Volume 48, Issue 7- July 2013

FinancialFlash

NSG Improves in Challenging Market

The NSG Group reported its 2013 fiscal-year results, and company officials note that while “challenging market conditions persist, [there are] signs of improvement in some areas.” The company reported cumulative group revenues of $5.1 billion, 6 percent below the previous year. The company’s architectural revenue for the fiscal year was reported as $2.1 billion.

Company officials note both the North American architectural and automotive markets continued to improve, while its European architectural and automotive markets remain challenging and its Japan architectural markets gradually improved.

The company completed a restructuring program during the fiscal year and realized savings through the program of $97.6 million, “approximately double the amount previously targeted.” Additionally the company reduced its number of employees by 3,000 during the course of the fiscal year as part of its profit improvement program.

Quanex EPG Net Sales Increase 15 Percent in Second Quarter In releasing its fiscal 2013 second-quarter results, Quanex Building Products Corp. reported its Engineered Products Group (EPG), which includes Edgetech IG, saw second-quarter 2013 net sales of $125.2 million compared to $108.8 million a year ago. The company attributes the 15.1-percent improvement to its acquisition of Aluminite as well as higher sales across the segment’s products. Aluminite contributed 11.4 percent of the improvement to net sales, according to the company’s report. EPG’s second-quarter 2013 EBITDA was $14.0 million compared to $7.1 million a year ago.
USG
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