The 2020 Mid-Year Economic Update_long

Day: January 17, 2007

Apollo Management Takes Stake in Bradco Supply

Apollo Management, which also recently invested in Rexnord, has made an investment in Bradco Supply Corp., a roofing supply distributor based in Avenel, NJ. Bradco has more than 150 branches in the U.S.


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We are happy for the relationship with Apollo, said founder Barry Segal. In a short period of time we have become comfortable with the chemistry and we see this as a great opportunity to significantly grow the company."


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Apollo is a private equity, debt and capital markets investor with offices in New York, London and Los Angeles.


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More Breaking ...

Wholesale Prices Rise 1.1% in 2006; 0.9% in December

Wholesale prices rose 1.1% in all of 2006, in contrast to the 5.4% rise in 2005, the Department of Labor reported. The government attributed the slower rate of advance to the index for finished energy goods, which fell 2% in 2006 after climbing 23.9% a year earlier. Otherwise, wholesale prices except foods and energy moved up 2% in 2006 following a 1.4% gain in 2005.


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At the earlier stages of processing, prices received by intermediate goods producers increased 2.8% in 2006 compared with an 8.6% advance in the preceding year, while the crude goods index declined 2.4% after moving up 21.1% in 2005.


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Wholesale prices rose 0.9% in December, seasonally adjusted. The rise follows a 2% advance in November and a 1.6% decline in October. At the ...

Nov. Power Transmission/Motion Control Sales Up 10.7% YTD

In November, U.S. distributors' year-to-date sales of power transmission/motion control products climbed 10.7% as compared to sales for January through November 2005, according to the latest November trend data released by the Power Transmission Distributors Association. Sales fell 3.6% over the previous month and were up 7.8% as compared to November 2005.


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Days sales in accounts receivables rose 1.3% as compared to October 2006 and increased 2.9% as compared to the same month last year.&nbsp ; Annualized sales to inventory ratio in November was 8.3, compared to 7.9 in 2005.


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For November, the confidence level of U.S. distributors decreased to 6.2 from 6.3 in October on a 10-point scale.


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Canadian distributors' ...