News Article

Lock Maker AXA Shows Strong Growth in Profits

Home

VEENENDAAL, The Netherlands – (5 March) Axa Stenman has shown a growth in profit of 36.6% to NLG 15.2 million (US$6.4mn;EUR6.9mn) in 2000. The company located in Veenedaal is a manufacturer of hinges and locks as well as bicycle accessories and has booked an enormous rise in turnover of 72.2% with its take over last […]

VEENENDAAL, The Netherlands – (5 March) Axa Stenman has shown a growth in profit of 36.6% to NLG 15.2 million (US$6.4mn;EUR6.9mn) in 2000.
The company located in Veenedaal is a manufacturer of hinges and locks as well as bicycle accessories and has booked an enormous rise in turnover of 72.2% with its take over last year of the Danish company Basta. The bike accessories were especially responsible for the increase in turnover to NLG 164.3 million (US$69.4mn:EUR74.6mn). Profits of the Danish branch were lower and actually brought down the profit margin slightly. The takeover has given AXA the much-coveted status of European enterprise. The turnover from exports increased from NLG 13 million (US$5.5mn;EUR5.9mn) to NLG 60.8 million (US$25.7mn;EUR27.6mn). More than 90% of their hinge and lock sales are done in the Netherlands. (AH)

Comment on this article