6/3/2016
NEWS BRIEFS
NORMA Group Reports Organic Growth
NORMA Group SE reported sales rose 2.3% to EUR 226.6 million in the opening quarter of 2016, according to Fastener + Fixing Magazine.
“Organic growth was 2.4% with negative currency exchange effects accounting for the differential,” Fastener + Fixing reported.
Adjusted EBITA increased 2.2% to EUR 40.1 million, while margins were flat.
“The EMEA region showed stronger organic growth as we had expected and the Asia-Pacific region continued to develop dynamically,” stated CEO Werner Deggim. “We are confident we will be able to continue to grow profitably in financial year 2016.”
EMEA region sales grew 6.1% to EUR 112.1 million, boosted by “the upswing in the euro zone and continued positive development of the European automotive industry,” according to Fastener + Fixing.
Sales in the U.S. dipped to EUR 96 million, due to the weakness in commercial vehicle and agricultural machinery sectors.
Asia-Pacific region sales gained 1.9% to EUR 18.6 million.
Germany-based NORMA Group manufactures a range of joining technology solutions in three product categories (clamp, connect and fluid) and offers more than 35,000 products to more than 10,000 customers in 100 countries.
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