John Wolz

Precision Castparts Corp. reported sales fell 18.4% to $652.4 million for its recently completed fiscal quarter over the same period last year. Net income more than doubled to $26.4 million.
Sales for the Industrial Products segment  which includes the fastener machinery tooling group, PCC Specialty Products”continue to struggle with tough economic conditions in automotive, pulp and paper, consumer and other markets. However, operating margin improvements are occurring as a result of the Specialty Products venture in India resulting in lower cost products. PCC Specialty Products Reed-Rico and Astro Punch entered a joint venture with Kadimi Tool Mfg. Web: precast.com 2002 FastenerNews.com