JET Equipment & Tools Ltd. of Burnaby, B.C. has announced that it has purchased the hand tool inventory and packaging equipment from Hastings, Inc. of Barrie, Ont., which recently ceased operations and is under the direction of the receivers. JET will offer the established line of Hastings specialty automotive hand tools and equipment as well as products sold under the brand names Ferret, Neway and Kal Equipment. The offerings include hand tools, air tools, material handling equipment and machinery, under the JET and ITC brands. In the U.S., JET will continue to distribute and grow Hastings brand hand tools under the business name of H.S.T. Tool Company.