11/27/2015
NEWS BRIEFS

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Bossard Group will invest EUR 14 million (US$14.9 million) to build a modern warehouse at its German location in Illerrieden, Fastener + Fixing Magazine reports.

Bossard Group and subsidiary KVT-Fastening will use the new 6,100m2 warehouse has a logistics hub for all product deliveries within Germany, and the Central and Eastern Europe region. The investment will increase capacity at the site four-fold.

“Illerieden was specially selected for its central location in Europe. From here, we can reach all export countries in the EU relevant for our group. This is beneficial for domestic as well as international Bossard and KVT-Fastening customers. Shorter routes, translates to shorter lead-time in product deliveries,” explains Frank Hilgers, member of the executive committee of Bossard Group.

Bossard reported sales in the third quarter of 2015 rose 6.9% to CHF 162 million, mainly from acquisitions. Excluding acquisitions, sales fell 4.5% during the period.

Q3 sales in Europe declined 1.9% to CHF 95.7 million, while sales in the U.S. surged 44.1% to CHF 39.2 million and sales in Asia gained 1.5% to CHF 27.1 million.

Overall sales during the first nine months of 2015 improved 5.9% to CHF 498.4 million.

Nine-month sales in Europe declined 3.1% to CHF 294.7 million, while sales in the U.S. increased 36.4% to CHF 126.4 million due to increased demand from Tesla and the acquisition of Aero-Space Southwest, and sales in Asia gained 4.7% to CHF 77.3 million.