The 2020 Mid-Year Economic Update_long

Day: December 19, 2007

Dover Acquires Industrial Motion Control

DE-STA-CO, New York, NY, an operating company within the Material Handling platform of Dover Corporation's Industrial Products segment, has acquired Industrial Motion Control LLC, Wheeling, IL, with annual revenues of $50 million.
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Serving a global customer base, IMC is an industrial automation manufacturer of mechanical motion control products, including high precision cam-actuated index drives, parts handlers and precision link conveyors, which are integrated into advanced factory automation systems used in a wide variety of industries, including paper conversion, consumer products, packaging, semiconductor, automotive, medical and pharmaceuticals.
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IMC has additional facilities in Belgium and China.
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Dover, with over $7 billion in annualized ...

Actuant Organic Growth at 3% in 1Q

Actuant Corporation, Milwaukee, WI, reported sales of $415 million in the first quarter 2007, a 21% increase from the prior year. The manufacturer had 3% organic growth.
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Robert Arzbaecher, President and CEO of Actuant said: Robust Industrial segment sales as well as continued strength in the European truck market had a favorable impact on our core sales growth in the quarter. These results reinforce the benefits of Actuant's end market, geographic and customer diversification."
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First quarter fiscal 2008 net earnings were $27.4 million, compared to prior year net earnings $25.1 million.
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Industrial Segment
First quarter fiscal 2008 Industrial segment sales increased 32% to $137 million. Excluding currency translation and ...

Air Liquide Plans Expansion in Europe

Air Liquide is planning to expand and modernize its production capabilities in Europe to the tune of & euro; 2 billion a year through 2011.
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The industrial gases company will build three new air separation units (ASU) in response to needs of ArcelorMittal and two industrial areas in France.
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Guy Salzgeber, Vice-President European Operations and member of the Executive Committee, Air Liquide Group, said: "These new investments respond to the high demands of the clients, who include steelmakers, refiners and chemical companies. They are part of the policy of Air Liquide, which will invest around & euro; 2 billion each year between 2007 and 2011, to accelerate its growth and to respect its commitments in terms of sustainable development." ...

Rexel Pushes Ahead With Offer for Hagemeyer

Paris-based electrical distributor Rexel confirmed that it will keep its bid of & euro; 4.85 per share for Dutch rival Hagemeyer NV, a total of about & euro; 3.1 billion (US$4.5 billion).

Analysts and industry-watchers questioned whether the company would move ahead with its takeover bid or reduce the offer after Hagemeyer was ordered to pay & euro; 50 million in advance damages over the bankruptcy of a former ...

Pro-Build Holdings Buys Rosen Building Supplies

ProBuild Holdings, Denver, CO, supplier of building materials to professional contractors, has purchased Fort Lauderdale, FL.-based Rosen Building Supplies, supplier of drywall and related products to commercial and residential building markets, according to Home Channel News.
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Rosen Building Supplies has four locations in Florida and one in Las ...