The 2020 Mid-Year Economic Update_long

Day: May 15, 2007

HD Supply Organic Sales Down 6.5%

The Home Depot, Atlanta, GA, reported first-quarter profit of $1 billion, compared with $1.5 billion in the same period in fiscal 2006.
&nbsp ;
Sales for the first quarter totaled $21.6 billion, a 0.6% increase from the first quarter of fiscal 2006. Total sales in the retail segment declined 4.3% to $18.5 billion, and comparable store sales declined 7.6%.

Total sales in the HD Supply segment grew by 46% to $3.1 billion, reflecting sales from acquired businesses. Organic sales were down 6.5%.
&nbsp ;
The housing market continues to be a challenge, and erratic weather conditions across the United States negatively affected our spring selling season," said Frank Blake, chairman & CEO.
&nbsp ;
Earlier this year Home Depot announced that it was conducting ...

HeidelbergCement to Buy Hanson for $15.8B

HeidelbergCement AG, Heidelberg, Germany, has agreed to buy Hanson plc for about & pound; 8 billion (US$15.8 billion). The transaction forms the second largest building materials group worldwide.
&nbsp ;
HeidelbergCement is one of the top producers of building materials worldwide, with its core products being cement, ready-mixed concrete and concrete products, aggregates, building materials and other products. It had sales in 2006 of & euro; 9 billion (US$12.2 billion).
&nbsp ;
Hanson supplies heavy building materials to the construction industry, with sales of & pound; 4.1 billion (US$7.9 billion) in 2006. Its products fall into two categories: aggregates, which includes crushed rock, sand and gravel, ready-mixed concrete, asphalt and cement-related products; and building ...

Canadian Manufacturers See Strong March

Release taken from Statistics Canada.&nbsp ; All dollars are Canadian.

Canadian manufacturers had a strong March, following a slight increase in factory shipments in February, as previous supply disruptions caused by the rail strike and the refinery fire in Ontario were rectified.

In March, manufacturers shipped goods worth an estimated&nbsp ; $50.1&nbsp ; billion (Canadian), representing a&nbsp ; 2.8% gain over the previous month. For the first quarter, shipments were up&nbsp ; 1.0% compared to the fourth quarter of&nbsp ; 2006.

Using constant dollars, which take price fluctuations into account, the volume of shipments rose&nbsp ; 1.6% to&nbsp ; $45.1&nbsp ; billion, the fourth increase in five months.

Illinois Tool Works Sales Grow 15%

Diversified industrial manufacturer Illinois Tool Works Inc., Glenview, IL, reported sales in many North American end markets continue to be weak.
&nbsp ;
Sales for the quarter ended April 30, 2007, increased 15%. That included a 10% increase from acquisitions (minus divestitures), 2% growth from base revenues, and 3% from translation and other items.
&nbsp ;
Sales in Engineered Products/North America were down 2% from the same period a year ago; Engineered Products/International sales were up 27%. Specialty Systems/North America sales were up 9%; Specialty Systems/International sales were up 21%.
&nbsp ;
ITW is a $14.1 billion diversified manufacturer of highly engineered components and industrial systems and consumables. The company has 750 business units in 49 ...

Emerson to Acquire Stratos International

Emerson, St. Louis, MO, has agreed to buy Stratos International, Inc., which will become part of Emerson Network Power. Emerson will acquire the company for about $85 million.
&nbsp ;
The agreement broadens the scope of Network Power's offerings and strengthens the position of Emerson Connectivity Solutions in the $35 billion connector industry, particularly in the radio frequency (RF) sector.
&nbsp ;
Emerson Network Power serves telecommunications networks, data centers, health care and industrial facilities with power solutions, including inbound power, connectivity, power supplies, power systems and precision cooling. Sales in fiscal 2006 were $4.4 ...