Stock Report: H. PAULIN & CO.
Stock Report: H. PAULIN & CO.
Despite the automotive downturn, H. Paulin reported sales rose 2% to CAD 138.2 million during 2008, though the Canadian fastener manufacturer tallied a yearly net loss of CAD 729,000 compared with a CAD 1.8 million profit for 2007.
Paulin recorded charges of $3.1 million in the fourth quarter “due to the significant downturn in the automotive sector.”
Fourth quarter sales slipped 3% to CAD 29.42 million, while Q4 income declined to a loss of CAD 2.6 million, compared to a CAD 535,000 loss during the final quarter of 2007.
In 2008 Paulin appointed Murray Mateyk, 48, to the newly created position of CFO. Mateyk, a chartered accountant, reports to company president Richard Paulin.
Founded in 1920, Paulin manufactures and distributes bolts, nuts, screws, industrial fasteners, fluid system components, metal stampings, automotive parts and screw machine components.
Paulin supplies 41,000 standard fasteners and manufactures custom cold-headed products, metal stampings, screw machine products, self-locking fasteners and custom parts for the automotive, agricultural, electronics and appliance industries. Paulin also produces stainless and nonferrous fasteners.
Trademarks include Paulin, Papco, Easy-Spot, Work Savers, Loxxon, Pie-a-Pae, Uni-Bolt, Uni-Nut, Pro-Tip, Contractor Quality and Dominion.__Headquarters: 55 Milne Ave., Toronto, Ontario M1L 4N3 Canada. Tel: 416 694-3351 Fax 416 694-1869
CEO: Richard Paulin
Employees: Over 600
Related Links:
• Paulin
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