The 2020 Mid-Year Economic Update_long

Day: December 20, 2007

Descartes Buys RouteView for $3M

Descartes Systems Group, Waterloo, Ontario, a global on-demand software-as-a-service (SaaS) logistics solutions provider, has acquired Burnsville, MN-based RouteView Technologies, Inc., for $3 million.
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RouteView provides technology solutions to small- and medium-sized organizations that help them manage their delivery operations. The company features map-based routing software combines with wireless/GPS and automated call-out technology.
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Descartes, a provider of software-as-a-service (SaaS) logistics solutions, logistics management solutions combine a multi-modal network, the Descartes Global Logistics Network, with component-based & lsquo; nano'sized applications to provide messaging services between logistics trading partners, shipment management services ...

Industrial Controls Merges With Piedmont Instruments

Industrial Controls Distributors LLC, Wanamassa, NJ, distributor of HVAC controls, process instrumentation and industrial automated valves, has merged with Piedmont Instruments and Controls, Charlotte, NC.
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Piedmont will integrate with Industrial Controls' Charlotte operation to cover North Carolina, South Carolina and Virginia.
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The combination of the two companies will give us an exceptional platform to continue our expansion plans in the Southeast Region," Joe Eichelberger, CEO of Industrial Controls said. "This will be further evident when we move into our new Charlotte office with ample warehouse space, state-of-the-art training and demonstration facilities to be completed later this spring."
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Industrial Controls has 12 offices covering 22 ...

Eaton to Acquire Two Electrical Suppliers for $2.7B

Diversified industrial manufacturer Eaton Corp., Cleveland, OH, plans to acquire two electrical suppliers -one in Europe and one in Asia-Pacific. The acquisitions' combined estimated sales for the year ended Dec. 31, 2007, are $2 billion.
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When the acquisitions close, Eaton's electrical business will have annual sales of more than $7.5 billion.
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The European acquisition is of The Moeller Group, Bonn, Germany, a supplier of components for commercial and residential building applications, and industrial controls for industrial equipment applications. The company sells products primarily to customers in Western and Eastern Europe and in Asia Pacific. The agreed purchase price for Moeller is & euro; 1.55 billion (US$2.23 billion).
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The Moeller Group ...

SKF to Build Factory to Meet Rail Industry Needs in Russia

SKF will build a factory near Moscow in Russia for taper bearing units to supply the Russian railway market.
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The construction of the new factory will start in September 2008 and will be in operation by April 2010. The factory will also have a channel dedicated to the reconditioning of bearings.
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The plant will employ about 150.
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SKF reports that Russia is transitioning from cylindrical roller bearings and axlebox designs to taper bearing units. This shift to pre-lubricated taper bearing units is driven by an objective to obtain longer maintenance intervals and lower lifecycle costs," SKF ...

Freudenberg Sells Brake Hose Business

Freudenberg has agreed to sell its European and U.S. brake hose business, Flexitech, to Mitsubishi Corp. and Meiji Flow Systems.
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Flexitech had sales in Europe and the U.S. of & euro; 80 million in 2006.
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Mitsubishi and Meiji, who have brake hose activities in Asia, plan to continue expanding business in Europe and the U.S. Our objective is to become the market leader in brake hoses throughout the world, in addition to Europe," said Katsuhiko Aoki, General Manager, Mitsubishi Corp.

Flexitech Europe SAS is in Saint-Andre-le-Puy, France. It designs, manufactures, and markets automotive hydraulic brake hoses to European OEMs and runs a hose manufacturing plant and an assembly plant. Flexitech RO SRL Romania, assembles hoses purchased from Flexitech ...

GDP Grows 4.9% in Third Quarter

Real gross domestic product -the output of goods and services produced by labor and property in the United States -increased at an annual rate of 4.9% in the third quarter 2007, according to final estimates released by the Bureau of Economic Analysis. In the second quarter, real
GDP increased 3.8%.
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The acceleration in real GDP growth in the third quarter primarily reflected accelerations in exports, in PCE, and in private inventory investment that were partly offset by an upturn in imports, a larger decrease in residential fixed investment, and a deceleration in nonresidential structures.
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The increase in real GDP in the third quarter primarily reflected positive contributions from exports, personal consumption expenditures (PCE), private inventory ...

Forecast: Manufacturing Flat in 2008

The U.S. manufacturing sector will face turbulent times next year due in large part to the continuing housing collapse.&nbsp ; As a result, the economic landscape will remain highly volatile in 2008 before rebounding in 2009, according to the Manufacturers Alliance/MAPI Quarterly Industrial Outlook, a report that analyzes 27 major industries.
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Housing starts were down 24 percent in the third quarter of 2007.&nbsp ; They are expected to fall another 28 percent in 2008, according to Daniel J. Meckstroth, chief economist for the Manufacturers Alliance/MAPI, and author of the analysis.&nbsp ; The good news is that the trend is likely to reverse itself in 2009, when housing starts are expected to see 34 percent growth to 1.3 million units.
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On an annual basis, MAPI ...