Fastener and MRO distributor Würth Industry North America said Thursday that it set a new record for revenue growth through July.
The Indianapolis-based subsidiary of German distribution giant Würth Group said its revenue through last month was up 16.5% compared to the previous year, and that it is on pace to set a record for sales volume.
The company attributed the growth, in part, to the 2021 completion of a multi-year strategy to divide into four divisions. Würth officials said the move streamlined and optimized its operations, products and procurement. Its MRO, safety and metalworking division, in particular, grew by 22.7%, while the industrial division grew by 14.5%.
"Even against the economic and market challenges we faced in the first half of 2022, we continue to see double-digit sales growth through our divisional structure," Würth North America CEO Dan Hill said in a statement.
The company said that it added 128 employees in the first seven months of the year, increasing its North American workforce by more than 5%. It is set to open what will be its largest facility in Virginia in coming weeks.