Europe boosts Armstrong gasket sales

• Book ID: 104382975
• Publisher: Elsevier Science
• Year: 1998
• Tongue: English
• Weight: 132 KB
• Volume: 1998
• Category: Article
• ISSN: 1350-4789
• DOI: 10.1016/s1350-4789(98)90421-4

✦ Synopsis

US$1460.8 million, though operating income for the year fell 32% to USS59.6 million.

The Mechanical Components business segment, which includes the design and manufacture of advanced seals and bellows products, reported positive figures for both periods, primarily due to continued strength in the aerospace division. Fourth quarter sales increased 7% to USs76.3 million, while operating income rose 80% to USSlO.6 million, compared with the same period in 1996. For the year, operating income for the segment increased 26% to USs36.9 million, reflecting a USS4.3 million gain from the sale of the EG&G Birtchen Division. Sales for 1997 increased 6% to USS292.7 million. Seal01 Industrial Division, which is being sold to TI Group, contributed US$88 million to these 1997 sales figures.