First Half of 2011: North American Fastener Sales and Profit See Sustained Growth

Demand for aerospace and automotive fasteners continued to make strong gains in the second quarter of 2011, reaching double-digit growth by the end of July. Sales in Europe were especially robust, while sales in Asia remained strong. U.S. sales experienced growth as well, though generally at a slower pace. Sales of industrial and construction fasteners also achieved higher volumes and margins as both market sectors saw consumer demand for their end-products rise.

Among North American publicly traded companies with fastener operations tracked by GlobalFastenerNews.com:
• Trimas Corp. reported sales for its Aerospace and Defense segment, including Monogram Fasteners, increased 23.9% to US$21.33 million, "due primarily to improved demand for blind bolts and temporary fasteners from aerospace distribution customers."
• Carpenter Technology reported aerospace market sales, including fastener material, grew as "demand for titanium fastener material is approaching prior peak levels with continued strong demand expected in the coming year," the company stated.
• Precision Castparts reported that its fastener segment is "contractually well positioned for growth and has lowered its cost structure significantly during the downturn, which will enable the segment to drop through solid incremental margins as the sales picture begins to improve."