The 2020 Mid-Year Economic Update_long

Day: November 17, 2008

Diamond Chain Enters Joint Venture With KMC

Power transmission manufacturer Diamond Chain Co., Indianapolis, IN, has entered into a joint venture with China-based KMC, a roller chain supplier and longtime strategic partner of Diamond Chain.
The joint venture, Diamond (Weifang) Power Transmission Company, will be based in Weifang, Shangdong Province, China, and will expand Diamond Chain's global operations and position for growth around the world. The companies initially will consolidate manufacturing of Diamond's Sapphire brand and ISO standard product lines in Weifang.
Diamond Chain Company is a division of Amsted ...

Industrial Production Up 1.3% in October

Industrial production increased 1.3% in October after a downwardly revised decline of 3.7% in September, the Federal Reserve reported. The revision to September output resulted, in part, from a larger estimate of the impact of Hurricanes Gustav and Ike on the chemical industry.
Manufacturing production, which dropped 3.7% in September, rose 0.6% in October. The output of mines advanced 6.1%, as most crude oil and natural gas operations in the Gulf of Mexico were brought back online after the hurricanes. The output of utilities rose 0.4%.
Industrial production in September and October was substantially affected by the hurricanes and a strike in the commercial aircraft industry. Excluding these special factors, total industrial production is estimated to have ...

Jergens Acquires Bock

Jergens, Inc., Cleveland, OH, a manufacturer of standard tooling components, vises, and other workholding equipment, has acquired Bock Workholding Inc., Ford City, PA, a manufacturer and distributor of workholding solutions designed to improve the productivity of vertical and horizontal machining centers and flexible manufacturing cells.
Bock's and Jergens'combined product lines are a perfect fit,"says Sean Stapulionis, Jergens'general manager, Tooling and Components Division. "It is a wonderful opportunity to broaden our offerings in vises and quick-change ...