NORTH AMERICAN NEWS Park-Ohio revenue and income rise
Park-Ohio Holdings Corp reported sales increased 20% to US$243.5 million (179 million euros) in the third quarter of 2011, while net income, before the restructuring and asset impairment charge in 2011, improved 32% to US$8.2 million (6 million euros).
S
rotor assemblies, are currently in high demand.” Erie, PA-based ADI manufactures vibratory feeder and part system components. Both large and small suppliers have felt the uptick in demand. Livonia, MI-based TRW Automotive Holdings Corp recently unveiled a number of global business investments, including the expansion of its fasteners plant in Ningbo, China. The Ningbo expansion is part of TRW’s effort to open or expand 11 plants in 2011 and 2012 in France, the UK, China, Poland, Germany and Mexico.
T
A decade later: Fastener people caught in 9/11
In 2001, Fastener Industry News reported on three people involved in the fastener industry who were close to the World Trade Center. Here is an update:
O n 11th September 2001, the fastener import specialist for
the U.S. Customs Service was in her office in Six World Trade Center. She heard a low flying plane overhead and knew there was trouble. The plane crashed into
One World Trade Center, and the explosion sent debris blowing past Kathy Campanelli’s fourth floor window. Campanelli and colleagues evacuated and waited by the river for a signal to go back into the eight-story building neighboring the Twin Towers. Then the second plane struck. Today Campanelli is still handling fasteners, but no longer as part of U.S. Customs. In 2003, the U.S. Customs & Border Protection was established within the Department of Homeland Security and she is now in its Office of International Trade. When the first plane struck the north tower of the World Trade Center at 8:48am, Tuesday 11th
September, most of the 30 people
working at fastener distributor NABS headquarters were at work five blocks to the north. “Most people were in the office. Some were on the way in and saw the crash,” executive vice president Sam Laufer told FIN days later. “We decided to stay put, because at that point it was difficult to get home.” Police and rescue crews came in during the day for water and the bathroom. About 2:30pm Laufer decided to close the office and allow employees to make their way home.
NABS, founded by Jack Laufer in 1953 as North American Bolt & Screw Co., was acquired by the ILS business segment of Park-Ohio Holdings Corp in 2006. Today NABS has five domestic and 14 international locations, with sales of US$45 million in supplying the computer, electronics and consumer products industries. Sam Laufer has moved from New York City to rural Connecticut and started an audio distributorship, Laufer Teknik. When the first plane struck, Richard Hagan of Pinnacle Capital Corp was inbound from New Jersey on a commuter train. His office was just two blocks from the Twin Towers. Hagan never made it into Manhattan that day because the train under the Hudson River was shut down. “I watched the carnage from across the river,” Hagan told FIN. It was eight business days before Hagan could reach his office to retrieve his computer and critical files. Hagan continues his role as an independent consultant
putting together fastener company acquisitions. Since 1997 Hagan has compiled an annual list of the Top 10 Fastener Company Transactions, which is published each spring on
GlobalFastenerNews.com The full stories from 2001 are posted in the Fastener History section of
GlobalFastenerNews.com
28 Fastener + Fixing Magazine • Issue 72 November 2011
upply Technologies segment revenue gained 20% to US$124.8 million (92 million euros) during Q3, with operating income growing 33% to US$8.54 million. Manufactured Products segment revenue during the quarter improved 39% to US$88.45 million (65.2 million euros), while operating income rose 43% to US$11.84 million. Overall nine-month sales increased 23% to US$593 million (437 million euros), while net income slid 10% to US$10.5 million.
Supply Technology sales during the first nine months of 2011 increased 26.5% to US$373.6 million (275 million euros), with segment operating income jumping 58% to US$25.6 million. Nine-month manufacturing products sales climbed 36% to US$255.6 million (188.4 million euros), while operating income soared 52% to US$31.7 million.
North American vehicle production increased 10% in August to 1,228,736 units - the 22nd
Automotive fastener demand surges despite downturn consecutive month with a year-over-year increase.
hose figures translate into ongoing demand for fasteners and other OEM parts and components, as well as machinery related to their production. “We have seen an increase in requests for quotes for vibratory feeding systems for the automotive industry,” stated Automation Devices Inc. president Kevin Smith. “Automotive clips and fasteners, keys and
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