The 2020 Mid-Year Economic Update_long

Day: March 31, 2008

Ryan Will Be CEO of Grainger as of June 1

James T. Ryan, Grainger's president, will add the title of CEO effective June 1, 2008. He will succeed Richard L. Keyser, who will remain with the Chicago, IL-based facilities maintenance distributor as chairman of the board.
 
Ryan was named Chief Operating Officer and appointed to the Board of Directors in February 2007. He became president of Grainger in 2006.
 
Ryan has served Grainger in increasingly responsible roles in virtually every part of the company since joining the company in 1980. He graduated from Miami University, Oxford, OH, in 1980 with a Bachelor of Science degree in business. He also earned a master's degree in business administration with distinction from DePaul University in Chicago.
 
Grainger, with 2007 sales of $6.4 billion, is a ...

HD Supply Waterworks Acquires D&M Fabrication

HD Supply Waterworks, an HD Supply business that distributes a line of water, sewer, fire protection and storm drain products to serve contractors and municipalities in the water, wastewater, storm and fire protection markets, has finalized the purchase of D&M Fabrication, Inc., Lodi, CA.
 
D&M Fabrication, Inc. specializes in fabricating fire protection systems for distributors and contractors who design, sell and/or install systems for end users.
 
D&M Fabrication has an exceptional, best-in-class reputation for high-quality fabricated fire protection systems and has been a partner of HD Supply Waterworks for nearly a decade," said HD Supply Waterworks Regional Vice President Chuck Reed. "This acquisition is extremely important for us because it will solidify our ...

ERIKS Makes Counteroffer for Econosto

ERIKS group nv has made an offer for valve manufacturer Royal Econosto N.V. for €7.80 in cash per share, or €126 million (about US$200 million with current exchange rates). The bid counters an offer from buyout firm Gilde Buy Out Partners BV of €7.25 a share.
 
According to a Bloomberg report, Gilde has five days to make a counteroffer.
 
Econosto has two divisions: flow and sealing technology (the production, sale and distribution of valves, gaskets, sealing products, hoses, couplings, instrumentation systems, chemical seals, etc.); and Comfort and Environmental Technology (production and sale of domestic and industrial HVAC and energy systems and services.)
 
ERIKS supports Econosto's international growth strategy and the proposed ...

Rexel CEO: Hagemeyer Deal Makes Rexel Stronger

Now that Rexel has completed its purchase of Dutch electrical distributor Hagemeyer NV, the next step in the deal -to sell Hagemeyer's North American, Asian-Pacific and some European assets to competitor Sonepar -will take place in the next six months, Rexel CEO Jean-Charles Pauze said.
 
Pauze was commenting in an online video interview, posted by the company through the EuroBusiness Media site. (Interview, Transcript)
 
Pauze said the combination of Rexel and Hagemeyer is "historic." "Not only are we reinforcing our position worldwide, but we are becoming a very strong No. 2 in ...

Tennant Company Buys Alfa

Tennant Company, Minneapolis, MN, has completed its acquisition of Sociedade Alfa Ltda., maker of the Alfa brand commercial cleaning machines.
 
Sociedade Alfa Ltda., Sao Paulo, Brazil, with 2007 revenues of roughly $9 million, manufactures and sells commercial cleaning equipment that includes commercial ride-on scrubbers, ride-on sweepers and walk-behind scrubbers.
 
This is the second acquisition announced by Tennant Company in 2008. The company recently announced its acquisition of Applied Sweepers, maker of Green Machines® brand outdoor cleaning equipment, based in Falkirk, Scotland.
 
Tennant has manufacturing operations in Minneapolis, MN; Holland, MI; Uden, The Netherlands; Northampton, United Kingdom; and Shanghai, China; and sells products ...