7/24/2013 9:50:00 AM
NEWS BRIEF
ITW reported its Automotive OEM segment, including fasteners, led the company in organic growth, increasing 12% to $614 million in the second quarter of 2013.
The segment’s European automotive organic revenues grew 11%, outpacing second quarter Europe auto builds that increased 1%. North American and China automotive organic revenues increased 7% and 40%, respectively, compared to auto builds of 6% and 11%.
Overall Automotive OEM segment operating income totaled $126 million.
Q2 Construction Products revenue, including fasteners, was flat at $453 million, with segment operating income of $62 million.
Six-month Automotive OEM revenue gained 8.1% to $1.2 billion, producing operating income of $243 million.
Six-month Construction Products revenue declined 1.6% to $871 million, with segment operating income totaling $111 million. ©2013 GlobalFastenerNews.com
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