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NEWS


Bossard: Best result in company history


Further detailing its 2010 results Bossard Group reported that consolidated net income tripled, rising from CHF 15.3 million to CHF 44.9 millon (approximately 34.6 million euros).


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EO David Dean commented: “This is the best result by far in our company’s history, and reflects our high performance level across all the regions where we operate and our focus on business areas with high value added.” Bossard had previously reported group sales increased by 25.2% in total currencies,


when converted to Swiss Francs totaling CHF 477.6 million (approximately 377 million euros). Sales in Europe and America both rose by more than 21%, with Asian sales increases by more than 46% to CHF 87.5 million. Bossard reported “very satisfactory development of gross profit” which totalled CHF188.4


million, with a margin improvement from 37% to 39.5% - attributed to the Group’s changed product mix, with a higher share of customised solutions and special parts. Bossard said its “optimised logistics and farsighted procurement policy also impacted favourably on gross profit”. Costs rose less strongly than sales: operating costs without depreciation and amortisation


rose year on year by 12.8% to CHF130.7 million. Financial expenses were halved year on year to CHF 1.1 million. “Thanks to stringent inventory and receivables management” net working capital rose less strongly than sales, impacting positively on free cash flow and reducing costs of borrowing. EBIT doubled to CHF 47.3 million, with all business units contributing to the result. Expressing optimism for 2011, Bossard acknowledged continuing volatile currencies and the


related price increases on the procurement markets as risks. CFO Stephan Zehnder concluded: “Overall, however, we look to the future with confidence, because the forecasts made by our customers and the market indicators relevant for our operations point to continuing growth of the world economy. We want to exploit this positive market environment and have set ourselves a double-digit sales growth target in local currencies.”


NORMA Group plans IPO


NORMA Group is preparing for its initial public offering on the Prime Standard of the regulated market of Frankfurt Stock Exchange during the first half of 2011.


envisaged free float of approximately 50 to 60 percent includes new shares from a planned capital increase. Expected gross proceeds from the sale of the new shares will be around 150 million euros. NORMA Group intends to use the proceeds to partially repay its financial liabilities and strengthen its financial flexibility to support further organic and acquisitive growth. NORMA Group manufactures and sells


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a wide range of high-quality engineered joining technology solutions in three product categories: clamp, connect and fluid. Headquartered in Maintal, Germany, it has a global network, including seventeen manufacturing and distribution facilities as well as ten sales and distribution sites across Europe, the Americas and Asia Pacific. The company offers more than 35,000 products and solutions to approximately 10,000 customers in a wide range of industries, including agricultural machinery, commercial vehicles, construction equipment, engines, aviation, infrastructure/construction/water


10 Fastener + Fixing Magazine • Issue 68 March 2011


ommerzbank, Deutsche Bank and Goldman Sachs International have been appointed as Joint Global Coordinators and Bookrunners. The


management, passenger vehicles, railway, white goods, wholesalers and technical distributors. “The engineered joining technology market


is facing exciting changes,” says Werner Deggim, CEO of NORMA Group. “Various trends are continuing to impact our customer end markets, and thus their demand for joining technology products. Being a technology and innovation leader in engineered joining technologies, we are excellently positioned to benefit from these developments.” NORMA Group has been built on organic


growth and strategic acquisitions. The company was established in 2006 through the merger of Rasmussen and ABA, two European leaders in engineered joining technologies. In 2007, NORMA Group acquired Breeze Industrial Products Corporation in the United States significantly enhancing its geographical reach as well as its product and brand portfolio. In 2010, NORMA Group made two further acquisitions in the United States – R.G. RAY and Craig Assembly. NORMA Group generated around 490 million euros in revenue in 2010.


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