This page contains a Flash digital edition of a book.
NORTH AMERICAN NEWS


by JohnWolz, editor GlobalFastenerNews.com


First Half 2011: North American fastener sales and profit see sustained growth


Demand for aerospace and automotive fasteners continued to make strong gains in the second quarter of 2011, reaching double-digit growth by the end of July.


W C T


hile sales in Europe were especially robust and sales in Asia remained strong, U.S. sales also experienced growth, though generally at a slower pace. Sales of industrial and construction fasteners also achieved


higher volumes and margins as both market sectors saw consumer demand for their end-products rise. Among North American publicly traded companies with fastener operations tracked by GlobalFastenerNews.com:


• Trimas Corp. reported sales for its aerospace and defense segment, including Monogram Fasteners, increased 23.9% to US$21.33 million, “due primarily to improved demand for blind bolts and temporary fasteners from aerospace distribution customers.”


• Carpenter Technology reported aerospace market sales, including fastener material, grew as “demand for titanium fastener material is approaching prior peak levels with continued strong demand expected in the coming year,” the company stated.


• Precision Castparts reported that its fastener segment is “contractually well positioned for growth and has lowered its cost structure significantly during the downturn, which will enable the segment to drop through solid incremental margins as the sales picture begins to improve.”


For full company results, including more than three years of


sales and profit figures, subscribers can click on the Fastener Stock Review section of GlobalFastenerNews.com


Cardinal Fastener files bankruptcy, suspends operations


Cardinal Fastener & Specialty Co. of Cleveland, Ohio, has suspended manufacturing and filed for bankruptcy.


EO John Grabner said Cardinal’s revenue is growing and the company remains profitable on an operating level. In an emailed statement to the Cleveland Plain Dealer, Grabner described the bankruptcy filing as “largely as a result of an impasse in negotiations with Wells Fargo, our primary lender, regarding working capital financing.” “We have been working with our lenders to secure more flexible working capital arrangements for some time


and would certainly have preferred to keep this out of the courts, but this action ultimately provided an appropriate forum to restructure and provide for our future growth,” the Plain Dealer quoted Grabner. Days before the filing, Grabner had said imports were hurting American manufacturers involved in wind energy. When Cardinal Fastener emerges from Chapter 11, the company will likely have a big new investor - if not a new owner,


Crain’s Cleveland Business reports. Cardinal nearly doubled its revenues in four years with wind energy fasteners. It was supplying more than a dozen wind


turbine builders, including the Danish wind manufacturer Vestas and the Spanish Gamesa SA. Customers also included more than 100 global suppliers involved in fabrication, transportation, construction and maintenance of 8,000 parts needed in wind turbines, Maria Gallucci of SolveClimateNews reported. Grabner has been a leading advocate for lean manufacturing and spoken at several fastener industry events about Cardinal


Fastener’s lean efforts. Cardinal Fastener adopted the Toyota Production System lean program in 1998. Cardinal Fastener gained international attention when Barack Obama toured Cardinal’s plant on 16th


January 2009, enroute to his inauguration. Obama touted Cardinal Fastener’s domestic manufacturing of wind energy industry fasteners. Toggler Anchor acquiresWej-It product lines


Toggler Anchor System has acquired the product line of Wej-It Fastening Systems. Toggler is a division of Norwalk, CT-based Mechanical Plastics Corp.


he acquisition combines two well-known brands – the Toggler light-to-medium duty anchors and the Wej-It heavy-duty concrete anchoring technology. Wej-It recently introduced a power screw bolt and CCAT cracked concrete anchors. Wej-It stock in Oklahoma will be moved to MPC’s corporate headquarters in Connecticut. Founded in 1968, family-owned and operated Toggler manufactures all of its anchors in the USA. Customers include


Grainger, Fastenal, MSC Industrial Supply, Lowes and OEMs. 24 Fastener + Fixing Magazine • Issue 71 September 2011


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100  |  Page 101  |  Page 102  |  Page 103  |  Page 104  |  Page 105  |  Page 106  |  Page 107  |  Page 108  |  Page 109  |  Page 110  |  Page 111  |  Page 112  |  Page 113  |  Page 114  |  Page 115  |  Page 116  |  Page 117  |  Page 118  |  Page 119  |  Page 120  |  Page 121  |  Page 122  |  Page 123  |  Page 124  |  Page 125  |  Page 126  |  Page 127  |  Page 128  |  Page 129  |  Page 130  |  Page 131  |  Page 132  |  Page 133  |  Page 134  |  Page 135  |  Page 136  |  Page 137  |  Page 138  |  Page 139  |  Page 140  |  Page 141  |  Page 142  |  Page 143  |  Page 144  |  Page 145  |  Page 146  |  Page 147  |  Page 148  |  Page 149  |  Page 150  |  Page 151  |  Page 152  |  Page 153  |  Page 154  |  Page 155  |  Page 156  |  Page 157  |  Page 158  |  Page 159  |  Page 160  |  Page 161  |  Page 162  |  Page 163  |  Page 164  |  Page 165  |  Page 166  |  Page 167  |  Page 168  |  Page 169  |  Page 170  |  Page 171  |  Page 172