News
GARBSEN, GERMANY – LPKF Group posted 2009 earnings before interest and tax of $10.4 million, up 79.5% year-over-year.
Consolidated sales rose 12% to $75.4 million.
Incoming orders were $83.3 million, up 16.4% over the previous year. Orders in hand rose to $21.9 million, up 43% year-over-year. Growth was influenced by changed product mix and cost reductions, says the firm.
Compared to the same quarter the previous year, fourth-quarter earnings before tax and interest rose 67% to $3 million. Growth was attributed to the Cutting and Structuring Laser Segment.
LPKF expects 2010 growth in sales to exceed 10%, with growth potential in almost all divisions, particularly the LDS business.
Danaher Tool Group’s Steve Breitzka will lead the new firm as president and CEO.
Cooper and Danaher will each hold a 50% ownership stake in the new joint venture. No other financial terms were disclosed.
The company, yet to be named, will be headquartered here, and will market tool industry brands such as Allen, Apex, Armstrong Tools, Campbell, Cleco, Crescent, Erem, GearWrench, H.K. Porter, Jacobs Chuck, Jobox, K-D Tools, Lufkin, Nicholson, Plumb, Sata, Weller and Wiss.
BANNOCKBURN, IL – February PWB shipments by North American fabricators increased 8.5% year-over-year, while orders rose 29.1%.
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