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French fastener group LISI recorded 16.7% organic growth in the third quarter and 25.4% increase overall - amounting to 233 million euros.
2011 nine months sales totalled 680 million euros compared with 567 million euros previous year same period.
280 million euros sales were generated by LISI Aerospace reflecting on target deliveries by both Boeing and Airbus. European forward orders reflect increased Airbus production expectations. While recovery has been confirmed for the division, says LISI, it will not be complete until its Torrance (USA) plant achieves a load level in line with installed capacity. In Europe the new LISI Creuzet division is reported to be benefiting from high levels of aerospace activity.
LISI automotive says vehicle demand remains "well oriented" especially in Germany, despite a slight slowdown expected in Quarter 4. LISI Automotive generated 344 million euros nine month sales, up 15.6% on same period 2010. Operating margins were impacted by the cost of resolving production problems in the spring, which LISI notes did not impact customer service. Raw material costs have stabilized and even fallen slightly, says LISI, and negotiations to pass on costs have been completed.
