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European & American Fastener Companies Sales Report for Q3

In general, sales of companies in Europe and America for fasteners kept increasing in the third quarter of 2010.

Alcoa Fastener Segment Sees ATOI Jump

Higher volumes in aerospace and increased construction market share drove revenue at Alcoa Engineered Products, including fasteners, up 4% to $1.17 billion during the third quarter of 2010. Segment ATOI jumped 52% to $114 million, an improvement of $7 million over the previous quarter.

Nine-month Engineered Products revenue dipped 6% to $3.37 billion, while ATOI improved 17% to $302 million.

Overall Alcoa revenue increased 15% to $5.3 billion, while adjusted EBITDA gained 33% to $602 million.

“We see markets strengthening and have increased our 2010 global aluminum consumption forecast to 13% from 12%,” stated CEO Klaus Kleinfeld. “In countries such as China, Brazil, India, and Russia, more and more people are moving into the middle class, driving demand in building and construction, transportation, and packaging.”

Suppliers of aerospace and automotive fasteners are expected to achieve solid results in the coming months as production increases to match demand for commercial aircraft and more fuel-efficient cars.

Anixter Fastener Segment Post Double Digit Growth

Anixter International reported sales at its U.S. OEM supply business, including Anixter Fasteners, grew 11.3% to $140 million in the third quarter of 2010. OEM sales in Europe jumped 36% to $92.7 million.

Nine-month OEM sales in the U.S. gained 2.1% to $403.1 million, while sales in Europe increased 27.3% to $278.6 million.

Overall Q3 sales at Anixter climbed 10% to $1.4 billion, while operating income grew 33% to $77.5 million and net income rose to $36.5 million, or $1.03 per diluted share, as compared to $22.1 million, or $0.61 per diluted share, reported in the year ago quarter.

In September Anixter International’s Board of Directors declared the payment of a special dividend of $3.25 per common share, or a total cash outlay of approximately $110 million.

“Over the course of the last 18 months, we successfully navigated through one of the most serious economic recessions that our company has ever experienced,” explained CEO Robert Eck. “During this time, we were not only able to maintain a solid level of profitability, but also generated record levels of cash flow.”

In the last six quarters Anixter generated $520 million in free cash flow, or $14.77 per share, while using $330 million of this cash to reduce outstanding debt.

Fastenal Reports Double-Digit Sales and Earnings Growth

Fastenal Co. saw sales jump 23.4% to $603.7 million during the third quarter of 2010, boosted by a stronger Canadian dollar and revenue from socket head fastener manufacturer Holo-Krome, which Fastenal acquired in 2009.

Third quarter net earnings jumped 57.6% to $75 million, while earnings per share grew 59.4% to $0.51.

Fastenal’s rate of store openings increased 1.9% to to 2,453 locations at the end of September. The company added 522 jobs to its payroll during Q3, with the full-time employee headcount rising 5% to 10,822.

Nine-month sales improved 16.7% to $1.69 billion, while net earnings increased 43.2% to $200.2 million.

Bossard Reports Sales and Profit Jump

After plummeting sales forced Bossard to cut 12% of its workforce in 2009, the Swiss fastener company has responded with double-digit revenue growth during the first nine months of 2010.

“The positive sales trend in the first half of the year continued throughout the third quarter of 2010,” the company stated.

Bossard sales grew 32.2% (in local currencies) to CHF 119.4 million during the third quarter of 2010, with all three sales areas again reporting double digit growth. U.S. sales gained 32% to CHF 30.9 million during Q3, while revenue in Europe increased 25% to CHF 64.2 million and Asia sales jumped 56% to CHF 24.3 million.

Overall nine-month sales for 2010 rose 25% (in local currencies) to CHF 363.5 million. That figure included a 17.7% increase in U.S. sales to CHF 99.4 million; a 20.8% rise in revenue from Europe; and a 55.8% gain in Asia sales.

“Given the sales development during the first nine months of the year, we expect sales for the entire year to be in the region of CHF 470 million. The Group’s good profitability continued in the third quarter of 2010, so that we will clearly surpass the record result of CHF 32.4 million set up in 2008.”

Hilti Sales Up for 1st Eight Months of 2010

Hilti Group sales rose 5.6% for the first eight months of 2010, compared with the same period the previous year.

Schaan, Liechtenstein-based Hilti attributed the sales growth to new products and new areas of business. Especially successful was fastening systems for photovoltaic panels with the acquisition of U.S.-based Unirac.

Asian and Latin American sales also grew, while Europe, the Near/Middle East and Africa “the picture remains mixed,” according to the company.

The North American sales decline has stopped and even is showing slight growth.

Profits also reversed. Operating profit rose 223% to CHF 2,583 million (US$2.646m). Net profit rose 132% to CHF 54 million (US$55.3m).

Total employment rose slightly to 19,977