Global Fastener News

FastenTech Fastener Sales Soar

FastenTech Inc. reported sales for its specialized components segment, including fasteners, rose 22% to $42.78 million during the third quarter of fiscal 2005, driven by increased demand from the industrial, construction and heavy truck markets. Q3 segment profit grew 15% to $6.7 million.
For the first nine months of 2005 specialized component sales increased 23% to $119.4 million, while profit soared 27.5% to $18.36 million.
Overall sales for Minneapolis-based FastenTech improved 29% to $79.2 million during Q3, while operating income edged up 2% to $9.3 million. Nine-month sales grew 41% to $223.7 million, while operating income jumped 19% to $25.1 million.
FastenTech manufactures highly engineered specialty components, including engine bolts, externally threaded fasteners, shear connectors, concrete anchors, punching resistor studs and inserts, for the power generation, industrial, military, construction, medium and heavy duty truck, recreational and automotive markets. Web: fastentech.com �2005 FastenerNews.com