Global Fastener News

Premier Farnell Boosts Lawson

John Wolz

� Boosted by the acquisition of product lines from Premier Farnell plc, Lawson Products Inc. reported second quarter 2001 sales rose 10.4% from the same period last year to $98,980,000.
However, second quarter net income dropped 40.6% to $3,988,000
Sales for the first half of 2001 rose 3.8% to $182,630,000.
Lawson took over the North American Industrial Products and Kent Automotive divisions of Premier Farnell on March 30, 2001.
The company statement added that “non-recurring expenses related to the acquisition, as well as a weakening economy, adversely impacted our second quarter results.”
CEO Robert Washlow said Lawson is “investing in sales support functions necessary for our expanded business activities and we are beginning to realize benefits from those investments. ”
Lawson added 430 sales representatives for the product lines. Web: lawsonproducts.com �2001 FastenerNews.com