Stanley Black & Decker reported Engineered Fastening organic revenues for the first quarter of 2018 were “flat as automotive fastener penetration gains were offset by the anticipated impact from lower automotive system shipments and lower volumes within electronics.”

Overall Industrial segment revenues, including Engineered Fastening results, rose 5% to $504 million, with profit totaling $80.5 million and profit rate at 16%.

Consolidated company revenue rose 12% to $3.2 billion, fueled by 4% organic growth and 6% growth from acquisitions.

On April 2, Stanley Black & Decker completed its $440 million acquisition of Nelson Fastener Systems from Doncasters Group.

Elyria, OH-based Nelson Fastener Systems manufactures fasteners for the aerospace, automotive, construction, energy, industrial, marine and military markets. The company generates about $200 million in annual revenue. Web: StanleyBlackandDecker.com