National Metal Manufacturing Sales Jump
National Metal Manufacturing Sales Jump
Jason Sandefur
Saudi Arabian fastener manufacturer National Metal Manufacturing & Casting reported sales grew 30% to SAR 369.4 million (US$98.7m) in its most recent annual report.
National Metal, which produces both high and-low grade galvanized steel carbon wire and strand, galvanized steel low carbon wire and strand, along with industrial fasteners and steel nails, said after-tax profit increased 15% to SAR 20.7 million (US$5.5m). Working capital sunk 42% to SAR 12.5 million (US$3.3m), while total assets gained 3% to SAR 452.2 million (US$117m).
Founded in 1993, National Metal operates a ISO 9001:2000-compliant plant at Jubail Industrial City in the Eastern Province of Saudi Arabia that produces more than 60,000 tons of steel wire, fasteners and other wire products for the construction, appliance, electrical cable, building system, steel fabrication and furniture industries. E-mail: sales@natmetalco.com Web: natmetalco.com �2008 FastenerNews.com
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