Bossard Forms Bossard North America

Jason Sandefur

Bossard Group will combine its U.S. operations into a single “market- and customer-oriented unit.”
“In the course of this consolidation, the various locations in America will be merged to form Bossard North America, a company structured to specifically focus on the needs of industrial customers,” Bossard announced.
The reorganization is expected to cost CHF 15 million (US$12m).
The move comes as Bossard Group reported North American sales slipped 10.2% during May through August 2006 in what it called a “clearly altered economic environment.”
“After reaching the best sales figures in America in the past year, we were prepared for a downturn in demand in 2006.
“This decline, however, was much steeper than expected.”
Sales in Europe and Asia continued to be strong for Bossard, with Europe revenue growing 13.4% during the second four months of 2006, while Asian sales soared 50.3%.
“Growth rates almost reached 40% in Thailand and Malaysia. And in China sales doubled,” Bossard stated.
Consolidated four-month sales rose 8.4% to a record CHF 184 million (US$147.8m), while net income declined 14% to CHF 5.7 million (US$4.6m).
Sales during the first eight months of 2006 increased 9.5% to CHF 376.8 million (US$302.64m), with net profit dipping 2.7% to CHF 14.2 million (US$11.4). \ �2006 FastenerNews.com