Nail Jack Purchase of Irwin Factory Falls Through
We just got wind of the bad news that Nail Jack's attempt to purchase the Nebraskan tool factory that Iriwn left behind upon moving manufacturing to China is not going to happen. It looks like it came down to a money issue. According to a story in the Omaha World Herald, Michael Foley, co-founder of Nail Jack finally reached the breaking point on how much money to put into the purchase, forfeiting the $70,000 he already put down. Ouch.
The story is here and we have to warn you that it's not very cheerful. But if you're looking for something positive to read, you should check out our review of the Nail Jack (here).
As always, we'd like to thank Tool Crib for keeping us up on this story and for introducing us to the Nail Jack. Their latest post on the factory purchase is here.
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Posted by Doug Mahoney at April 23, 2009 5:04 AM
thats a shame, I was hoping something would be able to be worked out. I still dont understand why Irwin pulled the plug on visegrips factory in the firstplace, anyways I will not be purchasing them anymore, there are still some U.S. made variations of the tool.