Auto Fasteners Boost Nedschroef Profit
Auto Fasteners Boost Nedschroef Profit
Jason Sandefur
Dutch fastener maker Nedschroef Holding NV reported profit for 2005 soared 75% to Euro 16.1 million (US$19.5 million). CFO Harrie Klerks attributed the profit increase to the improved performance of the company’s Fasteners division, which generated an 8.6% sales gain in the automotive market. Fastener operating income grew 33.5% to Euro 29.56 million (US$35.97 million).
Overall sales in 2005 grew 7.6% to Euro 368.6 million (US$446.1 million), with 86% of sales generated in the automotive industry.
Growth was sluggish for the company’s Nedshape business, according to Dutch News Digest. Nedshape manufactures cold-formed pressed components. Nedschroef hopes to boost sales though further acquisitions in this area. Web: nedschroef.nl �2006 FastenerNews.com
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