Jason Sandefur

Fastener Products revenue at Precision Castparts climbed 24% to $383.9 million during the third quarter of fiscal 2008, while operating income jumped 49.5% to $98.2 million.
Aerospace fastener sales were even stronger, with results from Cherry Aerospace driving sales up 40%. PCC acquired Cherry Aerospace in January 2007 through a $300 million deal with Acument Global Technologies.
“Fastener Products is seizing additional opportunities on every front: increased volumes, share gains, and qualification of new part families,” PCC stated.
Fastener sales growth was mitigated by a general weakness in automotive and general industrial markets.
During the first nine months of fiscal 2008 fastener sales increased 25% to $1.14 billion, with operating income gaining 48% to $277.2 million.
Overall Q3 sales at PCC rose 22.7% to $1.7 billion, while operating income grew 51.7% to $373.5 million. Web: precast.com �2008 FastenerNews.com