The 2020 Mid-Year Economic Update_long

Day: June 30, 2006

Industrial Gas Distributors Fight Rising Costs with Price Increases

Both Praxair Distribution Inc. and Airgas Inc have announced price increases recently in response to the rising cost of fuel and energy as well as basic materials such as steel, aluminum and brass.“The cost of fuel and energy has escalated beyond what we can absorb,” said Praxair Distribution President Wayne Yakich. “This, along with the …

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Parker-Hannifin Increases Share to 60% of Taiyo

Parker Hannifin Corporation has strengthened its global motion and control capabilities by becoming the majority shareholder in Taiyo Ltd., an Osaka, Japan-based leader in hydraulic and pneumatic technologies. Earnings are expected to be accretive in the first full year.Parker increased its equity stake in Taiyo to approximately 60% by purchasing all Taiyo voting stock previously …

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Singer Equities Buys PRC Industrial Supply

Singer Equities has acquired PRC Industrial Supply, Inc., Portland, ME, with a branch location in Bangor.  Founded in 1880, PRC is an industrial rubber products distributor specializing in the sale and installation of conveyor belting, industrial hose, and hydraulic hose and components. Singer Equities is a private equity firm focusing its investments toward value-added distributorships in the …

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Commercial Solutions Acquires Rig Products for $8M

Commercial Solutions, Edmonton, Alberta, has completed the acquisition of Rig Products Inc., an Alberta-based oil and gas equipment distribution company, for $8 million. The acquisition will add approximately $15 million in annual revenues to Commercial and is expected to be accretive to earnings. It also further strengthens Commercial’s depth of inside and outside sales staff …

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Simonds International Sells Industrial Knife Business

Simonds International, Florence, SC, manufacturer of cutting tools, has reached an agreement to sell its industrial knife business to IKS-ACM of Florence, SC. The announcement was made by Ray Martino, president of Simonds International. The sale, anticipated to be in July 2006, consists of several Simonds industrial knife product lines which had previously been sold …

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