Ingersoll Rand tools see ‘positive growth’ while revenues rise
Revenues rose 2%, with organic revenue up 3%, in Q3 2016 for Ingersoll Rand. The industrial segment of Ingersoll Rand’s business, including power tools, saw net revenue virtually flat at $730 million ($729 million in Q3 2015). Tools were singled out for “positive growth”. The group said that challenging end market conditions continued in the industrial […]
CPA predicts mixed fortunes for construction until 2019
The Construction Products Association (CPA) has predicted that construction activity will be largely flat for the next two years, with growth in infrastructure and education offsetting falls in activity in commercial offices and industrial factories, among others. Noting uncertainty following the EU referendum, the CPA urged the Chancellor to focus on reducing uncertainty for the private sector […]
Travis Perkins to close over 30 branches
Travis Perkins is shoring itself up against an uncertain UK outlook by closing at least 30 branches, the company has revealed. Travis Perkins said it has outperformed its markets in Q3, with total sales growth of 3.4% and like-for-like growth of 2%, but highlighted that it was too early to predict customer demand in 2017. Closing […]
Fastener industry profit margins at 6%, claims report
Average profit margins in the fixings and fasteners market are at 6% and just under 10% of companies (84) have recorded a loss for the second consecutive year in the industry, according to a new report. The research – carried out by market analysts Plimsoll Publishing – analysed 859 companies and included these key findings: 195 […]
Construction product manufacturers sales rise in Q3 2016
Sales of construction products have risen for the fourteenth consecutive quarter, according to the first post-Brexit Construction Product Association ‘State of Trade’ survey. Q3 2016 saw manufacturers moved from a pessimistic stance to an optimistic one regarding near-term prospects. Other key survey findings included: A balance of 26% of heavy side firms and 50% of […]
Lower alumina pricing hits Alcoa revenues
Revenues of $5.2 billion, down 6% year-on-year, were recorded in Alcoa’s consolidated financial highlights for Q3 2016. The revenue fall was attributed to the impact of curtailed and closed operations, lower alumina pricing as well as other pricing pressures. The results drilled down to the performance of Alcoa’s separate businesses, with separation scheduled to become effective before […]
Selco Builders Warehouse plans to expand into ‘every major UK town and city’
Following the recent launch of two new sites in Wolverhampton and Portsmouth, Selco Builders Warehouse has committed to opening a further seven locations in the next nine months – taking its total to 50 – with plans for further expansion in the second half of next year and beyond. Chief Executive Chris Cunliffe said: “Our […]
US market expects growth in tools and fasteners
Despite signs of a slowdown, the US market expects growth in fasteners and tools. Georgia H Foley, Executive Director of STAFDA, provides us with local insight and marks Torque Magazine’s new membership of STAFDA… STAFDA (Specialty Tools & Fasteners Distributors Association) is pleased to have Torque Magazine join our organisation! STAFDA has grown from a US-based association to an international one serving 2,500 companies in […]
TR Fastenings extends Self-Clinch Range thanks to growing demand
TR Fastenings has further grown its self-clinch range of fasteners for sheet metal products to meet growing requirements, in response to booming demand, the firm has said. The global manufacturer and supplier of industrial fasteners said it had seen a whopping 40% increase in sales of self-clinch fasteners for sheet metal products over the last five […]
Aerospace Fasteners Market to hit $7.7 billion by 2021, claims report
The aerospace fasteners market is projected to grow from USD 5.49 billion in 2016 to USD 7.73 billion by 2021, at a CAGR of 7.08%, according to a report from Research and Markets. A rise in aircraft orders – due to the growth in air transport in emerging economies – has been a key factor behind […]