The 2020 Mid-Year Economic Update_long

Day: December 11, 2006

Timken Sells Latrobe Steel Subsidiary for $215M

The Timken Company, Canton, OH, has sold its Latrobe Steel subsidiary in Latrobe, PA, to a group of investors led by the Watermill Group, Hicks Holdings and Sankaty Advisors for $215 million in cash.  “We are taking actions across our portfolio to increase the ability to generate consistent profitable growth,” said James W. Griffith, Timken …

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Samuel, Son & Co. Buys ESCO’s Stainless-Steel Distribution Business

Samuel, Son & Co., a steel distributor in Ontario, Canada, will buy Portland-based ESCO Corp.’s stainless-steel distribution business, The Engineered Metals Group. ESCO Corp., a global manufacturer, wants to focus on its core business of making industrial metal parts.EMG is an independent distributor of commodity, processed and engineered stainless steel products in the Western U.S.The …

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Power Transmission/Motion Control Sales Up 10.9% YTD

The Power Transmission Distributors Association (PTDA) released the September trend data for distributors and manufacturers of power transmission/motion control (PT/MC) products.In September, U.S. distributors’ year-to-date sales of PT/MC products rose 10.9% as compared to sales for January through September 2005.  Sales decreased 1.6% over the previous month and were up 9.4% as compared to September …

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Wholesale Revenues Up 5.9% Over Last Year

Sales. October 2006 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $327.8 billion, down 0.5 percent* from the revised September level, but were up 5.9 percent from the October 2005 level. The September preliminary estimate was revised downward $2.2 …

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October Machine Tool Consumption Up 28% YTD

October U.S. manufacturing technology consumption totaled $368.62 million, according to AMT – The Association for Manufacturing Technology, and AMTDA, the American Machine Tool Distributors’ Association. This total, as reported by companies participating in the USMTC program, was down 9.9% from September, but up 41.4% from the total of $260.60 million reported for October 2005. With …

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