The 2020 Mid-Year Economic Update_long

Day: November 1, 2007

WESCO Buys J-Mark

WESCO International, Inc., Pittsburgh, PA, a provider of electrical MRO products and construction materials, has acquired J-Mark Inc., Phoenix, AZ. J-Mark, with four locations in the U.S. and annual sales of $30 million, is a provider of interior products and components to the manufactured housing industry.
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The move strengthen's WESCO's position in the manufactured housing industry. J-Mark's president and CEO said that its offshore sourcing capabilities would also be of strategic use to WESCO.
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WESCO International's primary operating entity is WESCO Distribution, Inc. WESCO Distribution is a distributor of electrical construction products and electrical and industrial maintenance, repair and operating (MRO) supplies, and is also a provider of integrated ...

Manufacturing Growth Slows to Lowest Level Since March

Economic activity in the manufacturing sector expanded in October, say the nation's supply executives in the latest Manufacturing ISM Report On Business.
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However, manufacturing growth slowed to its lowest level since March 2007. While the New Orders Index continued to grow and the Production Index fell below 50 for the first time since January 2007, the Employment Index grew slightly, signaling continuing strength in manufacturing employment.
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It does appear that the impact of the slowdown in the financial, housing and transportation segments has spilled over into manufacturing with the exception being continued strength in new export orders, ISM reports.
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Schneider Electric Forms Joint Venture in China

Schneider Electric has finalized the formation of Delixi Electric, its new 50/50 joint venture in China for low-voltage products.
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The joint venture will be focused on the manufacturing, marketing and distribution of low-voltage products to the Chinese market. It will also expand its business model into targeted countries.
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Delixi employees about 14,000 employees across China.
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Schneider has 112,000 employees and operations in 190 countries. It had sales of & euro; 13.7 billion in ...

Legrand Expands in Mexico

Electrical supplier Legrand has acquired Macse, a Mexican producer of metal cable trays.
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The move strengthens Legrand's presence in Mexico, a high-growth market where it is already a player in wiring devices and energy distribution.
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Macse reported 2006 sales of close to & euro; 10 million (US$14 million).
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In Mexico, sales have risen 15% since the beginning of the year.
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This move follows a series of acquisitions since the beginning of the year, including HPM, No. 2 in wiring devices in Australia; UStec, an American company specializing in residential structured cabling; and Kontaktor, Russia's No. 1 in high-current circuit-breakers. Together the four companies are expected to generate annual sales of over & euro; 170 million ...

3M Acquires Standard Abrasives

3M, St. Paul, MN, has acquired Standard Abrasives, a manufacturer of coated abrasive specialties and non-woven abrasive products for the metalworking industry.
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With this acquisition we are joining two great abrasive companies and brands, both of us successful, and both of us with proud histories of innovation that are now coming together to drive towards a very bright future," said Chris Holmes, vice president and general manager, 3M Abrasive Systems Division.
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Standard Abrasives employs 375 people and is headquartered in Simi Valley, CA. ...

McJunkin-Red Man Merger Closes

Industrial and oilfield PVF distributors McJunkin Corp. and Red Man Pipe and Supply Co. have completed their merger, forming McJunkin Red Man Corp. The new company will have headquarters in both Charleston, WV, and Tulsa, OK.
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McJunkin CEO and President H.B. Wehrle III and Red Man Pipe and Supply Company President and CEO Craig Ketchum will serve as Co-Chief Executive Officers for the new company.

McJunkin Red Man Corporation remains a privately held firm.
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In January 2007, Goldman Sachs Capital Partners became a substantial investor in McJunkin ...

Moro Corp. Acquires J& J Sheet Metal Works

Moro Corp., Wayne, PA, has acquired J & J Sheet Metal Works, Vestal, NY.
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J & J fabricates and installs commercial grade sheet metal products used in the heating, ventilating and air conditioning (HVAC) industry.
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The company's customers are primarily mechanical contractors doing HVAC work for schools, hospitals, and industrial, commercial and governmental buildings. The company's customers are primarily in the Southern Tier Region of New York State.
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Moro is a construction products and services company engaged in the fabrication of concrete reinforcing steel (rebar), sheet metal (duct work), structural steel and process piping, the distribution of construction steel, miscellaneous steel and construction accessories, and ...

Parker Hannifin Buys Shaw Aero Devices

Parker Hannifin Corp.'s Parker Aerospace has acquired Shaw Aero Devices, Inc., Naples, FL, a producer of aerospace components and equipment.
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Shaw Aero Devices, Inc. has 250 employees. The company, which invented patented safety-lock, flush- mounted fuel and lightning safe caps, also produces other caps and adapters, fuel system components, lubrication and hydraulic system equipment, and water and waste components for aerospace markets, including both commercial and military aircraft and their engines.
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The business had sales of $45 million in 2007.
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Shaw Aero Devices will be integrated into Parker Aerospace's Air & Fuel Division, in Irvine, California.
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Parker Hannifin designs, manufactures, and services flight control, ...

Interline Brands 3Q Sales Up 5.1%

Interline Brands, Inc., Jacksonville, FL,&nbsp ; a distributor and direct marketer of maintenance, repair and operations products, reported sales were up 5.1% in the third quarter 2007 ended Sept. 28. Sales were $330.2 million.
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Interline attributed the growth to solid performance in its facilities maintenance end market, which grew at 13.9% on an average organic daily sales basis.
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Revenues in the professional contractor and specialty distributor markets fell 10.4% in the third quarter.
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Sales for the nine months ended Sept. 28 were $938.8 million, a 21.3% increase over the comparable 2006 period. Sales from the July 2006 acquisition of AmSan represented a 17% increase in sales for this nine-month period. Average organic daily sales growth for ...