NORTH AMERICAN NEWS Fasteners produce organic growth at Stanley Black & Decker
Stanley Black & Decker reported industrial segment sales, including results from Emhart Technologies and Infastech, rose 3% to US$889.2 million (706.8 million euros) in Q2 2014 as a result of volume (+2%) and acquisitions (+1%). Segment profit increased 28% to US$150.3 million.
up 2% primarily as a result of new product introductions and strength within Mac Tools and Advanced Industrial Solutions, partially offset by weak emerging markets. The overall industrial segment profit rate excluding charges was 17%, up from the
E S Fastener issues drive
more GM recalls General Motors announced six new recalls affecting 717,949 vehicles across its brands, MotorTrend reports.
ome of the recalls involve issues with fasteners. Included in the recalls were several models with “incorrectly installed” power seat height adjusters. “The bolt which secures the adjuster may fall out,
causing the seat to move up and down freely,” according to MotorTrend. GM said it’s aware of one crash and three injuries related to the faulty height adjuster bolt, but no fatalities. A second recall involves 1,919 2014-15 Chevrolet Sparks with an “improperly fastened lower control arm bolt,” MotorTrend reports. No crashes, injuries, or fatalities have been reported due to this issue. A third recall involves the roof carrier systems on 2015
Chevrolet Tahoe/Suburban and GMC Yukon/Yukon Denali. The roof carriers reportedly were attached with “incorrect retaining nuts, resulting in holes or rips in the roof rail airbags if they deploy,” according to MotorTrend. So far in 2014 GM has recalled more than 28 million vehicles globally, including 25.48 million in the US.
ngineered Fastening posted 2% organic growth driven by strong global automotive revenues partially offset by weaker electronic volume. Organic sales for the Industrial and Automotive Repair (IAR) business were
Q2 2103 rate of 14.4%, reflecting favorable volume leverage, productivity gains, and cost control – partially offset by currency. “Infastech remains on-plan to achieve both earnings and cost
synergy targets, which helped drive record operating margin in Engineered Fastening for the quarter,” the company stated. Overall Stanley Black & Decker sales edged up 1% to US$2.9 billion, while net earnings improved 15.7% to US$216.5 million.
Fasteners part of FAA’s proposed US$12 million fine against Southwest Airlines
The US Federal Aviation Administration is proposing a US$12 million civil penalty against Southwest Airlines for failing to comply with Federal Aviation Regulations in three separate enforcement cases related to Boeing 737 repairs, Aviation Pros reports.
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he FAA alleges that beginning in 2006, Southwest Airlines’ contractor, Everett, Washington based Aviation Technical Services, failed to follow proper procedures when conducting “extreme makeover” alterations to eliminate
potential cracking of the aluminum skin on 44 jetliners. “During its investigation, the FAA found that ATS workers applied sealant beneath the new skin panels but did not install fasteners in all of the rivet holes during the timeframe for the sealant to be effective,” Aviation Pros reports. “This could have resulted in gaps between the skin and the surface to which it was being mounted,” allowing moisture to penetrate the skin and lead to corrosion. Other alleged infractions involve failure to properly stabilize
the aircraft while the work was being performed, and failure to properly install a ground wire on water drain masts.
Specialty Bolt expanding global business
Specialty Bolt & Screw appointed Kelly Cole vice president of its newly formed SBS West, announced President Jay Queenin. Massachusetts based SBS will open an office and distribution center in southern California and increase international offerings.
ole will focus on technical engineering support, fastener design review and the design and engineering of specialized molded product as SBS increases domestic and international presence and product offerings. Cole, who recently left WCL Company, was the last president of the Los Angeles Fastener Association and became the first president of the Pacific West Fastener Association when it was formed in 2009.
Queenin noted Cole “joins our team with over twenty five years of fastener industry experience and elevates the company’s
technical ability to service our customers as SBS expands its domestic and international reach.” Cole’s expertise includes fastener design review and molded products. In addition to opening in California, SBS will open distribution centers in Kaohsiung, Taiwan, and Querétaro, Mexico, this summer. Formed in 1977, SBS is a privately held corporation providing global supply chain solutions. SBS conducted its first overseas sale in 1986 and opened a facility in Canada in 1996 and in Mexico in 2006. SBS is a founding member of the Global Supply Alliance – a group of five distributors leveraging Asian buying power and facilitating global sales.
Fastener + Fixing Magazine • Issue 89 September 2014
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