| Top Ten Fastener Deals of 2009 |
"There does appear to be a pick-up in fastener industry deal activity so far in 2010; however, we do not foresee a return to prior levels of deal-making until the arrival of a general consensus that the ongoing recession has "bottomed out" and the global economy is back on-track for steady / stable growth."
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| Stock Report: ALCOA |
After reporting disappointing sales for 2009, Alcoa re-aligned its Engineered Products and Solutions (EPS) business, including Alcoa Fastening Systems, to serve the aerospace, automotive, commercial transportation, building and construction, and oil and gas markets.
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| Stock Report: ANIXTER |
Anixter International reported sales at its North American OEM Supply segment, including fasteners, outperformed the company's other business units in 2009.
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| Stock Report: BARNES GROUP |
Revenue at Barnes Logistics and Manufacturing Services, including fasteners at Barnes Distribution, slipped during 2009, hurt by continued weakness in transportation and industrial markets.
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| Stock Report: B/E AEROSPACE |
B/E Aerospace said a decline in fastener segment sales "reflects reduced activity at airline and MRO maintenance facilities, reduced aircraft capacity, a decrease in revenue passenger miles flown, and substantially reduced activity at business jet manufacturers."
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| Stock Report: CARPENTER TECHNOLOGIES |
"Aerospace results reflect increased sales of engine components, which were more than offset by lower demand for fasteners" in 2009, the company stated.
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| Stock Report: CHICAGO RIVET |
"Economic conditions... had a dramatic impact on revenues in both the fastener and assembly equipment segments," Chicago Rivet reported.
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| Stock Report: DANAHER |
In the fastener industry Danaher was known for West Hartford, CT-based Holo-Krome, which has manufactured socket screws and other fasteners for over 70 years. Fastenal bought Holo-Krome in December 2009.
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| Stock Report: DORMAN |
Dorman Products continued growing its revenue, with 2009 sales "driven by strong overall demand for our products and higher new product sales.
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| Stock Report: FASTENAL |
Investors have flocked to Fastenal in recent months, encouraged by the company's growth. Company shares rose 19.5% during an otherwise challenging year that saw the company shed 1,500 workers - about 11% of its workforce - and reduce store openings by more than half.
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| Stock Report: GRAINGER |
Grainger plans to open a 1 million sq ft distribution center in Minooka, IL, by 2012, with renovations slated to begin in 2010. The new facility is expected to house more than 450,000 industrial supply items, with a staff of 400 warehouse and logistics employees.
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| Stock Report: ITW |
With "virtually all OEMs boost(ing) production," ITW reported sales and profit at its Transportation segment, including fasteners, grew "as Q4 auto builds significantly ramped up in Europe and North America."
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| Stock Report: LAWSON PRODUCTS |
Fastening systems accounted for 19% of company revenue in 2009, down from 20% the previous year.
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| Stock Report: MSC INDUSTRIAL |
MSC said both inventory turns and days sales outstanding in receivables improved, reflecting what CEO David Sandler called a "solid performance against a backdrop of improving market conditions."
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| Stock Report: NUCOR |
Nucor Fastener filed antidumping and countervailing petitions with the U.S. Commerce Department in September 2009 alleging average dumping margins of 145% for Chinese imports, and 74% for imports from Taiwan.
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| Stock Report: PARK-OHIO |
"We are pleased with the start to 2010," stated CEO Edward Crawford. "Most business units performed ahead of our expectations and continue to build momentum for the balance of the year."
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| Stock Report: H. PAULIN |
H. Paulin reported operating income rose in 2009 despite a decrease in sales.
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| Stock Report: PRECISION CASTPARTS |
"With aerospace destocking at an end, direct aerospace OEM orders are seeing a gradual recovery, with solid upside in the second half of fiscal 2011 in response to the ramp of 787 production and higher aircraft build rates," the company stated.
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| Stock Report: SIMPSON MFG |
Sales to distributors and home centers contracted due to continued weakness in the U.S. housing market.
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| Stock Report: STANLEY BLACK & DECKER |
The $3.5 billion Stanley Black & Decker merger, completed in March 2010, gave Stanley a 50.5% stake in the new $8.4 billion industrial supplier.
Included in the deal was Shelton, CT-based Emhart Teknologies, a global manufacturer of fasteners and assembly systems.
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