6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060
Toll free (888) 742-5060
Inc., Des Plaines, IL,
announced that its Lagasse, Inc. subsidiary signed a definitive
purchase agreement with the shareholders of Sweet Paper Sales Corp. and with
Sweet Paper Sales Group, Hialeah, FL. The Sweet Paper companies
are privately held, with combined annual sales of approximately $250 million.
Sweet Paper currently offers 10,000 janitorial/sanitation, paper and foodservice
products to approximately 5,000 distributors in 23 states. See article here.
Automotive supplier Collins
& Aikman Corporation, Troy, MI, said that it and substantially all
of its domestic subsidiaries have filed voluntary petitions to reorganize under
Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Eastern
District of Michigan. The company said the Chapter 11 filing was precipitated by
mounting liquidity issues and the need for immediate cash to fund
operations. See article here.
Cleveland, OH, has acquired the hydraulic distribution and service assets of
mobile hydraulics distributor Kuiken Hytrans BV, a subsidiary
of Kuiken NV, located in Lemmer, The Netherlands. With 15 employees and annual
revenues of approximately $6.3 million, Kuiken Hytrans specializes in the
distribution and service of mobile hydraulic systems and components and will be
integrated with Parker Hannifin BV, The Netherlands, Parker Hannifin NV/SA in
Belgium and Parker Hannifin GmbH & Co KG in Germany, which are part of
Parker's Sales Operations. See article here.
Inc., Austin, TX, a
provider of vertical ERP solutions, has acquired substantially all of the assets
of The Systems House Inc., a technology
solutions provider for distributors primarily in the automotive aftermarket and
office products industries. The acquisition provides next-generation technology
for Activant's customers in the automotive aftermarket and wholesale
distribution industries, key vertical segments in Activant's vision for
growth. See article here.
Bristol, PA, a provider of maintenance, repair and operating supply chain
management services, reported revenues for the first quarter ended Mar. 31, 2005
decreased $3.0 million or 9.4% to $29.0 million from $32.0 million for the three
months in the same period last year. The company reported a net loss of $1.6
million in the first quarter of 2005 compared to a net loss of $0.5 million in
the same quarter of 2004. At Mar. 31, 2005, the company had $28.9 million of
cash on hand. See article here.
Company Limited plans
to establish a joint venture with Taiwan Fu Hsing Industrial
Co. Ltd., a manufacturer of mechanical door locks based in Kaohsiung,
Taiwan. Under the terms of the agreement, Ingersoll-Rand will acquire a majority
interest in Taiwan Fu Hsing's mechanical door lock manufacturing subsidiaries in
China and Malaysia and make a minority equity investment in Taiwan Fu Hsing. The
transaction is subject to government approvals and requires the approval of
shareholders of Taiwan Fu Hsing. Assuming these conditions are met, the joint
venture is expected to be established in the third quarter of 2005. See article here.
Cleveland, OH, has received a 5-year contract under Schedule 51V, Hardware Store
Program with the General Services Administration (GSA) Center for Facilities
Maintenance and Hardware. The contract has provisions to allow for three 5-year
option periods to be exercised over a 20-year period. See article here.
Bristol, PA, has appointed Philip D. Flynt as Vice President, Chief Financial
Officer and Treasurer of SDI. He will assume his new role with SDI effective on
May 31, and will replace Richard S. Martin, who is resigning as of that date as
Vice President, Chief Financial Officer and Treasurer of SDI.