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Day: November 7, 2007

Hagemeyer Acquires Another Firm in Latvia

Leave a Comment / Finance, Mergers & Acquisitions, Free, Companies, News, Subscriber Only / By

Dutch distributor Hagemeyer has acquired SIA Energo, an electrical distributor in Latvia. The acquisition of Energo, through Hagemeyer's fully-owned Finnish subsidiary Elektroskandia Oy, follows on the acquisition of Kolorits, announced earlier this week.
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Energo has revenues of more than & euro; 10 million and over 50 employees. The company is predominantly active in the Construction and Installation market and specialized in the wholesaling of cables.
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Before the acquisitions of Energo and Kolorits, Hagemeyer operated in Latvia through its subsidiary SIA Elektroskandia, which has annual revenues of & euro; 10 million and about 40 employees.
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We are very happy with the acquisition of Energo," says Rudi de Becker, CEO of Hagemeyer. "This ...

Ainsworth Settles OSB Antitrust Case

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Ainsworth Lumber Co., Vancouver, Canada, has entered into an agreement with the direct-purchaser plaintiffs in the OSB Antitrust Litigation. Under the agreement, Ainsworth will pay US$8.6 million to be distributed across the settlement class.
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Five building products distributors had filed a class-action lawsuit against manufacturers of OSB, including Ainsworth, alleging the suppliers suppressed supply to raise prices to unprecedented highs, despite increasing demand.

J.M. Huber Corp. has also settled in the case. The other suppliers named in the lawsuit are: Louisiana-Pacific Corp., Georgia-Pacific Corp., Weyerhaeuser Co., and Potlatch Corp. Plaintiffs include Sawbell Lumber, Philadelphia, PA; Norwood Sash & Door Manufacturing, Cincinnati, OH; Columbare ...

Air Liquide Buys Ramsgate Assets in Iowa

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Air Liquide Industrial U.S. LP, Houston, TX, has acquired the Galva, IA, carbon dioxide and dry ice assets of Ramsgate Corp., which formerly conducted business as Heller's Carbonic West.
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The acquisition more than doubles Air Liquide's dry ice capacity in the region, allowing for an increase in services for food processing and cold transport applications. The acquisition follows the expansion of dry ice production capacity in the eastern U.S.
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Air Liquide Industrial U.S. LP is the subsidiary of American Air Liquide Holdings, Inc. responsible for providing bulk gases and related services to industrial customers in the U.S. It provides bulk gases and related services to a diverse base of customers in the U.S. including those in the chemical, food, metals and ...

McKesson Sales Grow 9% in 2Q

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McKesson Corp., San Francisco, CA, reported revenues for the second quarter ended Sept. 30, 2007, were $24.5 billion compared with $22.4 billion a year ago, up 9%. Profit was up 8% to $247 million.

Year-to-date, sales are up 7% to $48.9 billion.
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In its Distribution Solutions segment, U.S. pharmaceutical distribution revenues grew 9% in the second quarter. Warehouse sales increased 5%. Canadian revenues increased 15% for the quarter, including a favorable currency impact of 8%, and medical-surgical distribution revenues were up 11% for the quarter.
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In Technology Solutions, revenues were up 36% for the quarter. Services revenues were up 52% and software and software systems revenues were up 4%. ...

STAFDA a Barometer of Channel Shifts

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The STAFDA annual trade show offered some indicators about the emerging importance of tangential growth in distribution channels. The two-day, product-focused trade show wrapped up yesterday with more than 5,000 attendees and nearly 1,000 booths. Construction-related products -fasteners, hand and power tools, safety products -formed the core product areas. But it was what was happening beyond product that caught my attention (although there were some great new products displayed!).
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New residential construction is down, yet commercial and industrial construction markets are strong, and renovation markets look attractive. Distributors with core customers in residential contracting are more than motivated to grow the commercial and industrial construction side. The same holds ...

Hoboken Files Ch. 7 Bankruptcy Petition

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After closing down earlier this week, the largest independent wood flooring distributor in the U.S. at more than $600 million in sales, Hoboken Wood Flooring LLC, Wayne, NJ, has filed a voluntary petition for Chapter 7 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware.

According to a report this week from local paper The Record, sales had fallen about 25% each month for the past year - the commercial business development manager for the company attributed the sales losses to the housing downturn, competition from manufacturers going direct, and the company's push to expand nationally.

The latter was emphasized in a Floor Covering Weekly report published shortly after private ...