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Warranty wars: In other power tool news, Milwaukee Electric Tool Corp. announced a new five-year limited tool warranty effective on all products made as of Oct. 1. Milwaukee will repair any defective tool within five years from the date of purchase. In addition, Milwaukee provides a one-year, free maintenance program consisting of electrical safety checks and performance tests at Milwaukee service/sales support branches. The new warranty covers all tools sold in the U.S., Canada and Mexico. At its discretion, Milwaukee will repair or replace, without charge, any tool, including battery chargers, which examination proves to be defective in material or workmanship from five years after the date of purchase. Battery packs, flashlights and radios are warranted for one year from the date of purchase.
On an introductory basis, RIDGID announced a limited lifetime service warranty on all RIDGID handheld corded and cordless, bench and stationary power tool purchases made between Sept. 1 and Dec. 31, 2003. The warranty includes lifetime free service on batteries, brushes, chucks, cords, switches and normal wear items. In order to redeem the warranty customers need to bring their receipt and tool to their local service center authorized to repair RIDGID power tools. RIDGID professional power tools also carry a 90-day satisfaction guarantee and a three-year warranty.
Hyde Manufacturing Company, Southbridge, MA, has acquired A. Richard, Ltd., Berthierville, Quebec. Both companies have been in business for more than 100 years and are manufacturers in the U.S. and Canada of hand tools for the paint, drywall, flooring, masonry and industrial knife markets. No major changes to either company are expected.
JCube Industries, LLC, Oak Brook, IL, has acquired the assets of DJB Liberty, Inc., Perris CA. DJB Liberty is a U.S. manufacturer of water hose reels and accessories for the consumer and industrial user. JCube Industries will continue to use DJB Liberty as its primary trademark and brand name. Joseph C. Petersen, Jr. will assume the role of president and managing partner, where he will focus on sales, marketing and product development.
Motion Industries, Birmingham, AL, posted sales of $557.0 million in the third quarter ended Sept. 30, 2003, down 2.5% from $571.3 million in the third quarter of 2002. Operating profits were $34.2 million in the current third quarter, down 12.2% from last year's $39.0 million in Q3. Sales for the nine months were $1.693 billion, down slightly from $1.695 billion recorded in the first nine months of 2002. Operating profits for the first nine months were $110.6 million, down 12.2% from operating profits of $126.0 million in the comparable 2002 period.
Kennametal Inc., Latrobe, PA, reported fiscal year 2004 first quarter sales of $445 million, 10% above the prior year, driven by the Widia acquisition. Reported net income was $8.8 million against net income of $10.8 million in the same quarter last year. J&L Industrial Supply reported 2003 sales of 48,1 million, a 1% decrease from 2002 sales of $48.6 million, and Full Service Supply reported sales of $31.7, down from last year's reported $31.8 million.
Barnes Group Inc., Bristol, CT, reported net sales for the third quarter ended Sept. 30 were $222.2 million, up 13 percent from $196.8 million in the third quarter of 2002. The company reported a 40 percent