Widespread Sales Growth in 2010 Recovery
FEATURE
If your company had a sales problem in 2009, then there’s a good chance you found a solution in 2010.
Sales and profit gains in the fastener industry were widespread as aerospace, automotive and industrial demand grew.
Three-quarters of fastener companies participating in the End of 2010 Survey of the Fastener Industry claimed “moderate” to “strong” increases in sales and profit during the year. Those results follow a difficult 2009, when fewer than 10% of fastener firms reported sales growth.
About 44% of survey participants reported moderate cost increases, while 41% said costs remained unchanged throughout the year.
More than seven in 10 fastener companies anticipate prices increases in 2011.
Roughly 50% of fastener companies intend to add jobs in the coming months.
After five straight years of declines, the level of capital investment in the fastener industry increased in 2010.
The full End of 2010 Survey of the Fastener Industry results are available to FIN subscribers in the FIN Survey section of GlobalFastenerNews.com.
A 2-page FIN Survey summary can be purchased in the FIN Article Store by clicking here. ©2011 GlobalFastenerNews.com
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