Federal Screw Works is domestic manufacturer of industrial component parts. The Company serves the automobile industry with products such as locknuts, bolts, piston pins, studs, bushings, shafts and other machined, cold formed, hardened and/or ground metal parts. The Company’s products are manufactured at several Michigan locations and are fabricated from metal rod and bar. The majority of these sales are to manufacturers of automobiles and trucks and also to the manufacturers of nonautomotive durable goods. The Company operates in four business segments, which include Big Rapids Division, Romulus Division, Traverse City Division and Novex Tool Division.