Fastener Stock Results Mixed
FEATURE
Auto suppliers get boost, while aerospace lull hurts revenue
Fastener stock results were mixed this week, with automotive suppliers getting a boost from robust global vehicle production.
Aerospace fastener suppliers faced tougher conditions in the first half of 2010, as inventories remain slim and many new orders await progress on Boeing’s 787 Dreamliner production schedule.
Here is a summary of fastener sales results over the past few months.
Robust Vehicle Production Pushes TRW Sales Higher
“TRW’s success at winning new business due to our leading technology portfolio combined with the overall industry recovery and dynamic growth in emerging markets provides a solid foundation for future growth,” stated CEO John Plant.
Stalling Aerospace Sales Hurt TriMas Fastener Revenue
While defense sales grew, the increased revenue associated with managing the facility closure and relocation was at lower margin levels.
Distributor Sales Boost Simpson Strong-Tie Revenue
The growth in the United States was strongest in the midwestern and northeastern regions, while sales in both California and the western region declined slightly.
Carpenter Tech Reports Uneven Fastener Demand
Demand for Carpenter Technology Corp.’s fastener products produced mixed results in the three-month period ended June 30.
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