7/20/2011 2:11:00 AM
NEWS BRIEFS
Emhart Teknologies Growth Outpaces Global Auto Production
Emhart Teknologies, the legacy Black & Decker Engineered Fastening business, delivered organic sales growth of 6% in the second quarter of 2011, outpacing global light vehicle production, which fell 2.5%.
Parent company Stanley Black & Decker said fastener revenue growth in North America and Europe was muted by a decline in sales in Asia related to the natural disasters that occurred in Japan in March.
Overall Industrial segment sales, including fasteners, grew 29% to $636 million, including 9% organic growth, a 2% price increase, and a 13% boost from acquisitions. Segment profit soared 70% to $97 million.
First half Industrial segment sales rose 57% to $1.24 billion, while profit more than doubled to $204.4 million. ©2011 GlobalFastenerNews.com
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