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Seco Tools Sales Rise 26% in Second Quarter

Swedish manufacturer Seco Tools' revenue for the second quarter rose by 32 percent at fixed exchange rates, and by 26 percent in Swedish kronor (SEK) to SEK 1,485 million (US$201.5 million). Operating profit for the quarter was SEK 311 million (US$42.2 million), and profit after tax for the six month period was SEK 358 million (US$48.5 million).

"Demand continued to improve successively in virtually all of Seco Tools' markets during the quarter. As earlier, the most significant growth is taking place in South America and the emerging markets of Asia, together with the U.S.," said Kai Wärn, President and CEO.

Also recently, Seco Tools has expanded its position in the aircraft industry through the acquisition of French cutting tools company AOB, with annual revenue of about €4 million.

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