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End of 2009 Stock Report: PARK-OHIO

END of 2009 RESULTS
Park-Ohio’s Supply Technologies reported revenue, including fasteners, rose 13.5% to $94.2 million during the opening quarter of 2010, while operating income swelled to $4.5 million. 

“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.” 

Supply Technologies revenue dropped 37% to $328.8 million in 2009, primarily due to volume reductions in the heavy-duty truck industry. Segment operating income remained stable. 

Supply Technologies provides logistics services for 175,000 production components, including fasteners, to OEMs, other manufacturers and distributors. 

Supply Technologies has more than 1,500 employees at 50 logistics service centers in the U.S., Mexico, Canada, Puerto Rico, Scotland, Ireland, Hungary, China, Taiwan, Singapore and India, as well as operations in Asia. Web:supplytechnologies.com 

Overall Park-Ohio revenue dropped 34% to $701 million in 2009, while results narrowed to a $5.2 million loss for the year compared to a $119.8 million loss in 2008. 

2008
Park-Ohio’s Supply Technologies reported revenue, including fasteners, dropped 1.9% to $521.3 million in 2008, while operating income slipped to a $74.8 million loss. Capital expenditures were cut 87% to $931,000. Supply Technologies has more than 1,500 employees at 50 logistics service centers in the U.S., Mexico, Canada, Puerto Rico, Scotland, Ireland, Hungary, China, Taiwan, Singapore and India, as well as operations in Asia. 

HISTORY
Park-Ohio entered the fastener business in 1995 by acquiring RB&W. Subsequent fastener acquisitions included Arden Industrial Products Inc., Arcon Fastener Corp., Delo Screw Products Co., Direct Fasteners, Gateway Industrial Supply and Columbia Nut & Bolt Corp. and Purchased Parts Group Inc. 

In July 2005, Park-Ohio acquired Memphis, TN-based Purchased Parts Group Inc., an international distributor of production fasteners and other class C components. 

Supply Technologies provides logistics services for 175,000 production components, including fasteners, to OEMs, other manufacturers and distributors. ILS also engineers and manufactures precision cold formed and cold extruded products, including locknuts, SPAC nuts and wheel hardware. 

In November 2007 Park-Ohio Holdings Corp. changed the name of its Integrated Logistics Solutions business to Supply Technologies. The company’s business units include Columbia Nut and Bolt, NABS, and Direct Fasteners Ltd., which will also operate under the Supply Technologies name. 

In February 2007 Park-Ohio announced the closure of its RB&W plant in Kent, OH. The plant manufactures cold-formed auto fasteners. Production will reportedly be moved to a Park-Ohio facility in Canada. RB&W found it could make fasteners more cheaply near Toronto. 

ILS acquired New York-based fastener distributor NABS Inc. for $21.2 million in October 2006. NABS has five domestic and 14 international locations, with sales of $45 million in supplying the computer, electronics and consumer products industries. 

Corporate Office: 23000 Euclid Ave., Cleveland, OH 44117. 
Tel: 216 692-7200 Fax 216 692-7174
Web: pkoh.com
CEO: Edward Crawford, 70
Employees: 2,950
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