Textron Begins Global Pricing

John Wolz

Textron Fastening Systems announced it is phasing in a uniform global pricing policy over the next six months.
There will be structured prices and discounts to distributors who participate in its value-added partnership program.
Martin Schnurr, executive vice president of sales & marketing, said the pricing schedule �will be consistent for our distribution partners throughout the world, providing discounts and merchandising opportunities based on current volume, number of product lines carried and growth. This structure will reward our largest distribution partners, while providing incentives for growth at the lower tiers.�
Schnurr said distributors who collaborate in sales value-added programs will earn discounts based on size and growth generated in target markets. Smaller accounts will be given volume and growth targets to move through the growth structure.
The structure will apply globally.
�During the past 10years Textron Fastening Systems has held customer prices relatively steady, while absorbing substantial increases in the costs of labor, energy and raw materials,� Schnurr said. �Steel prices alone have increased significantly as the result of recent U.S. trade tariffs.�
Textron Fastening is seeking to improve efficiency with the program.
The uniform schedules �are clear and unambiguous,� Schnurr said.
Textron Fastening, a part of Textron Inc., provides engineered fasteners and assemblies and inventory management. Textron Fastening has 12,000 employees around the world and customers in 70 countries. Web: textronfastening-systems.com \ �2002 FastenerNews.com