The 2020 Mid-Year Economic Update_long

Day: October 22, 2007

Industrial Gases Supplier Rohm & Haas Raises Prices 5-15%

On the heels of a price increase announcement by Airgas, Rohm and Haas Company, Philadelphia, PA, said it is also seeking price increases for most of its chemical products, effective Nov. 1, 2007. Increases will range from 5% to 15%.
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The costs of key raw materials -such as propylene, ethylene, methanol, as well as other raw materials like tin -have remained persistently high," said Pierre Brondeau, executive vice president in charge of Specialty Materials. "Earlier in the year, there were strong indications that raw material prices would peak around mid-year, and then trail off during the second half of 2007. Given these expectations, we did whatever we could to use internal controls to mitigate the impact of the cost increases to Rohm and Haas, and selectively sought ...

WinWholesale Opens Four Locations

WinWholesale Inc., Dayton, OH, has opened four Winnelson locations and will soon open the first store in Washington state. It is now in 44 states.

The new locally-owned and operated Winnelson companies provide plumbing supplies, equipment and accessories to residential and commercial plumbing contractors.

The recently opened companies and locations are:

  • Palmetto Winnelson, Co., Lexington, S.C.
  • San Diego Winnelson Co., San Diego, Calif.
  • Vero Beach Winnelson Co., Vero Beach, Fla.
  • Winston-Salem Winnelson, Co., Winston-Salem, N.C.

An additional company, Puget Sound Winnelson, will open in Bremerton, WA., in the coming ...

3M Acquires Polish Manufacturer

3M, St. Paul, MN, has agreed to acquire Unifam Sp. z o.o., a manufacturer of cut-off wheels, depressed center grinding wheels and flap discs based in Poland.

Unifam supplies conventional bonded wheels and flap discs used to cut and grind materials such as metallic sheet, rod, pipe and welds, for markets that include metalworking, shipbuilding, heavy equipment manufacturing and construction. Unifam currently produces products for 3M that feature 3M's Cubitron Abrasive Grain.

Investing in a local company from the industrial sector expands our product portfolio and will allow us to better support our customers'growth in Europe and beyond," said Jose Del Solar, managing director, 3M Poland.

Unifam employs approximately 95 people at its facility in ...

Private Equity Firm to Buy HVAC Supplier Goodman for $2.6B

Goodman Global, Inc., Houston, TX, manufacturer of residential and light commercial heating, ventilation and air-conditioning equipment, has agreed to be acquired private equity firm Hellman & Friedman LLC for $2.65 billion in cash.

The transaction will be financed by Barclays Capital, Calyon New York Branch, GE Commercial Finance and vehicles managed by GSO Capital Partners LP and Farallon Capital Management, LLC.

Stockholders holding a majority of Goodman's outstanding shares have agreed to vote in favor of the transaction.

Goodman Global, Inc. products are predominantly marketed under the Goodman, Amana and Quietflex brand names, and are sold through company-operated and independent distribution networks with more than 800 distribution points ...

3M Sales Up 5.5% in 3Q

3M, St. Paul, MN, reported third-quarter sales of $6.2 billion, an increase of 5.5%. Sales rose 9.4% adjusted for recently divested businesses, primarily the company's branded pharmaceuticals business.
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Third-quarter profit was $960 million, versus $894 million, in the third quarter of 2006, up 7.4%.
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Local-currency sales including acquisitions increased 16.6% in Health Care ($961M in sales), 6.7% in Safety, Security and Protection Services, 5.4% in Industrial and Transportation ($1.8B), 4.3% in Electro and Communications ($714M), 3.5% in Consumer and Office ($898M), and 1% in Display and ...