SKF has acquired Twentieth Century Machine Co., TCM, a US manufacturer of ground ball screws. The acquisition was effective December 31, 2002.
TCM has 70 employees and sales in 2002 were 65 MSEK. TCM, is located in the Detroit area in Michigan, USA and serves primarily the machine tool market in USA and Canada. SKF will now be able to offer complete ground ball screw packages and solutions locally made in North America.
TCM will become part of and strengthen the SKF Linear Motion & Precision Technologies business unit, says Christer Gyberg, President of SKF Industrial Division.
In addition to design and manufacturing expertise, TCM also offers multi-brand ball screw repair, which enhances our recently launched full-service capabilities.
S.B. Simpson Group Inc., Burlington, ON, has acquired another Burlington based distributor, Mark Industrial Ltd. The transaction was completed on Dec. 9, 2002.
Mark Industrial is a bandsaw blade & abrasive chop saw wheel specialist. All of Mark Industrial's staff and equipment have been relocated to the S.B. Simpson facility in Burlington where they will continue to service the Mark customers.
The acquisition greatly enhances S.B. Simpson's competitive position in the Ontario bandsaw blade supply market. With this addition, S.B. Simpson will now be welding up to 2" wide bandsaw blades in-house for quick delivery throughout their trading area.
This is S.B. Simpson Group's sixth acquisition in six years as they continue to expand their geographic coverage and ...
The National Association of Wholesaler-Distributors, Washington, DC, enthusiastically endorsed the economic growth and jobs creation initiative announced by the President before the Economic Club of Chicago, and urged Congress to take quick action on the plan.
"This is exactly the right plan for the economy," said Dirk Van Dongen, NAW president. "This program will help everyone participate in the economic recovery, both business - large and small - and individuals. The President is to be applauded for taking this strong and decisive initiative. We need to restore both business and consumer confidence in the economy, and the President's proposal is a significant step in the right direction."
"Given the slow pace of the recovery to date, there is no time to waste," added ...
The Timken Company, Canton, OH, has been notified by the U.S. Treasury Department it will be receiving payment under the U.S. Continued Dumping and Subsidy Offset Act (CDSOA). The amount Timken is to receive is approximately $54 million.
The CDSOA provides for distribution of monies finally collected by the U.S. Customs Service from antidumping cases to qualifying domestic producers where the domestic producers have continued to invest in their technology, equipment and people. The Timken Company is one of many companies that have been notified it will be receiving this payment. It is the second year the company has received a payment under CDSOA.
"We applaud Congress and the administration for their continued support of CDSOA," said James W. Griffith, president and CEO of ...
Illinois Tool Works Inc. Glenview, IL, reported an operating revenue increase of four percent for the three months ended Nov. 30, 2002.
Operating revenues for the three month period consisted of two percent growth from base businesses and a two percent contribution from currency translation. The company's top line performance continued to reflect mixed end market activity for both the longer lead-time specialty systems as well as the short lead-time North American engineered components businesses.
On a manufacturing segment basis, the company's three month moving average percentage change for operating revenues, comprised of base business, is provided below.
(% change for 3 months ended November 2002 versus prior year period)
October U.S. machine tool consumption totaled $186.93 million, according to AMTDA, the American Machine Tool Distributors'Association and AMT - The Association For Manufacturing Technology. This total, as reported by companies participating in the USMTC program, was level with September and off 0.6% from the total of $188.06 million reported for October 2001. With a year-to date total of $1,724.34 million, 2002 is down 26.6% compared to the same period in 2001.
These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.
"Reports noting the current contraction of the manufacturing economy and excess production capacity for durable goods underscore the need for U.S. manufacturers to adapt to '
Summit Electric Supply, Albuquerque, NM, has reached a definitive agreement to acquire the domestic operating assets of Warren Electric Group.
This acquisition will nearly double the number of Summit locations and bring the company into the Gulf Coast area of Texas, including Houston, La Porte, Beaumont, Clute, Corpus Christi and Harlingen, as well as locations in New Orleans, Lafayette, Baton Rouge and Lake Charles, Louisiana where Summit had not previously operated. Summit will continue business relationships with most of Warren's vendor partners and is looking forward to servicing Warren's many customers. Summit will continue to use the Warren name for an undetermined period of time as they transition the operation.
'The Warren acquisition follows closely on the heels of ...
Economic activity in the manufacturing sector declined for the third consecutive month. The overall economy grew for the 13th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business.
The report was issued today by Norbert J. Ore, C.P.M., chair of the Institute for Supply Managementﾙ Manufacturing Business Survey Committee and group director, strategic sourcing and procurement, Georgia-Pacific Corporation. "The manufacturing sector failed to grow in November. While the Production Index strengthened, the New Orders Index softened. The PMI has averaged 49.6 percent for the past five months. The sector continues to need drivers that will help end the stagnation."
ISM's Backlog of Orders Index indicates that order backlogs ...
Airgas, Inc., Radnor, PA, has acquired Welding Metals, Inc., a Detroit-based independent distributor of gases and welding supplies with annual sales of about $10 million. The acquisition includes four locations, which will significantly improve the Airgas market presence in the Detroit area.
The acquired locations include Madison Heights, doing business as Welding Metals; Roseville, doing business as Parkin Welding; and Rochester Hills and Lapeer, both doing business as Avon Welding. The locations are now part of Airgas Great Lakes, which is headquartered in Bay City, MI, and is one of 12 regional companies within Airgas, the nation's largest distributor of gases, welding supplies and related products.
WMI has served Detroit and surrounding markets since 1921 and has ...
At their recent North American Meeting in Nashville, TN, Affiliated Distributors introduced "A-D Services Group, Inc.", a newly formed subsidiary created in response to members' concerns over rising health insurance costs that have cut deeply into operating costs and profitability.
The program offers: (1) immediate cost reduction, (2) additional cost reduction or cost avoidance over time, (3) one-stop shopping for health, life and other insurances, and (4) the ability to leverage A-D purchasing power.
A-D Services Group, Inc. offers both Affiliates and Suppliers self-funded or partially self-funded Health Insurance, Dental and Vision insurance, Life and Accidental Death & Dismemberment, Long and Short-Term Disability, Flexible Spending Accounts and more. ...