The 2020 Mid-Year Economic Update_long

Day: September 11, 2007

Stock Building Supply Buys ProSource

Stock Building Supply has acquired ProSource Building Supply Ltd, Houston, TX, a construction services business supplying commercial doors, trim, hardwood, related specialty products and installation services.
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In the year ended Dec. 31, 2006, ProSource had revenue of $17.2 million. The acquisition is in line with Stock's goal of expanding in the commercial and industrial markets.
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Stock Building Supply is a company of Wolseley plc, a global distributor of plumbing and heating products as well as building materials. Wolseley announced five bolt-on acquisitions this month, including two by Ferguson and two in Europe. These acquisitions are expected to add 110 million pounds to total ...

Ferguson Makes Two Acquisitions

Ferguson has acquired Western Air Systems & Controls Inc., an exclusive Trane HVAC distributor for the states of California and Nevada with three facilities. In the year ended Dec. 31, 2006, Western Air had revenue of $59.6 million.
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Ferguson has also acquired Davidson Pipe Company Inc., a pipes, valves and fittings distributor in the New York metropolitan market. In the year ended Sept. 30, 2006, Davidson had revenue of $125.8 million.
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Ferguson is a company of Wolseley plc, a global distributor of plumbing and heating products as well as building materials. Wolseley announced five bolt-on acquisitions this month, including one by Stock Building Supply and two in Europe. These acquisitions are expected to add 110 million pounds&nbsp ; to total ...

Premier Farnell 2Q Growth at 3%

London-based global electronics distributor Premier Farnell saw second-quarter sales growth of 3%, despite a more challenging North American market.

Revenue was 178.9 pounds (US$363.3 million) in the second quarter and 362.5 million pounds (US$736M) in the first half.

Total earnings per share were up 13% in the first half.

We continue to make good progress with the rigorous implementation of our business strategy and are especially pleased with the 30% increase in Web sales in the quarter and our success in winning major new franchises," CEO Harriet Green said.

"While market conditions in North America in the second quarter were rather more challenging than in the first quarter, we delivered growth across all divisions with double-digit growth in ...

MDM September 10, 2007

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Chase Expands Coatings Line

Chase Corporation, Bridgewater, MA, a global manufacturer of specialty tapes, laminates, sealants and coatings, announced its subsidiary, Chase Protective Coatings Ltd, has acquired Long Products of Rye, East Sussex, England.
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Long Products is a manufacturer of waterproofing and corrosion protection systems for oil, gas and water pipelines and has been a major supplier to Europe, the Middle East and Southeast Asia.
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This acquisition joins Chase's North American based Tapecoat and Royston brands to broaden the protective coatings product line and better address increasing global demand. Long Products'tapes, epoxies and cathodic protection accessory products are used internationally on new pipeline projects as well as for regular pipeline maintenance.
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Construction Spending Down in July

Construction spending during July 2007 was estimated at a seasonally adjusted annual rate of $1,169.1 billion, 0.4 percent below the revised June estimate of $1,173.2 billion. &nbsp ; The July figure is 2.0 percent below the July 2006 estimate of $1,192.9 billion.
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During the first 7 months of this year, construction spending amounted to $657.7 billion, 3.4 percent below the $680.9 billion for the same period in 2006.
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Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $880.1 billion, 0.7 percent below the revised June estimate of $886.3 billion. Residential construction was at a seasonally adjusted annual rate of $534.0 billion in July, 1.4 percent below the revised June estimate of $541.8 billion. ...

Air Liquide Buys Team One Technologies

Air Liquide, Houston, TX, has acquired Team One Technologies Inc., an independent producer and distributor of medical and specialty gases in Romeoville, IL.
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Air Liquide Healthcare America will own and operate the medical and specialty gas facility to support its strong growth initiatives in the Midwest medical gas market.
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The newly acquired facility will also supply Air Liquide's non-medical packaged and specialty gas business, with an additional geographic base for direct and distributor sales.
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The acquisition strengthens Air Liquide Healthcare America's position as a major supplier in the greater Chicago area, a region that represents about 6 percent of the overall U.S. medical gases ...