30
FINdex marks double-digit drop in Q1
The FIN Fastener Stock Index dropped 12% in the first quarter of 2008, a rate that's higher than the 8.7% loss reported by an index of related
stocks.
The few bright spots in the FastenerNews.com Index were Nucor, which saw its stock value climb 14% in Q1, as well as Fastenal and Chicago Rivet,
both of which saw double-digit share price gains during the period.
Among publicly traded fastener companies, Park-Ohio's stock took the biggest hit during Q1, falling 37%. Other companies with share loss of at least
20% were Precision Castparts, B/E Aerospace, Barnes Group, Lawson, Dorman and Paulin.
The first quarter drop follows double-digit growth for 2007, gaining 19.9% last year, compared with a 6.2% increase by an index of related industrial
stocks. During 2006 the FINdex rose 19.7%.
Shannon, Rose Chopper revamp cuts fastener use
lead North
American
A program to revamp the U.S. Army's CH-47 Chinook the aft fuselage and cabin, media-blast strip it to bare
twin-rotor helicopters has led to a streamlined metal, then inspect and repair it before bolting on a
distributors assembly process that uses 35% fewer fasteners, new cockpit.
Flight International reports. "We can take the cockpit off an aircraft built in 1970,
Mark Shannon of Tower
The new airframe sections utilize more machined build a new cockpit and splice it on repeatably,"
Fasteners Co., Holtsville,
parts and integrated features to make assembly easier. explained Eland.
NY, is the new president "We have reduced parts count by 35% and fastener The cost of a new airframe has been reduced by
of the National Fastener count by 35% and have much more repeatable outsourcing detailed parts so the plant can focus on final
Distributors Association,
assembly," said program manager Ken Eland. assembly. The program was intended to remanufacture
and Wendy Rose of Blue
The original plan to refurbish the helicopter airframes the Chinooks to restore them and increase capability.
Chip Engineered
was altered because it's more cost-effective to Boeing has the capacity to produce 50-60 new,
Products, Cincinnati, OH,
manufacture new airframe sections. The CH-47 airframe renew and remodeled Chinooks a year, and delivered 36
is the vice president and
incorporates true manufacturing splices, making it in 2007. In addition to the new aircraft for the
president-elect.
Shannon succeeds Joel
feasible to replace entire sections. Netherlands and Canada, several countries are expected
Roseman of Canton, MA-
The process begins by stripping a CH-47, taking the to remanufacture their CH-47s or buy new-build F
based Arnold Industries.
cockpit off, and removing the rotors and dynamic models. Boeing has previously listed India, Pakistan and
Timothy O'Keefe of G.L.
system and sending them for overhaul. Workers take Saudi Arabia as potential customers.
Huyett, Minneapolis, KS, is
the new associate chair.
O'Keefe succeeds Char
NIFS/East lists 156
Cooper of Cable Tie
Anixter fastener
Express, Noblesville, IN. booths thus far for 2008
Shannon is vice
sales 'strong'
president of sales &
The 28th annual 2006 the last time the
marketing and owner of
National Industrial show was in Columbus
the distributorship
Fastener Show/East is there were 185 booths.
Anixter International the aerospace and
founded by his father, the
likely to be one of the First time exhibitors
Inc. reported sales, defense market.
late Thomas Shannon.
smallest NIFS shows in from 2007 account for
including fasteners, Operating income from
Mark Shannon joined
recent years. most of the drop. Of last
climbed 11% to North American
Tower Fasteners fulltime
As of April 20, the NIFS year's 205 exhibiting
US$1.47 billion operations jumped
website lists 141 companies more than 70
in 1984 and has worked
during the first 14% to US$80.6
companies with a total of were new exhibitors. Only
in almost every position,
quarter of 2008, million.
156 booths for the May 11 are listed thus far as
from warehouse and
while net income Revenue from
21, 2008, trade show in returning this year.
purchasing to quality
grew 8% to US$57.7 Europe improved 11%
Columbus, OH. Only 15 of the 2008
assurance.
million. Q1 sales to US$340 million,
Conferences and an exhibitors are taking more
Rose and her husband,
opening reception are on than one booth.
included a 7% while operating income
Mike Rose, acquired Blue
Tuesday. Three months ago show
organic growth rate. slipped 7% to US$13.9
Chip Engineered Products
The 2007 show in Atlanta manager Susan Hurley
Sales in North million.
three years ago. Ninety
drew 221 booths with 205 predicted "over 200
America increased Sales in Asia and
percent of the 25-year-old
exhibiting companies. In booths" by show time, but
10% to US$1.02 Latin America soared
Cincinnati company's the past decade, more recently wrote that
billion, boosted by 9% 18% to US$114.8
business is in custom NIFS/East has ranged from management expected
growth in the OEM million, with income
fasteners and 10% in 653 booths in 1998 to a the total to "approach
supply end market rising 25% to US$7
standards. low of 162 in 2002. In 200."
from strong growth in million.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152 |
Page 153 |
Page 154