NEWS Bossard 2010 sales up in all regions


Bossard Group reported 2010 sales up 20.9% to CHF 477.6 million (approximately 377 million euros). In local currencies Europe and America sales regions both reported increases of more than 20%. Asian business grew by more than 46%.


E


uropean sales totaled CHF 261.3 million representing growth in local currencies of 21.4%. American annual sales were US$123.5 million, up 21.1% on 2009. Asian sales in 2010 rose 46.1% to CHF 87.5 million. Korea reported the highest growth rate at almost 90%. Asian revenue accounted for 18% of total sales in 2010, compared with 15% in 2009.


Europe continues to represent more than half of sales, sliding slightly from 56.8% to 54.7% year-on-year. Bossard has around 1,500 employees in 50 locations worldwide.


Board change in April At the 12th


April 2011 meeting of shareholders Rolf E. Thurnherr, currently deputy chairman


of the board of directors, will step down from the board as previously announced by Bossard. The board will propose the election of professor Stefan Michel to replace him. Stefan Michel


studied economics at Zurich University and focused on marketing for his doctorate. Since 1998 he has lectured in marketing including fi ve years teaching and research in the United States. Professor for marketing and service management at IMD Business School in Lausanne, Switzerland since 2008, one of his main interests is business-to-business service innovation and pricing. Aside from his academic activities, Stefan Michel served as project manager at Bank Leu AG, was responsible for the operational management of a family business and heads his own consulting fi rm.


Zug warehouse capacity to double Bossard Group will invest CHF 22 million (approximately 17.4 million euros) in expanding and


enhancing its logistics centre in Zug, Switzerland. The planned expansion will almost double the warehouse to provide capacity for 530,000 stock


units and some 18,000 pallets. The installation of “cutting-edge inventory management and conveyor systems” is aimed at increasing the effi ciency with which Bossard offers comprehensive fastening solutions to its customers, enhancing capacity and increasing throughput volume. A geothermal system will be used to heat the logistics centre and adjacent administration


building. Construction will start in spring 2011 and the extension is expected to be operational during 2012.


PSM International buys BAS Components


PSM International Holdings Limited has acquired BAS Components Ltd from TT Electronics plc, for approximately fi ve million euros in cash.


T


he BAS Components business comprises the entire share capital of BAS Components Ltd, based in Pembroke, Wales and BAS Components Inc., a sales offi ce based in Ohio, USA. PSM International’s European managing director Ian Atkinson commented: “This is a great acquisition for PSM since there is tremendous synergy between the two companies.


The PSM and BAS product ranges of Anchor Rivet bush, PS Self Clinch and Flangeform along with the BAS in-die feed system technology allows both companies to offer a much broader range of sheet metal fi xing solutions across a wide range of applications and market sectors. Both companies have a long experience working in sheet metal applications and both have the same application engineering ethos. I am really looking forward to working with BAS and developing our business together.” Lee Timbrell, managing director of BAS Components commented: “The acquisition by PSM


International is seen as a hugely positive step in the strategic direction of BAS Components. BAS has been actively developing its international and global customer base for some time and the strength and global footprint that PSM provides is the perfect complement in achieving this goal. TT electronics plc, the previous parent to BAS invested signifi cantly in the business during its tenure which has led to the success we see today, however the opportunity of becoming a core part of a large fastener focused organisation and developing further value and service for our customers is truly exciting for all involved.”


16 Fastener + Fixing Magazine • Issue 67 January 2011


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