The 2020 Mid-Year Economic Update_long

Day: July 11, 2008

Ashland Inc. Agrees to Buy Hercules in $3.3B Deal

Global chemical company Ashland Inc. has agreed to acquire Hercules Inc., Wilmington, DE, in a deal valued at $3.3 billion. The transaction, which would create a major, global specialty chemicals company, is expected to close by the end of 2008.
 
With sales in more than 100 countries, Ashland is a manufacturer of specialty chemicals, a distributor of chemicals and plastics, and a provider of automotive lubricants, car-care products and quick-lube services.
 
Hercules is a supplier in specialty additives and ingredients that modify the physical properties of water-based systems and is a supplier of specialty chemicals to the pulp and paper industry.
 
Upon the transaction's close, Ashland will have pro forma combined revenue for the 12 months ended March ...

Fastenal Sales Grow 16.3% in 2Q

The Fastenal Company, Winona, MN, reported sales for second quarter ended June 30, 2008, were $604.2 million, up 16.3% over the prior-year period. Profit was up 26.4%.
 
Sales for the first six months, were $1.17 billion, an increase of 16% from the first six months of 2007.Profit was up 26.2%.
 
During the first six months, Fastenal opened 112 new stores, an increase of 5.2% since Dec. 31, 2007.
 
More details here. ...

Illinois Tool Works Buys TRYMER

Illinois Tool Works Inc., Glenview, IL, has acquired the TRYMER polyisocyanurate (PIR) rigid foam business. The TRYMER plant is based in LaPorte, TX.
 
The agreement also includes a provision for Dow to exclusively supply ITW with extruded polystyrene (XPS) pipe insulation billets for the mechanical insulation market.
 
TRYMER will be a wholly owned business unit of ITW and part of the company's industrial packaging group. TRYMER will maintain its brand name and operate as a separate business.
 
TRYMER is an ideal strategic fit in our growing global insulation business," said Larry Keiner, vice president and general manager of ITW Insulation Systems. "The acquisition of TRYMER and the opportunity to supply XPS will broaden our mechanical insulation ...