10/22/2014 1:50:00 PM
NEWS BRIEFS
Fasteners Produce Price & Volume Gains for Stanley Black & Decker
Stanley Black & Decker reported its Engineered Fastening business achieved 5% organic growth in the third quarter, driven by strong global automotive revenues in excess of global light vehicle production.
Engineered Fastening is part of Stanley Black & Decker’s Industrial segment, which reported a 5% sales increase to $866.2 million in Q3, including 4% from volume and 1% from price. Organic sales for the Industrial and Automotive Repair (“IAR”) business were up 7% with strength in both North America and Europe. Overall Industrial segment profit rate excluding charges was 15.9%, up 170 basis points from the 3Q’13 rate of 14.2%, reflecting favorable volume leverage, productivity gains, and cost control, partially offset by currency.
Nine-month Industrial segment sales rose 7.7% to $2.61 billion, with segment profit up 29% to $416.8 million.
Related Stories:
• Fastener Industry Gathers in Las Vegas
• U.S. Fastener Exports & Imports Slow
• ITW Reports Automotive Fastener Gains
Related Links:
Share: