Ivaco

John Wolz

Ivaco
2001 Revenue$892.02 billion
2000 Revenue $963.5 billion
2001 Closing Price3.25
2000 Closing Price3.20

Inc. reported sales fell 7.4% from the previous year to $892 million for 2001 along with a $4 million loss from operations.
�This loss is small when compared to the very substantial losses incurred by the great majority of steelmakers in North America in 2001,� CEO Paul Ivanier said in predicting a better year for 2002.
Ivanier noted that the fastener group was operating at about 80% of capacity at the beginning of 2002 and is expected to increase production during the second quarter.
Ivaco�s 2001 fabricated steel products segment sales totaled $496.5 million, compared with $568 million for the previous year. Operating earnings for fabricated steel dropped from $77 million for 2000 to $44.1 million last year.
Its fabricated steel segment has the capacity of 400,000 tons of wire and wire products and 200,000 tons of fasteners.
and two other Canadian wire rod producers have been exempted from the U.S. Section 201 protection action. The U.S. imposed dumping margins on wire rod, but is �optimistic� that those will be ended for Canada. �Ivaco�s wire rod products are concentrated in the higher-quality end of the U.S. market, and our shipments are not injuring U.S. mills.�
Ifastgroupe took �aggressive steps to reduce inventories in the face of lower demand and excess industry capacity. Most of its customers experienced serious business declines, and this resulted in lower revenues and earnings.
Fastener operations are IFC Inc. and IFC USA Corp., Ifastgroupe & Company LP, Infasco division, Infasco Nut division, Ingersoll Fasteners division, Vermont Fasteners Manufacturing division and Vermont Fastener Sales Corp.
Best known as a leading North American producer of steel, Montreal-based is a major wire rod and fastener manufacturer. has production capacity of 350,000 tons per annum of wire products and 200,000 tons of fasteners.
Ifastgroupe introduced value-added products and expanded production capabilities for locknuts, weld nuts, nylon patching and teflon coating for nuts at Infasco Nut and large-diameter truck wheel bolts.
A total of 79% of Ivaco�s property, plant and equipment is in Canada, and 21% is in the U.S.
reported 71% of 2001 sales were to the U.S., 26% to Canada and 3% overseas. Fabricated steel products, including fasteners, wire and wire products, totaled $496.3 million for 2001, down from 2000�s $567.3 million.

Headquarters: 770 Rue Sherbrooke ouest, Montreal, Quebec, Canada H3A 1G1. Tel: 514 288-4545 Fax 514 284-9429
Web: ivaco.com
Toronto & Montreal Symbol: IVA.A
CEO: Paul Ivanier
Key fastener executives: Mortie Chaikelson, vice president, Infasco; and Glenn Snowberger, general manager, Ingersoll Fasteners.
Employees: 5,500
Percentage of revenue from fastener-related products: 45% \ �2002 FastenerNews.com