The 2020 Mid-Year Economic Update_long

Day: May 8, 2008

Illinois Tool Works to Buy Enodis for $2.3B

Illinois Tool Works Inc., Glenview, IL, has agreed to buy commercial foodservice equipment supplier Enodis for $2.1 billion in cash plus the assumption of debt, bringing the market value to $2.3 billion.
 
Enodis had reported revenues of $1.6 billion for fiscal year ended Sept. 30, 2007. The company's product line includes food equipment mainly for fast food restaurants, institutions and supermarket/grocery stores. Major products include cooking equipment, ice and beverage dispensing equipment, and stand-alone refrigeration as well as refrigerated display cases. Enodis' brand names include Frymaster, Garland, Lincoln, Scotsman, Convotherm and Kysor Warren.
 
ITW's existing food equipment businesses had revenues of $1.9 billion in 2007 and feature products primarily ...

March Wholesale Revenues Up 1.6% from February

The February preliminary estimate was revised upward $0.9 billion or 0.2 percent.
 
March sales of durable goods were up 2.3 percent from last month and were up 4.8 percent from a year ago. Compared to last month, motor vehicle and motor vehicle parts and supplies were up 4.5 percent and sales of metals and minerals, except petroleum, were up 3.5 percent. Sales of nondurable goods were up 1.0 percent from last month and were up 20.1 percent from last year.
 
Sales of farm product raw materials were up 9.4 percent from last month and sales of beer, wine, and distilled alcoholic beverages were up 2.7 percent.
 
Inventories. Total inventories of merchant wholesalers, except manufacturers'sales branches and offices, after adjustment for seasonal ...

Colfax Corp. Now Trading On NYSE

Colfax Corp., Richmond, VA, manufacturer in fluid-handling solutions, announced that its common stock has begun trading on the New York Stock Exchange under the ticker symbol CFX"following its initial public offering.
 
"The Colfax associates have worked hard to build a company that sets the standard in critical fluid-handling solutions around the world,"said John A. Young, president and CEO of Colfax. "I am proud of the accomplishments that have led us to this historic day in Colfax's 12-year history. It is an honor to be a NYSE-traded company."
 
Colfax Corp. manufactures positive displacement industrial pumps and valves used in global oil &gas, power generation, marine, naval and a variety of other industrial applications. Key product brands include, Allweiler, ...

Haydon Enterprises Buys Kerk Motion Products

Waterbury, CT-based Haydon Enterprises, a Harbour Group company, has acquired Kerk Motion Products, Inc.
 
Kerk, Hollis, NH, designs and manufactures a line of high-precision motion control products that include lead-screw assemblies, slides, linear rails, and actuators.
 
Haydon is a designer and manufacturer of fractional horsepower linear actuators, lead screw assemblies, rotary stepper motors and hermetically sealed switches for niche- market applications. The company, founded in 1951, operates 11 facilities on three continents.
 
Haydon is part of Harbour Group, a privately owned company based in St. Louis, MO. Harbour Group and its operating companies are engaged in the manufacture and distribution of a wide variety of consumer and industrial ...