27th Annual FIN Survey: About 80% of Fastener Manufacturers & Distributors Report Sales & Profits Up for 2005; Price Increases Slow From 2004

27th Annual FIN Survey: About 80% of Fastener Manufacturers & Distributors Report Sales & Profits Up for 2005; Price Increases Slow From 2004

John Wolz

Following a frantic year for price hikes, 2005 slowed a bit for the fastener industry, with just over 71% of survey participants raising prices an average of 11.5% in 2005, down from the 92% who hiked prices an average of 18.2% in 2004.

During the first six months of 2006, 50% of End of 2005 FIN / FastenerNews.com Survey participants plan to hike prices an average of 5.9%.

Sales and profits were strong, FIN’s 27th annual fastener industry survey found, despite mediocre predictions at the end of 2004.

“A strong majority (81.9%) reported increased sales and nearly as many (78.7%) reported increased profits in 2005.”
However, widespread cost increases continued to dampen performance, Tony Casilio of AWP Research found. “Steel prices continue to plague manufacturers, with 64.3% reporting increases.”

But the rate of steel increases in 2005 was less than half of the reported steel hike the previous year.
The End of 2005 FIN Survey will be available to subscribers in the coming week. �2006 FastenerNews.com