8/8/2011 1:11:00 PM
HEADLINES
Wesco Aircraft Shares Selling Lower After IPO
Aerospace fastener distributor Wesco Aircraft has sold a total of 21 million shares since issuing its initial public offering on July 28, but the stock has dipped below the initial offering of $15 per share on the New York Stock Exchange.
Wesco supplies hardware, electronic components, bearings and machined-parts and products to the aerospace industry.
Founded in 1953, Wesco Aircraft has more than 1,000 employees across 28 locations in 10 countries. The company serves 7,200 customers worldwide, with sales of hardware represented 80% of WAIR’s net sales in fiscal 2010.
Highly engineered fasteners constituted 83% of overall hardware sales for the Valencia, CA-based company. ©2011 GlobalFastenerNews.com
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