2/16/2012 1:14:00 PM
NEWS BRIEFS
Fastener Gains Drive LISI Group Growth
LISI Group reported sales grew 19.1% to €925 million in 2011, driven by a “dynamic” performance from its European aerospace division and solid gains in automotive products. Organic growth approached 14% for the year, with EBIT soaring 55% to €76.6 million.
“LISI Aerospace Fasteners was the main contributor to the improvement in the results, after a substantial decline in 2010,” the company stated.
Results were also boosted by the acquisition of the Creuzet group, consisting of Creuzet Aéronautique and Indraero Siren, which generated €58.9 M, contributing to LISI Aerospace’s overall 44.7% sales growth to €407.6 million. Aerospace results were also helped by the new A350 products and “fastracks” on European activity.
LISI said the aerospace division has the potential for “significant” growth, mainly in the U.S. “The requirements of the large 2012 – 2022 contract obtained from BOEING, the start of the B787 and an increase in production rates should result in a larger contribution from the American platform,” the group stated.
Automotive division revenue improved 11.2% to €446.3 million.
LISI Group reported sales grew 19.1% to €925 million in 2011, driven by a “dynamic” performance from its European aerospace division and solid gains in automotive products.
Organic growth approached 14% for the year, with EBIT soaring 55% to €76.6 million.
“LISI Aerospace Fasteners was the main contributor to the improvement in the results, after a substantial decline in 2010,” the company stated.
Results were also boosted by the acquisition of the Creuzet group, consisting of Creuzet Aéronautique and Indraero Siren, which generated €58.9 M, contributing to LISI Aerospace’s overall 44.7% sales growth to €407.6 million. Aerospace results were also helped by the new A350 products and “fastracks” on European activity.
LISI said the aerospace division has the potential for “significant” growth, mainly in the U.S. “The requirements of the large 2012 – 2022 contract obtained from BOEING, the start of the B787 and an increase in production rates should result in a larger contribution from the American platform,” the group stated.
Automotive division revenue improved 11.2% to €446.3 million. ©2012 GlobalFastenerNews.com
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