4/25/2012 3:02:00 PM
HEADLINES
Stanley Black & Decker Fastener Sales Up 9 Straight Quarters
Stanley Black & Decker’s Engineered Fastening division achieved its ninth consecutive quarter of double-digit sales growth as organic revenues increased 10% during the opening quarter of 2012, outpacing global light vehicle production, which grew 4%.
“Increased vehicle platform penetration and customer wins drove growth as automotive manufacturers continued to shift to lighter-weight materials such as aluminum stud welding and self-piercing riveting,” the company stated.
The company’s Engineered Fastening business is part of its Industrial segment, which posted a 7% rise in revenue to $662 million during Q1, while segment profit improved 18% to $124.1 million.
Overall sales at Stanley Black & Decker increased 12% to $2.7 billion, with profit growing 11% to $307 million. ©2012 GlobalFastenerNews.com
Related Links:
Share: