ERIE, Pa. (June 13)—Lord Corp. chalked up record sales and earnings last year for the eighth consecutive year, but President Charles J. Hora warned 2001 could bring lower profits because of raw materials cost increases and recessive conditions in key markets. For fiscal 2000, Lord registered a 7.3-percent increase in net income to $33.1 million, on a 5.3-percent rise in sales to $441.5 million, the company said. Lord's Mechanical Division, which makes rubber-to-metal bonded anti-vibration components, reported record sales while struggling with recessive conditions in the truck/bus, aerospace and recreational markets, Hora wrote in a letter to shareholders. The company strengthened the mechanical division in the past year, buying Metal Gomma in Italy early in the year and opening a manufacturing arm in China in October. Despite the economic challenges of 2001, the company is confident it will register sales growth in all three business areas.
Lord posts record sales, earnings for 2000
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