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But housing starts down compared to year-ago period and the previous month, according to the latest residential construction report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
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According to the Industrial Production and Capacity Utilization Report, manufacturing output increased 1% during the month, about the same as its average gain over the previous five months.
NOW Inc., which reported a loss of $427 million for the year, also saw revenue sink 45.1% in in 2020.
All Northern Composite employees are staying on and the company will continue to operate at its existing facilities in Hampton, New Hampshire (headquarters), and Greensboro, North Carolina.
Flow Control Group serves more than 10,000 customers and 2,000 suppliers in North America for technical flow control and industrial automation products and related services.
MRO distributor names Bianca Martinez Rhodes as director, expanding the company’s board to eight members.
Genuine Parts Co., the parent of Motion, reported that the distributor’s 4Q sales of $1.4 billion were down 3.3% year-over-year and represented 34% of the company’s revenues in the period.
Blockbuster deal involves Rexnord performing a tax-free spin-off of PMC to its shareholders and then immediately combining it with Regal in a Reverse Morris Trust transaction.
Company will divest its majority interest stake in its High Pressure Solutions segment to the private equity firm American Industrial Partners for $300 million.
