Park-Ohio reported revenue for its Supply Technologies segment, including fasteners, increased 13.3% to $636.8 million in 2018, with 7% attributable to organic growth and 6% from acquisitions. Segment income before taxes rose 13.2% to $49 million for the year.

“Our fastener manufacturing business continues to perform well, increasing sales of its self-piercing and clinch products to new customers around the world,” stated CFO Patrick Fogarty in a conference call.

Organic sales growth was driven by higher customer demand in most key end markets, including the heavy-duty truck and truck-related markets, which were up 33%, and the aerospace market, which was up 37%.

In the fourth quarter of 2018, Supply Technologies segment revenue gained 5.9% to $154.6 million, with income up 11.4% to $11.7 million.

Consolidated Park-Ohio sales during 2018 grew 17% to a record $1.7 billion, driven by organic growth of 8% and acquisition-related growth of 9%. Net income nearly doubled to $53.6 million, while EBITDA increased 15% to $150.2 million. Web: PKOH.com