10/30/2009
NEWS BRIEFS
Simpson Strong-Tie Sales Drop
Simpson Strong-Tie sales, including fasteners and anchor systems, fell 22% during the third quarter of 2009, as ongoing weakness in homebuilding markets hampered growth.
During the first nine months of 2009 Simpson Strong-Tie revenue during the first half of 2009 decreased 25.5%.
Overall Q3 sales at parent company Simpson Manufacturing Co. fell 23.9% to $167.2 million, while net income was nearly halved to $12.8 million.
Nine-month sales dipped 25% to $452.4 million, with net income dropping 71% to $15 million
In April 2009 Simpson held the grand opening of its 175,000 sq ft facility in Zhangjiagang, China, and commenced limited production of its Anchor System products there. ©2009 GlobalFastenerNews.com
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