Applied Industrial Technologies Ltd., the Canadian subsidiary of Applied Industrial Technologies, Cleveland, OH, has completed the acquisition of Groupe GLM, a privately held distributor headquartered in Baie-Comeau, Quebec. Groupe GLM encompasses five companies under the names GLM, PV Hydraulique, Pro Hydraulique, Mecanique Industrielle and Reparations Maritimes. These companies operate five locations in Northern Quebec, distributing bearings, power transmission and fluid power products. Sales for the company are approximately US$20.5 million. href="http://www.mdm.com/Admin/issues/35_3/news/2515-1.html" target=_blank>More...
Parker Hannifin Corporation, Cleveland, OH, has acquired Bayside Controls, Inc., Port ...
Parker Hannifin Corporation,Cleveland, OH, has acquired Bayside Controls, Inc., Port Washington, NY, a manufacturer of integrated solutions for industrial and precision automation applications. Terms of the deal were not disclosed. Bayside will be integrated with Parker Automation Group's Electromechanical Automation Division. Bayside Controls has annual revenues of approximately $25 million. The company employs 139 people and has operations in the United States, Germany and Singapore. The acquisition is expected to be accretive to earnings in calendar year 2005.
With a broad technology base across mechanical and electrical disciplines, Bayside Controls is a unique manufacturer providing electromechanical automation subsystems that combine servo motors and controls, ...
Atlas Copco-owned Chicago Pneumatic Tool Company has agreed to acquire the assets of GSE tech-motive tool from SPX Corporation. GSE tech-motive tool has annual sales of approximately $24 million and 82 employees and contract workers. The purchase price was not disclosed.
GSE tech-motive tool, based inMichigan, manufactures and distributes specialized tightening solutions for customers with safety critical assembly applications, primarily in the motor vehicle industry. In addition to its main U.S. business, one third of total revenues is made outside the country. See also www.gsetechmotive.com
GSE tech-motive tool will be integrated into the Chicago Pneumatic (CP) division, within Atlas Copco's Industrial ...
The Timken Company,Canton, OH, reported 2004 sales of $4.5 billion, a 19 percent increase from the prior year. Timken achieved 2004 net income of $135.7 million, up from $36.5 million or $0.44 per diluted share in 2003. Adjusted net income, which excludes the impact of special items, was $122.3 million in 2004, compared to $56.0 million in 2003.
"The strategic actions we have taken to improve our competitiveness enabled us to capitalize on the global industrial recovery and deliver improved performance," said James W. Griffith, president and CEO. "We achieved record sales and strong earnings growth over last year despite unprecedented high raw material costs. The rapid improvement in industrial market demand for our products that buoyed our performance in 2004 is ...
Gardner Denver,Quincy, IL, has acquired XCEED Compressed Air Control Solutions, formerly of Honeywell Automation & Control Solutions. The acquisition strengthens Gardner Denver's portfolio of products and services designed to provide customers with ''Smarter Solutions'' focused on customers' entire air systems. This acquisition continues to strengthen Gardner Denver's global portfolio of products and services including sophisticated energy management, compressor sequencing and remote monitoring for compressed air systems.
''The XCEED Compressed Air Solutions blend seamlessly into Gardner Denver's Smarter Solutions product and services framework, thereby allowing our customers to optimize their total costs for compressed air systems in their plants,'' said Tim Carpenter, ...
Infor Global Solutions has agreed to pay $347 million to acquire MAPICS, a manufacturing software company with about 4,500 customers. Infor focuses exclusively on delivering enterprise resource planning and supply chain solutions that are designed specifically for the manufacturing and distribution industries. By adding MAPICS' additional scale and reach, Infor plans to expand its manufacturing solutions and increase its ability to compete globally. The combined company will have more than 17,500 customers in 70 countries.
Infor is building vertical market leadership by assembling proven, best-of-breed solutions and deep industry knowledge," said Jim Schaper, Infor's chairman and CEO. "MAPICS is a respected enterprise software provider that has been serving the ...
Early prospects for the manufacturing sector to continue its expansion in 2005 are very promising, according to the quarterly Manufacturers Alliance/MAPI Survey on the Business Outlook (ER-580e). The December 2004 composite index of 70, while dropping slightly from 75 in September 2004, nevertheless signals strength in the manufacturing sector and remains high relative to an historical trend over the past 13 years.
A composite business index above 50 indicates that overall manufacturing activity is expected to increase over the next three months. It should be noted, however, that the index measures the direction of change rather than the absolute strength of activity in manufacturing.
"In absolute terms, the individual indexes remain very high, indicating that ...
Kennametal Inc.,Latrobe, PA, has signed a definitive agreement to purchase Extrude Hone Corporation, Irwin, PA, for approximately $137 million, net of acquired cash and estimated direct acquisition costs. Founded in 1951, Extrude Hone Corp. supplies engineered component process technology to customers in a variety of industries around the world. Extrude Hone's major manufacturing locations are in the U.S., Germany, and Ireland. The firm's processes and materials, which focus on component deburring, polishing, and producing controlled radii, are designed to improve the customer's performance in both their manufacturing processes and end products.
"The acquisition of Extrude Hone Corp. is a solid fit with our long term growth plans for Kennametal," commented Executive ...
Airgas, Inc., Radnor, PA, the largest U.S. distributor of industrial, medical and specialty gases, welding, safety and related products, reported third quarter sales increased 35% to $612 million, reflecting continued same-store sales growth, the consolidation of National Welders Supply Company (a joint venture affiliate), as well as acquisitions. National Welders contributed sales of $43 million; excluding this amount, sales grew 26%.
Total same-store sales were up 9% compared to the same quarter a year ago, with gas and rent up 5% and hardgoods up 14%. These results reflect continued improvement in manufacturing and other industrial market segments. Net earnings for the third quarter ended Dec. 31, 2004 grew 10% to $23 million, compared to $20.9 million in the same period a year ...
W.W. Grainger,Chicago, IL, reported sales for the year ended Dec. 31, 2004 of $5.05 billion were up 8 percent versus 2003. Net earnings for the year were $287 million, up 26 percent as compared to $227 million in 2003. Sales in the 2004 fourth quarter were $1.3 billion, up 10 percent versus the prior year fourth quarter. The 2004 quarter had one less sales day than the 2003 quarter. Sales on a daily basis were up 11 percent. Net earnings of $90 million were up 46 percent versus $62 million in the 2003 fourth quarter.
Grainger's branch-based business ended the year with sales of $4.5 billion. Lab Safety Supply had sales of $334.6 million, while the integrated supply unit, which the company is discontinuing, was essentially flat at $211 million. "It was an ...
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