NEWS
Bossard: Noticeable slowdown of the economy
Reporting Quarter 3 Group results reflecting 3.9% sales growth in local currencies, Bossard Group warns of clear indications of a general slowdown of growth as well as declining PMIs worldwide.
P F
ositive growth rates in local currencies were reported for America (+10.7%) and Europe (+4.9%) but sales in Asia were down 7.2% year on year. Declining global demand has had an impact on export-oriented customers in this region, particularly those in the electronics sector.
Group sales for the third quarter of 2011 totaled CHF109.3 million (88.3 million euros), an
increase of 3.9% in local currencies. However, with the strong appreciation of the Swiss franc against most other currencies, sales in the third quarter expressed in the Group’s accounting currency were down 8.5% year on year. In the first nine months of 2011 Bossard Group reached sales of CHF361.7 million (292.2 million euros), an increase of 11% year on year in local currency. Sales expressed in Swiss Francs were, however, down 0.5%. Bossard projects full year sales in the region of CHF460 million (371.6 million euros) and net income of some CHF40 million (32.3 million euros).
Fontana invests in US specials producer
Grupo Fontana has committed US$65 million investment in its Lake Erie Special Fasteners subsidiary over a three year period.
ontana bought Lake Erie in 2007. The LEP Special Fasteners operation is located in Frankfort, Indiana. The investment will include 30 new boltmakers, 3 new furnaces, and new inspection equipment leading to a doubling of current capacity and workforce.
LISI Quarter 3 sales up 25%
French fastener group LISI recorded 16.7% organic growth in the third quarter and 25.4% increase overall - amounting to 233 million euros.
Airbus production expectations. While recovery has been confirmed for the division, says LISI, it will not be complete until its Torrance (USA) plant achieves a load level in line with installed capacity. In Europe the new LISI Creuzet division is reported to be benefiting from high levels of aerospace activity. LISI automotive says vehicle demand remains “well oriented” especially in Germany, despite a slight slowdown expected in Quarter 4. LISI Automotive generated 344 million euros nine month sales, up 15.6% on same period 2010. Operating margins were impacted by the cost of resolving production problems in the spring, which LISI notes did not impact customer service. Raw material costs have stabilised and even fallen slightly, says LISI, and negotiations to pass on costs have been completed.
N 12 Fastener + Fixing Magazine • Issue 72 November 2011
ine months sales totalled 680 million euros compared with 567 million euros for the previous year same period. 280 million euros sales were generated by LISI Aerospace reflecting on target deliveries by both Boeing and Airbus. European forward orders reflect increased
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