Solid Gains in Aerospace, Automotive and Industrial Markets Spur Fastener Demand
FEATURE
Fastener companies are seeing “real demand improvement”, prompting them to ramp up to meet growing demand in the aerospace and industrial sectors.
Precision Castparts Corp. reported nine-month sales for Fastener Products grew to $1 billion, with two major catalysts accelerating aerospace sales growth.
Nucor Corp. forecasts “real demand improvement” as fastener segment sales rise, though the steelmaker warned of at least one potential roadblock to growth.
Higher margins at Fastenal’s smaller stores are driving company earnings going forward, as EBIT margins are hitting levels once considered out of reach.
Emhart Teknologies delivered sales growth driven by market share gains and increased platform penetration as well as increased automotive production.
Grainger reported record sales and profits in the U.S. and Canada.
Carpenter Technology said “channel activity within the nickel and stainless fastener segments still indicates a pick-up in fastener demand during the second half of the fiscal year.”
The Würth Group reported 2010 global sales bested its 2009 performance while boosting jobs. ©2011 GlobalFastenerNews.com
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