NORTH AMERICAN NEWS
Stanley Black & Decker fastener sales up 9 straight quarters
Stanley Black & Decker’s engineered fastening division achieved its ninth consecutive quarter of double- digit sales growth as organic revenues increased 10% during the opening quarter of 2012, outpacing global light vehicle production, which grew 4%.
self-piercing riveting.” The company’s engineered fastening business is part of its
T
industrial segment, which posted a 7% rise in revenue to US$662 million (508 million euros) during Q1, while segment profit improved 18% to US$124.1 million (95 million euros). Overall sales at Stanley Black & Decker increased 12% to US$2.7 billion (2 billion euros), with profit growing 11% to US$307 million (236 million euros).
he company stated: “Increased vehicle platform penetration and customer wins drove growth as automotive manufacturers continued to shift to lighter- weight materials such as aluminium stud welding and
“Lack” of fasteners blamed for casino collapse
Six contractors building a US$400 million casino in Cincinnati were fined more than US$108,000 by the U.S. Occupational Safety and Health Administration after a 60 foot section collapsed, injuring 13 workers.
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SHA concluded that the contractors failed to ensure the beam-to-column double connections on the Horseshoe Casino were adequately secured before pouring a concrete floor atop the steel-framed
structure. Investigators said there were not enough bolts in place at the double connections to support the structure while concrete was being poured for the building’s second floor, according to the Engineering News-Record. “The root cause was the lack of the proper amount of
fasteners,” OSHA spokesman Scott Allen stated. “OSHA issued a citation to the six companies because we feel that they were all directly involved in the erection and should have recognized the lack of proper safety standards.” The building is still on schedule to open next year.
Fastener segment sales up at Nucor Corp
Nucor Corp reported cold finished steel sales, including revenue from Nucor Fastener, increased 3% to 138,000 tons in the first quarter of 2012.
verall consolidated net sales increased 5% to US$5.07 billion (3.9 billion euros) during Q1, boosted by a 6% increase in average sales price per ton. Consolidated net sales increased 5% compared with US$4.83 billion (3.7 billion euros) in the fourth quarter of 2011 due to a 1% increase in average sales price per ton and a 4% increase in total tons shipped to outside customers. First quarter downstream steel products shipments to outside customers increased 3% over the first quarter of 2011. In early April Nucor Fastener won approval from the DeKalk County Council for an US$8.7 million tax phase-in for upgrades to
create twenty new jobs at its St. Joe, IN, facility. The 10-year phase-in will reduce property taxes on US$5.9 million in new machinery and US$2.7 million in building upgrades, KPCNews reported. The investments will increase the facility’s footprint by roughly 8%. Part of the strategy is to improve its service to existing customers, Nucor Fastener’s J.J. McCoy told
GlobalFastenerNews.com.
“The overriding reason for this is to take care of our customers, and make sure we’re shipping parts and products in a timely manner,” he said. But growth is also influencing the move. “We see opportunities in the market,” McCoy added.
Fastener material demand sees “significant improvement”
Carpenter Technology reported net sales for the third quarter of fiscal 2012 climbed 16% to US$539.9 million (414 million euros), while operating income soared 58% to US$55.7 million (43 million euros). Fiscal Q3 net income increased 15% to US$33 million (25 million euros).
erospace market sales gained 21% to US$240.5 million (185 million euros), driven by increased demand for materials used in fastener, engine and structural components. “Demand for titanium fastener material is now exceeding prior peak levels, and nickel and stainless fastener demand has shown significant growth over the prior year,” the company stated. Industrial market sales declined 3% to US$128.7 million, while energy market sales increased 28% to US$68.6 million.
Transportation market sales grew 6% to US$38.2 million. International sales climbed 30% to US$178.7 million, led by a 38% gain in sales to Europe and a 33% increase in Asia sales. Based in Wyomissing, PA, Carpenter Technology manufactures and distributes heading wire/rod and bar products in specialty alloys, including stainless steels, titanium alloys, superalloys, and various engineered products.
Fastener + Fixing Magazine • Issue 75 May 2012
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