The 2020 Mid-Year Economic Update_long

Day: April 3, 2008

ERIKS Ups Offer for Econosto

Dutch seals distributor ERIKS has increased its bid for valve manufacturer Royal Econosto NV to €8.21 per share in cash from €7.80 after reports Gilde Buy Out Partners BV will increase its original bid to compete.
 
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 owns about 8% of Econosto shares.
 
According to the ERIKS press release, ERIKS has agreed to acquire 20.4% of the shares from a group of shareholders, including Janivo Beleggingen B.V., Gestion ...

Weyerhaeuser Explores Sale of OPC Technology

Weyerhaeuser Company, Federal Way, WA, is exploring the sale of its Oriented Polymer Composites (OPC) technology in Kent, WA.
 
Weyerhaeuser's proprietary OPC technology is supported by several U.S. and foreign patents and patent applications. This technology is used to generate an oriented, low density product with wood-like appearance from virgin and recycled plastics.
 
Weyerhaeuser's initial business plan for the technology platform focused on the high margin exterior trim market, with a secondary product offering in fencing. The company's research indicated the technology can also be used for decking and related products.
 
Closing Operations
Weyerhaeuser also announced it would indefinitely curtail" operations at its oriented strand ...

Bosch Rexroth Agrees to Buy Eppensteiner

Bosch Rexroth intends to acquire K. &H. Eppensteiner, the hydraulics equipment company based in Ketsch, Germany. An agreement was signed on March 31, 2008.

Eppensteiner develops, manufactures, and sells fluid filters for installation in hydraulic and lubrication oil systems. Its product portfolio also includes complete systems for purifying and recycling hydraulic and lubrication oil. With more than 200 associates, the company generated sales of roughly €28 million in 2007, mainly in Europe.

In acquiring Eppensteiner, we are taking an important step toward expanding our product portfolio to include accessory components. Fluid filters are an important building block in our strategy of further growth in the service and retrofitting business,"said Albert ...

Reliance Steel & Aluminum Acquires Dynamic Metals

Reliance Steel &Aluminum Co. has acquired Dynamic Metals International, LLC Bristol, CT.

Dynamic is a specialty metal distributor. Dynamic's 2007 revenues were $11 million. Dynamic will operate as a subsidiary of Service Steel Aerospace Corp., Tacoma, WA. This strategic acquisition expands our existing Service Steel Aerospace specialty product offerings,"said David H. Hannah, CEO.
 
Reliance Steel & Aluminum Co., Los Angeles, CA, is a metals service center company with more than 180 locations in 37 states and Belgium, Canada, China, South Korea and the United ...

Small Manufacturers Hit Harder by Global Conditions

Currency exchange rate pressures lead to an increase in the exit rates of very small manufacturers (fewer than 20 employees), finds a report released today by the Office of Advocacy of the U.S. Small Business Administration.
 
Interestingly, small manufacturers in high-tech industries are more insulated from international competitive pressures than those in other sectors," said Robert Feinberg, professor at American University and author of the paper.
 
The study, The Impact of International Competition on Small-Firm Exit in U.S. Manufacturing, focused on 1990 to 2004. The author noted little variation in the overall exit rate of small manufacturers over time, but a reasonable amount of variation across firm size and industry.
 
Factors affecting exit ...