The 2020 Mid-Year Economic Update_long

Day: January 24, 2007

Praxair Sales Up 10% in 2006

Industrial gases producer and distributor Praxair, Inc., Danbury, CT, reported sales of $8.3 billion for 2006, an increase of 10% over last year. In North America, sales reached $4.6 billion for the year, up 9%.


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Sales in the fourth quarter were $2.123 billion, up 9% from the same period a year ago. In North America, fourth-quarter sales hit $1.182 billion, up 6%.


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Praxair achieved strong growth from new business and the start-up of new supply systems in every geography and end market.


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Sales growth occurred in most major end markets and the company completed seven major projects in 2006. Additionally, the number of new projects underway and set to come on stream in the next several years increased significantly ...

Praxair to Acquire Mittler Supply of Indiana

Praxair Distribution, Inc., Danbury, CT, a subsidiary of Praxair, Inc., has agreed to buy Mittler Supply Inc., distributor of industrial, medical, specialty gases and related welding equipment and supplies, operating in Indiana, Michigan and Illinois. Mittler had sales of $73 million in 2006 and has 210 employees.


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Founded in 1946, Mittler operates a cylinder-gas fill plant, specialty-gas laboratory and a centralized warehouse for distribution of welding equipment and supplies at its headquarters located in South Bend, IN. The firm also operates several satellite cylinder-gas fill plants and 18 retail sales and distribution locations in the three states.


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“The addition of Mittler Supply to our existing network in the Great Lakes ...

Kennametal Sales in First 6 Months Unchanged

Kennametal Inc., Latrobe, PA, reported sales for the first six months of fiscal 2007 were $1.1 billion, level with the same period last year. Sales grew 6% on an organic basis, offset by the impact of acquisitions and divestiture of J & L Industrial Supply.


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Sales for the quarter were $569 million compared with $563 million in the same quarter last year. Sales grew 6% on an organic basis.


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Metalworking Solutions & Services Group sales were up 5%, led by year-over-year expansion in the distribution, aerospace and general engineering markets. The North American market continued to moderate (+1%), while conditions in the European market continued to improve (+11%), and Asia Pacific (+6%) and India (+7%) delivered solid growth.


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Applied Industrial President to Retire in December

Applied Industrial Technologies announced that Bill L. Purser, president and COO, will retire effective Dec. 31, 2007. Purser, 63, has been president since October 2000.


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Ben J. Mondics, 48, will be promoted to president following Purser's departure. Mondics, effective Feb. 1, will be promoted to COO.


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Mondics is currently Applied's Area Vice President - Midwest Area, where he oversees nine regions and 86 service centers in 11 states. The Midwest sales area is the largest of the company's five geographic divisions. Mondics has been with Applied since 1994.


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