Aerospace Fastener Sales Help Offset Auto Slump

John Wolz

Strong aerospace fastener sales helped publicly held fastener companies report solid gains during 2006, while auto fastener suppliers continued to struggle in a slumping automotive market.\
Precision Castparts said aerospace fastener revenue achieved 30% organic growth in the third quarter of fiscal 2007. Aerospace fasteners continue to deliver “improved performance, drive operating margins, and score additional share gains,” the company noted.
Alcoa predicted “another strong year” for aerospace fastener demand in 2007.
Other companies turned to acquisitions for a boost as auto production continues to weaken in the U.S..
ITW”s North American Engineered Products reported sales growth in the fourth quarter of 2006, largely from revenue contributions from acquisitions.
B/E Aerospace saw an 83% sales jump in distribution during Q4 with the help of revenue from newly acquired New York Fasteners Corp.
Anixter got a boost from recently acquired MFU Holding SpA and Infast, which Anixter bought in 2005.
Growth in Asian markets remained robust for some companies that are seeing softer U.S. demand for their fasteners.
Black & Decker noted “outstanding growth in Asia,” while auto suppliers in the U.S. deal with “significant production cuts.” �2007 FastenerNews.com