8/16/2013 1:26:00 AM
NEWS BRIEF
The Bossard Group opened a new headquarters and distribution center in Cheonan City near Seoul, South Korea, completing the facility in just eight months. Spanning an area of over 11,000 m2, the new construction offers space for over 100 work stations, while the distribution center has capacity for over 1,200 tons.
“Our successful business development in South Korea has necessitated an increase in capacity,” stated CEO David Dean. “In doing so, we have also created the ideal prerequisites for being able to serve our customers better and quicker.”
Bossard achieved a turnover of CHF 311.5 million in the first six months of 2013, up 23.9% in Swiss francs. This amounts to a growth in turnover of 22.7% based on local currencies.
In Europe turnover rose by 43.8% to CHF 195.5 million compared to the same period for the previous year.
“This jump in turnover is primarily due to the acquisition of the KVT-Fastening business in the final quarter of the 2012 business year.”
In America the turnover was CHF 73.1 million which, when adjusted for the divestment of Bossard Metrics Inc., corresponds to a 3.1% increase.
In the Asian markets Bossard improved turnover by 7.7% to CHF 42.9 million, boosted by a slight recovery in the market and demand from new customers.
The consolidated net income increased compared to last year by CHF 6.5 million to CHF 28.6 million (2012: CHF 22.1 million). This growth took place despite higher financing costs and increased tax expenditure. ©2013 GlobalFastenerNews.com
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