PennEngineering

John Wolz

PennEngineering
2001 Revenue$188.2 million
2000 Revenue $264.6 million
2001 Closing Price16.75
2000 Closing Price35.25

2001 fastener sales decreased 30.4% from 2000, and sales in North America decreased 38.2%.
started 2002 reporting a slight increase in new orders. A sales increase combined with last year�s cost-cutting measures is expected to improve profitability in 2002. Among the cuts is closing of the Suffolk plant.
expanded its base in Europe with the acquisition of one of its customers, Precision Steel Components of Ireland, during 2001.
North America accounts for 65.4% of total fastener sales, Europe 28.4%, and the Asia/Pacific market 24.9%
Sales of fasteners and related products accounted for 81.9% of total product sales in 2001, down from 83.7% in 2000.
Fasteners and Pemserter presses are in the Pem Fastening Systems unit; rivet nut fasteners are in Atlas Engineering; distribution and logistics are in Arconix Group; and DC motors are in Pittman.
Founded in 1942 by K.A. Swanstrom, produces self-clinching fasteners, fastener installation equipment, miniature DC electric motors and other metal products. Brand names include PEM self-clinching fasteners, SI inserts for plastics and Pemserter automatic fastener installation equipment.
PennEngineering, formerly Penn Engineering & Manufacturing Corp., has locations in North Carolina, Virginia, Europe and Asia and independent distribution facilities in more than 40 countries.
The Swanstrom family owns more than half the class A common stock.

Headquarters: 5190 Old Easton Rd., P.O. Box 1000, Danboro, PA 18916-1000. Tel: 215 766-8853 or 800 237-4736 Fax 215 766-3633
Web: penn-eng.com
NYSE Symbol: PNN (nonvoting) and PNN.A (voting)
CEO: Kenneth Swanstrom
Investor Relations: CFO Mark Simon
Key fastener executives: Francis Wilson, president, Pem Fastening Systems; Paul Perry, Atlas; and Alan Kay, Arconix.
Employees: 1,344
Percentage of revenue from fastener-related products: 82% \�2002 FastenerNews.com