Nedschroef Sales Grow

Jason Sandefur

Dutch fastener maker Nedschroef posted a 29% jump in profit to Euro 4.9 million (US$6 million) for the first half of 2005. The company said raw material prices for fasteners rose “significantly” at the beginning of the year. First half sales rose 8.4% to Euro 187.6 million, despite a 2% decline in Europe’s auto industry output.
The company’s Machinery and Tools division, which accounts for about 6% of overall sales, experienced recovery with an 11% increase in sales to Euro 10.35 million. Segment operating profit improved to Euro 1.5 million.
Nedschroef had a net loss of 56 jobs during the first six months of 2005. Web: nedschroef.nl �2005 FastenerNews.com