NORTH AMERICAN NEWS Precision Castparts fastener orders strengthen
Precision Castparts reported sales at its Airframe Products segment - primarily fasteners - grew 35.8% to US$556.9 million (438 million euros) in the second quarter of fiscal 2013, driven by a 51% increase in aerospace sales that represented a “steady recovery in core fasteners.”
P
CC stated: “The segment’s organic aerospace sales increased by 15%, driven by steadily increasing commercial backlogs and further closing of the gap between 787 fastener orders and the current Boeing
production rate.” Segment operating income gained 43.5% to US$166.6 million during the period. “Airframe Products is delivering positive results on a number
of fronts, the recovery of core fastener volumes, the successful integration and accelerating improvement of Primus and Centra,
and still-to-be-realized performance from recently deployed capital for additional aerostructures acquisitions,” stated CEO Mark Donegan. Overall PCC sales rose 8.4% to US$1.93 billion, while operating
income increased 13.5% to US$498.4 million and net income from continuing operations improved 12.5% to US$333.3 million. Six month Airframe Products segment sales rose 38% to
US$1.05 billion, with operating income up 40% to US$312.8 million. Web:
precast.com
Lindstrom acquires Bossard’s US Metrics business Lindstrom Metric LLC acquired Bossard Metrics Inc, Lindstrom president and founder Virgil Lindstrom announced.
B
ased in Elk Grove Village, Illinois, Bossard Metrics is the U.S. master distribution business of the Swiss- based Bossard Group. Bossard Metrics sells to U.S. distributors, with no direct sales to manufacturers.
Bossard Metrics will be integrated with Lindstrom, enabling
the combined operation to provide 2,000 distributor customers with more than 75,000 standard and specialty metric fasteners. Lindstrom will become the exclusive master distributor for Bossard’s products in the U.S. “I am extremely excited about pulling Bossard Metrics into the
fold as its ‘BN’ nomenclature is widely recognized throughout the industry,” Virgil Lindstrom said. “This transaction adds to our ability to execute and continue to be the key partner to our valued distributor customers.” Bossard provides Lindstrom with inventory breadth, product
availability, ancillary services and order flexibility on standard as well as tens of thousands of low-volume metric fasteners. “This purchase marks another milestone in the 40 year history
of continuous expansion and development of Lindstrom Metric, and we’re committed to supporting Lindstrom as it grows both internally and through other strategic acquisitions,” Fox told FIN. “The combination further strengthens Lindstrom’s position as the metric ‘specialist, offering customers a broad assortment of metric standard and specialty fasteners along with specialty plating, packaging, and other valued added services.” Terms of the transaction were not disclosed. Founded in 1972, Lindstrom Metric has warehouses in South
Carolina, New York and Illinois and is headquartered in Blaine, MN. It is a Harbour Group company.
Dorman Products reports record results
Dorman Products announced record revenues from continuing operations for the third quarter of 2012, with sales rising 20% to US$156.4 million (123 million euros).
Q
3 net income climbed 32% to a record US$19.8 million, and gross profit margin was 38.2% compared to 37.2% for the same period last year. “The increase in margin percent is primarily the result of
a favorable change in sales mix, lower transportation costs and lower provisions for excess and obsolete inventory,” the company stated. Nine-month revenue, including fasteners, increased 15% over the prior year to US$435.4 million. Net income from continuing
operations in 2012 increased 25% to US$51.2 million. “Our growing pipeline of new and recently introduced products
continues to fuel our revenue growth. We have introduced nearly 2,500 new parts in 2012, of which over 630 of these were formerly dealer-only parts. We appreciate the continued acceptance of these new products by our customers and end users, and look forward to creating even more new revenue opportunities in the future,” said CEO Steven Berman.
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