5/16/2011 9:19:00 PM
HEADLINES
STANLEY BLACK & DECKER
Emhart Teknologies, the legacy Black & Decker Engineered Fastening business, delivered sales growth of approximately 15% in the fourth quarter of 2010, driven by market share gains and increased platform penetration as well as increased automotive production in North America and Germany.
Emhart’s unit volume increased 11%, while price had a negative 1% impact, acquisitions added 4% and currency was a positive 1%.
Organic sales for Hand Tools, Fasteners & Storage rose 4% due to the success of Bostitch hand tools as well as Stanley-branded storage units. Prices fell 1%.
Overall Industrial segment sales increased 144% to $575 million, while profit, excluding one-time charges, improved 350 bps versus prior year to 14.8%, attributable to the inclusion of the legacy Black & Decker Engineered Fastening business and CRC-Evans.
Full-year Industrial segment sales, including Emhart, more than doubled to $1.85 billion, with profit more than tripling to $269 million.
Overall 2010 sales soared 125% to $8.4 billion, boosted by a 29% gain in revenue from Latin America.
The $3.5 billion Stanley Black & Decker merger, completed in March 2010, gave Stanley a 50.5% stake in the new $8.4 billion industrial supplier.
Included in the deal was Shelton, CT-based Emhart Teknologies, a global manufacturer of fasteners and assembly systems whose technology-based assembly products and systems are sold in more than 100 countries. Emhart has 2,500 employees in 39 operating facilities worldwide.
In 2010 Emhart acquired aerospace fastener maker Fastener Innovation Technology Inc. of Gardena, CA.
“Combined with our Heli-Coil initiatives and the 2008 purchase of Spiralock Corporation, bringing FIT under the Emhart brand enables us to integrate the finest aerospace fastener platforms into a single-source organization,” said Emhart president Michael Tyll.
“This acquisition allows us to better serve the aerospace, military and commercial aircraft industries.”
FIT has long-term customer relationships with Boeing, Honeywell, Bell, GE, Pratt & Whitney, Embraer and Gulfstream Aerospace Corp.
Former Acument Aerospace executive Randy Aardema was named general manager of FIT.
Principal fastener facilities are located in Danbury, CT; Montpelier, IN; Campbellsville and Hopkinsville, KY; Chesterfield, MI; Birmingham, England; Giessen, Germany; and Toyohashi, Japan.
Corporate Office: 1000 Stanley Dr., New Britain, CT 06053.
Tel: 860 225-5111
Web: stanleyblackanddecker.com and emhart.com
CEO: John Lundgren
Fastener executive: Michael Tyll, president of Fastening & Assembly Systems
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