Diversified industrial manufacturer Eaton Corp., Cleveland, OH, has completed its acquisition of PerkinElmer Inc.'s aerospace division, which in 2004 had $220 million in revenues, or 13% of PerkinElmer's total sales.
PerkinElmer's aerospace division is a provider of sealing and pneumatic systems for large commercial aircraft and regional jets. It also produces other products for aircraft engines, fuel systems, cabin air and de-icing systems, and hydraulic systems, as well as industrial equipment. Eaton Corp. had sales of $9.8 billion in ...
Danaher Corp., Washington, D.C., said its subsidiary Fluke Electronics Corp. has agreed to buy Visual Networks Inc. for $75 million in cash, or $1.83 per share. Visual Networks, Rockville, MD, provides network test and application performance management solutions.
Danaher Corp. is a leading manufacturer of professional instrumentation, industrial technologies, and tools and components.
The merger agreement, which has been unanimously approved by Visual Networks' board of directors, is subject to Visual Networks' shareholder approval, regulatory approvals and other customary ...
Beacon Roofing Supply Inc., Peabody, MA, has purchased Easton Wholesale Inc., a $9.3 million distributor of mostly residential building products in Easton, MD. The acquisition is the fourth this year for Beacon, which had $700 million in sales in 2004.
Beacon is a distributor of roofing materials and complementary building products operating 138 branches in 29 states in the U.S. and Eastern Canada.
Earlier this year, Beacon purchased Shelter Distribution Inc. for $170.3 million in cash. Shelter, a distributor of roofing and other building products in McKinney, TX, had $248 million in sales in 2004. Shelter has 50 branches in 15 states in the Midwest, Central Plains and Southwest regions.
Also this year, Beacon purchased JGA Corp., Atlanta, GA, a $74 ...
Global steel pipe and fittings distributor Edgen Corp., Baton Rouge, LA, ($200 million in annual revenues) will buy Murray International Metals Limited, Edinburgh, Scotland, ($173 million in annual revenues) for an undisclosed amount.
Upon completion of the purchase, a new holding company formed by Edgen's shareholders called Edgen/Murray LP will own all of Edgen and MIM. Edgen will also purchase the equity interests of Murray International Metals Inc., MIM's U.S. subsidiary.
Edgen/Murray LP will be owned by Edgen's majority shareholder Jefferies Capital Partners, the management teams of Edgen and MIM, and Murray International Holdings.
The transactions are scheduled to close before the end of the fourth quarter.
Metals service center O'Neal Steel Inc., Birmingham, AL, will buy TW Metals Inc., Exton, PN, for an undisclosed amount.
O'Neal, which is family-owned, will operate TW Metals as a stand-alone company led by its current management, including President Jack Elrod.
TW Metals is the product of the January 1998 merger between Tubesales Inc. and Williams & Company Inc. Tubesales was founded in 1946 as a specialty alloy tubing and long products service center focused on the aerospace market. Williams & Company was founded in 1907 as an industrial customer-oriented service center largely in the distribution of carbon plate and similar commodity products.
Today, TW Metals is a global service center focused on specialty metals long products, including ...
Diversified industrial manufacturer Parker Hannifin Corp., Mayfield Heights, OH, plans to finish its acquisition of U.K.-based Domnick Hunter Group plc in December by buying its remaining untendered shares. The total purchase comes to about $450 million, or 700 pence per share.
The recent announcement comes after a months-long bidding war between Parker Hannifin and Eaton Corp., Cleveland, OH, for the industrial filtration company. Parker agreed to pay 700 pence per share in September; Eaton had offered 690 pence but dropped out of the bidding war in October.
Domnick Hunter had 2004 revenues of $280 million. It specializes in the design and manufacture of filtration, separation and purification products and technologies. The ...
The serious shortage of qualified employees that a vast majority of U.S. manufacturers are now experiencing is taking an increasingly negative toll on America's ability to compete in the global economy, according to a survey report recently released by the National Association of Manufacturers, the Manufacturing Institute and Deloitte Consulting LLP.
More than 80 percent of manufacturers surveyed are experiencing an overall shortage of qualified workers, the survey found. Qualified skilled production employees seem to be the shortest in supply, with 90 percent of manufacturers reporting a moderate to severe shortage of machinists, operators, craft workers, distributors and technicians. Engineers and scientists are also in short supply, with 60% of respondents reporting ...
Plumbing and heating distributor Wolseley plc announced today it is acquiring two more industrial distributors for a total of $6.8 million in cash: one in the U.S. and the other in France.
On Nov. 14, Wolseley subsidiary Ferguson acquired HVAC distributor Mobile Supply Company Inc., Mobile, AL, from owners Mr. and Mrs. Raymond Stallings. Mobile has branches in Mobile and Pensacola, FL, and had sales of $12.3 million in 2004.
On Nov. 18, PBM signed an agreement to acquire MSCO from Jean-Marie Le Sellin, Annie Le Sellin, Michel Nadaud and Annie Nadaud. The deal is expected to be completed by Dec. 1, 2005. MSCO is a generalist builders' merchant based in the southwest of France with two branches. MSCO had sales of $4.37 million in ...
3M Co. announced it will merge its industrial and transportation units, effective Jan. 1, 2006.
The new combined unit will be headed by Hak Cheol Shin, currently in charge of the industrial unit. The decision leverages common markets and customers, as well as common channels, technologies, manufacturing base and selling processes, according to press release.
The formation of the Industrial and Transportation Business coincides with Harold J. Wiens' announced retirement. Wiens is executive vice president for transportation business.
3M is a diversified manufacturer. Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti are all trademarks of ...
Wolseley plc's John Whybrow told shareholders at this week's annual meeting that he is optimistic of the progress the London-based company - which owns HVAC supplier Ferguson in the U.S. - has made this year.
There has been no significant change in the market conditions affecting the group's businesses since the preliminary results announcement," he said.
Whysbrow said the group's U.S. businesses have "made an excellent start to the year" and continue to achieve strong organic growth. He said the housing market remains strong, but that the number of housing starts may reduce as a result of higher interest rates.
"The robust U.S. economy should present further opportunities for organic growth," he said. "The improvement in ...