TFS to Raise Prices
March 17
00:00
2005
TFS to Raise Prices
Jason Sandefur
Parent company Textron Inc. indicated that Textron Fastening Systems would fall “significantly short” of forecasts for the first part of 2005, hit hard by steel hikes. TFS was expected to achieve $1.9 billion in sales and about 3.5% in operating margins during 2005.
Textron said product price increases should help TFS meet annual earnings targets during the second half of the year. Weakness at TFS would be offset by better-than-expected results in other segments, Textron reported. Web: textronfasteningsystems.com �2005 FastenerNews.com
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