Federal Screw Works

John Wolz

Federal Screw Works
2001 Revenue $105.9 million
2000 Revenue $121.8 million
2001 Closing Price 35.01
2000 Closing Price 41.25

outperformed much of the industry with a sales increase for 2000, but the economy caught up with the company as 2001 sales fell 13.1%.
Federal Screw, founded in 1917 as a fastener manufacturer, now also produces special fasteners, cold formed and machined parts. Federal Screw has six plants in southern Michigan manufacturing products for use in fluid-power transmission, structural assembly, internal combustion and safety applications. Products include locknuts, bolts, piston pins, bushings and other machined, cold formed or ground metal parts.
Nearly 90% of sales are to the automotive industry, with Ford Motor Company being the largest customer with 35% of sales while General Motors accounts for 15%. Much of the Federal Screw production is for OEM specifications. Nonautomotive sales are primarily to durable goods manufacturers. Top competitors are Chicago Rivet, MNP and SPS Technologies.
The ZurSchmiede family has owned about 40% of the stock for decades.

Headquarters: 20229 Nine Mile Rd., St. Clair Shores, MI 48080-1775. Tel: 586 443-4222 Fax 586 443-4220
Web: federalscrew.com
NASDAQ Symbol: FSCR
CEO: W.T. ZurSchmiede Jr.
Key fastener executives: President Thomas ZurSchmiede and John O�Brien, vice president of sales & marketing.
Employees: 478
Percentage of revenue from fastener-related products: 90% \�2002 FastenerNews.com