The 2020 Mid-Year Economic Update_long

Day: July 27, 2007

Kaman Opens Four Branches

Kaman Industrial Technologies, Windsor, CT, distributor of bearings, power transmission, electrical, and motion control products, has opened new branches in Lathrop, CA, Bradenton and Port St. Lucie, FL, and Danville, IL.
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Kaman Industrial Technologies is a subsidiary of Kaman Corp. of Bloomfield, CT., which conducts business in the aerospace, industrial distribution and music markets. Kaman Industrial Technologies has 200 ...

SKF to Buy Bearings Supplier

SKF has agreed to buy S2M, a subsidiary of British company Edwards Limited, a manufacturer of magnetic bearings, for 55 million euros (US$75.04 million).
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S2M has annual sales of 40 million euros (US$54.5 million). It is headquartered in Vernon, France.
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S2M focuses mainly on the European markets, with end-user segments in vacuum pumps, small air and gas compressors, turbo expanders and compressors in the oil and gas industry.
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S2M will be part of SKF's Industrial ...

Advance GDP Estimate: Growth of 3.4% in 2Q

Real gross domestic product -the output of goods and services produced by labor and property in the U.S. -increased at an annual rate of 3.4% in the second quarter of 2007, according to advance estimates released by the Bureau of Economic Analysis.&nbsp ; In the first quarter, real GDP increased 0.6%.
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The Bureau emphasized that the second-quarter advance" estimates are based on source data that are incomplete or subject to further revision by the source.&nbsp ; The second-quarter "preliminary" estimates, based on more comprehensive data, will be released on Aug. 30, ...

Industrial Manufacturers to Grow International Sales

Pricewaterhouse Coopers released the results of its quarterly survey of industrial manufacturers, who have downgraded their growth expectations for the next 12 months, citing oil and energy costs and competition from foreign markets, as well as high interest rates and unfavorable exchange rates. On the U.S. side, 62% expect growth in the domestic economy.
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However, manufacturers are quite optimistic about the global economy, with 78% of respondents expecting growth over the next 12 months. This is not surprising based on earnings reports I see on a day-to-day basis; respondents expect their international sales to increase, on average, to 35% of total revenue ...

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