The Bossard Group reported sales in 2017 rose 13.1% to CHF 786.2 million (US$819.2 million), with double-digit growth rates in Europe, North America, and Asia.

“Investments to develop new capacities and targeted acquisitions that consolidated our market positions in Europe and America were decisive factors in our surge in growth in 2017,” the company noted.

In Europe, Bossard sales increased 10.8% to CHF 444.9 million, with growth rates climbing steadily from one quarter to the next. Fourth-quarter sales grew 16.1% to CHF 110.3 million.

“This dynamic development was largely due to past years’ investments that consolidated our market position in various countries.”

Bossard said it made “great strides” in North America, with sales up 18.4% to CHF 220.3 million, “attributable to both organic growth as well as acquisitions.”

“In particular, business with the largest US electric vehicle manufacturer (Tesla) continued to thrive, with the company launching production of a new model in the third quarter.”

In May 2017, Bossard opening a 10,000 sq ft fastener design and testing facility in Milpitas, CA – 20 miles east of Tesla headquarters in Silicon Valley.

Business with a “major customer” in the agricultural technology sector also added to growth in 2017, along with contributions from Arnold Industries, which Bossard acquired in September 2016.

However, the rate of growth in North America declined in the second half of the year.

In Asia, Bossard “benefited from past development efforts that substantially expanded capacities in China, Thailand, South Korea, and Malaysia.” Sales in Asia gained 12.8% to CHF 121.0 million.

“In fact, Bossard posted double-digit sales growth in nearly all countries – particularly in China, our most important market in Asia.” Web: Bossard.com