, grinders, drills, saws and impact wrenches. These tools are similar in appearance and function to electric hand tools, but are powered by compressed air. Florida Pneumatic imports approximately 75 types of pneumatic hand tools under the names, Florida Pneumatic, Universal Tool, AIRCAT or NITROCAT, as well as under the trade names or trademarks of several private label customers. These products are sold to retailers, distributors and private label customers through in-house sales personnel and manufacturers' representatives. The AIRCAT and NITROCAT brand of pneumatic tools are sold primarily to the automotive market. Users of Florida Pneumatic's hand tools include industrial maintenance and production staffs, do-it-yourself mechanics, automobile mechanics and auto body personnel. Florida Pneumatic also markets through its Berkley Tool division (Berkley), a product line, which includes pipe and bolt dies, pipe taps, wrenches, vises and stands, pipe and tubing cutting equipment, hydrostatic test pumps, and replacement electrical components for a brand of pipe cutting and threading machines. Florida Pneumatic markets Berkley's products through industrial distributors and contractors. Florida Pneumatic sources its Berkley product line from China and Israel, as well as from domestic sources. Florida Pneumatic also assembles and markets a line of compressor air filters, for which it imports components from Mexico.
Hy-Tech manufacturers and distributes its own line of industrial pneumatic tools and parts under the ATP brand. Under the ATP brand, Hy-Tech produces and sells over 60 types of pneumatic tools, which include impact wrenches, grinders, drills and motors. Users of ATP parts and tools include refineries, chemical plants, power generation facilities, heavy construction enterprises, and oil and mining companies. It also manufacturers tools to customer specifications. In addition, Hy-Tech manufactures a line of pneumatic tool replacement parts that are sold to original equipment manufacturers (OEMs). It also manufactures and distributes high pressure stoppers for hydrostatic testing of fabricated pipe under the Thaxton brand name. It also produces a line of siphons under the name, Eureka. Other than a line of sockets sold under the brand name, OZAT that are imported from Israel, all Hy-Tech products are made in the United States of America. A subsidiary of Hy-Tech, includes the business of Air Tool Service Company (ATSCO), an Ohio-based corporation, which is engaged in the design, manufacture and distribution of pneumatic tools and parts. All ATSCO products are manufactured in Hy-Tech's primary facility located in Cranberry, Pennsylvania. Hy-Tech products are sold through its in-house sales force, as well as manufacturer representatives
The Company conducts the Hardware business through its subsidiary, Countrywide Hardware, Inc. (Countrywide). Countrywide conducts its business operations through its subsidiary, Nationwide Industries, Inc. (Nationwide). Nationwide is a developer, importer and manufacturer of fencing hardware, patio products, and door and window accessories, including rollers, hinges, window operators, sash locks, custom zinc castings and door closers. Nationwide's products are sold through in-house sales personnel and independent manufacturers' representatives to distributors, dealers, retailers and OEM customers. End users of Nationwide's products include contractors, home builders, pool and patio enclosure contractors, plumbers, OEM/private label customers and general consumers. Nationwide out-sources the manufacturing of its product with a number of overseas factories located in China and Taiwan. Nationwide manufactures its products sold, including rollers, hinges and pool enclosure products at its facility in Tampa, Florida. Nationwide also provides value-add services for the product line with local packaging, kitting, rework and fabrication operations performed in its Tampa location.
P&F Industries Inc
445 Broadhollow Rd
MELVILLE NY 11747-3669