Rexnord Corporation, Milwaukee, WI, manufacturer of highly engineered precision motion technology products, primarily power transmission products, reported sales grew 9.1% in second quarter fiscal 2007 to $298.1 million. Rexnord recorded profit of $0.4 million for the quarter.
The sales increase was driven primarily by strength in its industrial products end markets of natural resource extraction, metals processing, infrastructure expansion (mining, cement, aggregates) and food and beverages as well as strong demand for aerospace products.
Bob Hitt, Rexnord id=bwanpa1>’s CEO, said: id=bwanpa5>’We continue to see positive trends in our businesses and end markets, which is demonstrated by our solid order growth of 9.4% in the quarter and 10.8% through the first six months of fiscal 2007 (adjusted to include Falk for the entire six months in the prior year). That positive order trend results in our backlog currently sitting at $376.4 million 22% higher than the beginning of the fiscal year.’
For the first six months of fiscal 2007, sales were $586.5 million, an increase of 14.3% over the same period in the prior-year period.
Jacuzzi Stockholders Sue Over Proposed Rexnord Merger
Rexnord Adds Plumbing Platform
More Breaking News