January 17, 2008 - Modern Distribution Management

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January 17, 2008

Parker Hannifin Sales Grow 12.7% in 2Q

Parker Hannifin, Cleveland, OH, supplier in motion and control technologies, reported that for the second quarter 2008, which ended on Dec. 31, 2007, sales were $2.8 billion, an increase of 12.7% from the same quarter a year ago.
 
Profit increased 9.8% to $211.9 million from the same quarter a year ago.
 
Of the 12.7% sales growth this quarter, 4.9% was organic, 2.9% was the result of strategic acquisitions, and the remainder was from the effects of foreign currency exchange rates.
 
The company made four strategic acquisitions this quarter, adding $223 million in sales. These acquisitions included electrical and production umbilical cables for subsea oil and gas installations; further expansion of aerospace components and equipment capabilities; ...

Industrial Production Unchanged in December

Industrial production was unchanged in December.
 
For the fourth quarter, output fell 1% (annual rate), the first quarterly decrease since the fourth quarter of 2006. At 114% of its 2002 average, total industrial production in December was 1.5% above its year-earlier level.
 
Output in the manufacturing sector was unchanged in December. The output of utilities decreased 0.2% in December as a result of a decline at gas utilities; the output at mines edged up 0.1% after an increase of 1% in November.
 
Capacity utilization for total industry posted a small decrease in December, to 81.4%, a rate slightly below its year-earlier level but 0.4 percentage point above its 1972-2006 ...

Thomas & Betts Buys Homac Manufacturing

Thomas &Betts Corp., Memphis, TN, has acquired The Homac Manufacturing Company, a manufacturer of components used in utility distribution and substation markets, as well as industrial and telecommunications markets, for $75 million. In 2007, Homac sales were $65 million.
 
Thomas &Betts is a manufacturer of electrical components used in construction, industrial and utility markets. The company is also a producer of commercial heating and ventilation units and highly engineered steel structures used primarily for utility transmission. ...

Report: Dollar Decline Hurting Canadian Manufacturing

The Canadian economy is firing on all cylinders except one,"with manufacturing in the midst of a year-long recession, according to a new Manufacturers Alliance/MAPI report, available at www.mapi.net.

In "Review of the Canadian Economy, 2007-2008," Jeremy A. Leonard, MAPI economic consultant, writes that the Canadian economy is growing at or above potential, and labor markets are as tight as they have been in a generation. However, manufacturing is suffering from the rapidly strengthening Canadian dollar and slower-than-expected growth in the U.S.

Real gross domestic product grew by 2.9 percent at an annualized rate in the third quarter 2007 but is expected to decelerate to the 2-percent range before ...

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