10/15/2013 1:53:00 PM
NEWS BRIEFS
KVT Boosts Bossard Group Results
The Bossard Group reported European sales jumped 55.8% to CHF 98.1 million in the third quarter of 2013.
“This striking growth is primarily due to the acquisition of KVT-Fastening,” the company stated. “The acquisition of KVT-Fastening has built out Bossard’s market positions in Germany, Switzerland and Austria.”
Excluding KVT, Bossard Q3 sales increased 7.3% in Europe after growing 1.7% in the second quarter.
Bossard sales in Asia rose 9.2% to CHF 23.3 million following a 12.7% gain the previous quarter, boosted by increase demand and new customer acquisition.
Sales in the U.S. fell 5.9% to CHF 31.1 million during Q3.
Overall Bossard sales improved 25.3% to CHF 464.0 million during the first nine months of 2013. Nine-month sales in Asian markets rose 8.2% to CHF 66.1 million, while sales in the U.S. increased 0.2%.
“We foresee continued positive sales growth in Europe and Asia to the end of this year,” Bossard stated. “Due to lower sales with a major customer, business in the U.S. is likely to grow slightly less in the fourth quarter than in 2012.” ©2013 GlobalFastenerNews.com
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