KAY <KAY> TO ACQUIRE SPECIALTY FASTENER FIRM Kay Corp said its Balfour, Maclaine International Ltd subsidiary signed a letter of intent to acquire certain assets of a privately-owned distributor of specialty fasteners for about 13 mln dlrs plus management incentives, which it did not disclose. Kay said the firm has annual sales of about 15 mln dlrs. Kay also said it is pursuing private placement of debt securities for a number of corporate purposes.