8/9/2011 12:30:00 AM
NEWS BRIEFS
Brighton-Best Expands & Opens New Branches
Brighton-Best International is expanding its New Jersey warehouse and opening three new U.S. warehouses.
BBI reported 2011 sales through May rose 33% over 2010 to NT$2.4 billion (US$83.4 million), Fastener World magazine reported. The net income in the first five months this year was NT$ 111 million (US$38.2m), compared with NT$19 million (US$6.6m) for same time period last year.
Sales for 2010 totaled NT4.609 billion (US$), while net operating profit was NT$157 million (US$5.4m) and net income was NT$18 million (US$620,796).
Stockholders voted to reserve net income after taxes last year and retained earnings of 2009 – totaling NT 135 million – for overseas market expansion and the consolidation of distribution channels.
Fastener World attributed Brighton-Best’s sales increase to adding product types over the last two years.
• Brighton-Best is slated to open an expanded warehouse in Sayreville, NJ, in September and has plans for new warehouses in Seattle, St. Louis and Tampa.
Brighton-Best Socket Screw Mfg. was acquired by Ta Chen Stainless Pipe Co. Ltd. in 2007 and became Brighton-Best International Inc.
Brighton-Best now distributes fasteners through 31 warehouses in the U.S., Canada, UK, Brazil, Australia and New Zealand. BBI is headed by president Robert Shieh and is headquartered in Tainan, Taiwan. The U.S. operations are based in Long Beach, CA. ©2011 GlobalFastenerNews.com
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