8/7/2009
NEWS BRIEFS
Tree Island Reports Q2 Sales
Tree Island Wire Income Fund reported second-quarter sales, including fasteners, were down 50% to $47.4 million on a 41% decline in sales tonnage to 41,092 tons, producing a net loss of $20.9 million in Q2.
Sales during the first six months of 2009 fell 41% to $100.4 million, with sales tonnage declining 39% to 83,461 tons. First-half results included a net loss of $38.5 million.
“We continued to face major challenges from a weakened North American economy and depressed residential and commercial construction sectors in the second quarter and first half of 2009,” said interim CEO Ted Leja. ©2009 GlobalFastenerNews.com
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