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Construction spending in June 2009 was at a seasonally adjusted annual rate of $965.7 billion, 0.3% above the revised May estimate. The June figure is 10.2% below the June 2008 estimate of $1,075.6 billion.
During the first six months of this year, construction spending amounted to $455.6 billion, 11.4% below the $514.4 billion for the same period in 2008.
Spending on private construction was at a seasonally adjusted annual rate of $643.9 billion, 0.1% below the revised May estimate. Residential construction was at a seasonally adjusted annual rate of $246.1 billion in June, 0.5% above the revised May estimate of $244.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $397.9 billion in June, 0.5% below May.
In June, the estimated seasonally ...
During the first six months of this year, construction spending amounted to $455.6 billion, 11.4% below the $514.4 billion for the same period in 2008.
Spending on private construction was at a seasonally adjusted annual rate of $643.9 billion, 0.1% below the revised May estimate. Residential construction was at a seasonally adjusted annual rate of $246.1 billion in June, 0.5% above the revised May estimate of $244.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $397.9 billion in June, 0.5% below May.
In June, the estimated seasonally ...
The European Commission has granted clearance for the proposed acquisition of Dutch distributor ERIKS by SHV Alkmaar B.V., a subsidiary of SHV Holdings N.V. The company would buy ERIKS for $48 a share, according to the latest offer announcement.
ERIKS is a distributor of power transmission and related products. It had sales of EUR $1.1 billion in 2008 with 5,138 employees. More information at www.eriks.com.
SHV is a privately held holding company of a conglomerate active in LPG trade and distribution, cash and carry wholesale, heavy lifting and transport activities, private equity, investing in the exploration, development and production of oil and gas, and renewable energy. It is in 45 companies and employs 38,000 people. More ...
ERIKS is a distributor of power transmission and related products. It had sales of EUR $1.1 billion in 2008 with 5,138 employees. More information at www.eriks.com.
SHV is a privately held holding company of a conglomerate active in LPG trade and distribution, cash and carry wholesale, heavy lifting and transport activities, private equity, investing in the exploration, development and production of oil and gas, and renewable energy. It is in 45 companies and employs 38,000 people. More ...
Barnes Group Inc., Bristol, CT, a diversified global manufacturer and logistical services company, reported sales for the second quarter 2009 were $255.2 million, down 33% from second quarter 2008. Profit declined 68.8% to $10.4 million.
For the six months ended June 30, sales were $517.4 million, down 32.2% from the prior year period. Profit declined 66.8% to $21.9 million.
"The continued economic weakness throughout the second quarter had a substantial impact on our businesses, particularly our transportation and industrial manufacturing businesses," said Gregory F. Milzcik, president and CEO. "As we have done since the beginning of the economic downturn, we continue to focus on managing our business prudently by adjusting our cost structure, driving increased productivity in our ...
For the six months ended June 30, sales were $517.4 million, down 32.2% from the prior year period. Profit declined 66.8% to $21.9 million.
"The continued economic weakness throughout the second quarter had a substantial impact on our businesses, particularly our transportation and industrial manufacturing businesses," said Gregory F. Milzcik, president and CEO. "As we have done since the beginning of the economic downturn, we continue to focus on managing our business prudently by adjusting our cost structure, driving increased productivity in our ...
NetSuite Inc., San Mateo, CA, an on-demand, integrated business management software suites, reported sales for the second quarter 2009 were $40.3 million, up 10% over the second quarter of 2008. The company recorded a loss of $5.0 million for the period, compared to a loss of $3.1 million a year ago.
Quarterly revenue from the Americas was $32.5 million, while revenue from international regions was $7.8 ...
Quarterly revenue from the Americas was $32.5 million, while revenue from international regions was $7.8 ...
Here's a short but interesting article on a California floor products distributor who was about to move elsewhere when a town, recognizing the value the company brought to the community, made it more affordable to stay put.
As a result of the town's moves, the distributor was able to push forward on a DC expansion as it works to consolidate its warehousing and logistics operations. ...
Manufacturing contracted in July, according to the latest Manufacturing ISM Report on Business. However, the decline in manufacturing was slower in July when compared to June, as the more leading components of the PMI - the New Orders and Production Indexes - rose significantly above 50%, thus setting an expectation for future growth in the sector.
The Employment and Inventories Indexes are still contracting, but the rate is slowing and they are moving in the right direction, the report said. The New Export Orders Index shows growth following nine consecutive months of decline, suggesting that the global economy is recovering.
Six of the 18 manufacturing industries reported growth in July. These industries - listed in order - are: Nonmetallic Mineral Products; Paper ...
The Employment and Inventories Indexes are still contracting, but the rate is slowing and they are moving in the right direction, the report said. The New Export Orders Index shows growth following nine consecutive months of decline, suggesting that the global economy is recovering.
Six of the 18 manufacturing industries reported growth in July. These industries - listed in order - are: Nonmetallic Mineral Products; Paper ...
Global operating conditions stabilized in July, following a sustained period of weakness, according to the JPMorgan Global Manufacturing PMI, which stood at 50.0. PMIs remained above 50.0 in China, India and Turkey and rose back above this level in Japan and the UK for the first time in 17 and 16 months respectively.
The Global Manufacturing Output Index rose to an 18-month high in July. At a twenty-month high of 53.3, the Global Manufacturing New Orders Index pointed to an increase in new work received for the first time since March 2008. International trade volumes rose slightly in July, following ten months of sustained decline. "Global manufacturing started Q3 2009 on a strong footing," said David Hensley, director of Global Economics Coordination at JPMorgan. "The PMI indicates ...
The Global Manufacturing Output Index rose to an 18-month high in July. At a twenty-month high of 53.3, the Global Manufacturing New Orders Index pointed to an increase in new work received for the first time since March 2008. International trade volumes rose slightly in July, following ten months of sustained decline. "Global manufacturing started Q3 2009 on a strong footing," said David Hensley, director of Global Economics Coordination at JPMorgan. "The PMI indicates ...
Purvis Industries, Dallas, TX, has acquired Bearing Service and Supply, San Angelo, TX, a distributor of power transmission, fluid connectors and motion control products.
Bearing Service and Supply focuses on the agricultural, industrial and alternative energy customers in the San Angelo and West Texas region.
Purvis, founded in 1945 in Waco, TX, is a large regional independent power transmission, electrical control and belting services distributor, with 41 locations in seven states. Purvis goes to market through six units: American Keyed and Custom Shaft, CapCorp Belting, National Mechanical Power Systems, Purvis Bearing Services, Triad Industrial Automation, and U.S. Conveying Systems & ...
Bearing Service and Supply focuses on the agricultural, industrial and alternative energy customers in the San Angelo and West Texas region.
Purvis, founded in 1945 in Waco, TX, is a large regional independent power transmission, electrical control and belting services distributor, with 41 locations in seven states. Purvis goes to market through six units: American Keyed and Custom Shaft, CapCorp Belting, National Mechanical Power Systems, Purvis Bearing Services, Triad Industrial Automation, and U.S. Conveying Systems & ...
Interline Brands, Inc., Jacksonville, FL, distributor and direct marketer of maintenance, repair and operations products, reported sales for the second quarter ended June 26, 2009, were down 13.3% to $269.9 million from the prior-year period.
Average organic daily sales decreased 14.7% for the quarter.
Interline's facilities maintenance end-market, which comprised 74% of sales, declined 7.8% during the second quarter on an average daily sales basis, and declined 9.9% on an average organic daily sales basis. The professional contractor end-market, which comprised 16% of sales, declined 28.4% in the quarter and the specialty distributor end-market, which comprised 10% of sales, declined 20.6% for the quarter.
Profit (net income) was $6.4 million in the second quarter, compared ...
DXP Enterprises reported sales of $144.4 million in the second quarter 2009, a decrease of 23.1% from the prior-year period. Sales by businesses acquired in 2008, on a same-store basis, accounted for $12 million of 2009 sales.
Excluding these sales, sales fell 29.5% in the second quarter.
Profit was $2.16 million, down 31.7%.
Sales for the six months ended June 30, 2009, fell 15.2% to $302 million from the prior-year period. Profit was $5.3 million. Excluding first-half 2009 sales of $26.2 million by the businesses acquired in 2008, sales decreased 22.6% from the first half of 2008.
CFO Mac McConnell said: "Economic conditions for the oil and gas and industrial manufacturing industries have proven to be more severe than anticipated. … We will continue to ...
Excluding these sales, sales fell 29.5% in the second quarter.
Profit was $2.16 million, down 31.7%.
Sales for the six months ended June 30, 2009, fell 15.2% to $302 million from the prior-year period. Profit was $5.3 million. Excluding first-half 2009 sales of $26.2 million by the businesses acquired in 2008, sales decreased 22.6% from the first half of 2008.
CFO Mac McConnell said: "Economic conditions for the oil and gas and industrial manufacturing industries have proven to be more severe than anticipated. … We will continue to ...
