The 2020 Mid-Year Economic Update_long

Day: February 6, 2008

Huttig Building Products Sales Fall 21% in 2007

Huttig Building Products, Inc., St. Louis, MO, distributor of millwork, building materials and wood products, reported a net loss for the year ended Dec. 31, 2007, of $8 million, compared with a net loss of $7.7 million in the prior year. Sales fell 21% to $874.8 million.
Sales to national accounts, representing 36% of 2007 sales, declined by 18% from 2006.
Looking ahead, most current forecasts do not expect a bottom in new housing construction until late in 2008," CEO Jon Vrabely said. "Our continued challenge is to balance our cost reduction efforts with the need to maintain our strategic infrastructure and high service levels so that Huttig is well positioned when the market rebounds. We remain focused on doing everything we can to reduce costs, increase ...

Value of Canada Building Permits Hits High in 2007

Source: Statistics Canada
The value of building permits hit another record high in 2007, thanks to widespread strong gains across Canada and in both the residential and non-residential sectors.

Municipalities issued $74.3 billion worth of building permits in 2007, up 12.1% from the previous record of $66.3 billion in 2006.

While the gain in 2006 was largely fuelled by the tremendous demand in Western Canada, the increase in 2007 was more widespread across the country. Every province posted gains with the exception of Prince Edward Island and Nova Scotia.

In Quebec, the rate of growth accelerated from 5.2% in 2006 to 9.2% in 2007. In Ontario, the value ...

WinWholesale Opens Gulf Coast Winnelson

WinWholesale, Dayton, OH, has opened Gulf Coast Winnelson Company in Port Charlotte, FL, to provide plumbing contractors in five counties with a complete line of equipment, parts and accessories.

The counties are from Bradenton south to Marco Island and include Charlotte, Collier, Lee, Manatee and Sarasota. Gulf Coast is the second Winnelson company to open in 2008 in Florida. The other was Tampa Winnelson in January that serves the Tampa Bay area.

There are more than 460 WinWholesale locations across the U.S. in addition to more than 100 Noland Company branches, mainly in the southeast U.S. Noland Company is a wholly-owned subsidiary of WinWholesale.

WinWholesale Inc. is a supplier of domestic and industrial supplies and materials. In the group are companies ...

Rexnord Core Sales Growth at 11% in 3Q

Rexnord LLC, diversified producer of power transmission and water management products, reported sales for the third quarter were $449.1 million, an increase of 58.6% over the prior-year quarter. Consolidated core sales growth was 10.9%.
Power transmission sales were $334 million; core sales growth was 11.1%. Water management sales were $115.1 million; core sales growth was 10.2%.
For the first nine months of fiscal 2008, Rexnord had 9.5% core sales growth, with sales of $1.3 billion. PT sales in the first nine months were $969.7 million, an increase of 11.5%, driven by strength in power transmission end markets of mining, energy, aggregates and aerospace.
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