Fastener Distributor Bossard Struggles in U.S.
Swiss fastener distributor The Bossard Group reported sales increased 8.4% in the second four months of its fiscal year, to 184 million Swiss franc, or US$147.86 million. Group sales for the first eight months of the year were 376.8 million franc, or US$302 million.
Sales in North America fell 10.2% in the second third of the year. Bossard reported that its major customers had warned the distributor to expect a decline at the end of 2005 and going into 2006.
"This decline was much steeper than expected," the company reported. "Particularly the collapse in the sale of consumer durables was much more drastic than could have been anticipated, which was also registered by the stock ...