3/28/2011 1:50:00 AM
HEADLINES
Böllhoff Reports 30% Sales Growth for 2010

ss=Wilhelm A., Dr. Wolfgang and Michael W. Böllhoff” title=””>

ss=”mceEditor”>Wilhelm A., Dr. Wolfgang and Michael W. Böllhoff

Böllhoff Group senior management reported 2010 sales were up 30% from the previous year.  Sales totaled €400 million (US$566.1m).

Managing director Dr. Gerson Meschut told the Zeitung Westfalen-Blatt newspaper that growth came not only from improved market conditions, but also as a result of not curtailing research and development even during the difficult year of 2009.  Böllhoff is currently brining a new technology into full operation with an automaker.

Böllhoff plans to invest €24 million (US$33.4m) in plant and equipment this year with slightly over half in Germany, primarily at the Bielefeld headquarters.

Böllhoff senior management told westfalen-blatt.de the main increase came from the automotive sector.  Outside of Germany the Asian region contributed most strongly. Eastern Europe was slower to recover, but management predicted moderate growth during 2011.

Demand from the wider mechanical engineering segment only came back in the second half of 2010.

Wilhelm Böllhoff GmbH & Co. KG totals 42 fastening and assembly technology companies at 33 locations in 21 countries. Böllhoff currently employs 2,000 people in 21 countries and has production facilities in Germany, Brazil, USA, China, France, Italy and India.

Half of all sales are now generated outside of Germany.

Böllhoff management said employees received a profit share from the 2010 results. Böllhof expects employment to increase to 2,200 worldwide during 2011.

Founded in 1877 by Wilhelm Böllhoff (1848-1924) as a wholesale hardware company, the Böllhoff Group remains family run with third generation Dr. Wolfgang Böllhoff as head of the advisory board and fourth generation Wilhelm Böllhoff and Michael Böllhoff as managing partners.
 

The company is headquartered at Archimedesstr. 1-4, 33649 Bielefeld, Germany. Tel: (49) 521 44 8201 Fax (49) 521 44 9364 Web: bollhoff.com  ©2011 GlobalFastenerNews.com and Fastener+Fixing