MDM News Digest 3919

News briefs from Sept. 11 - 25, 2009

Building Materials Holding Corp., Boise, ID, has secured a commitment for $83.5 million of exit financing that will be available to the company upon its emergence from Chapter 11 to help meet its operating needs and grow its business. More

Graybar, St. Louis, MO, will open a full-service logistics center in Carteret, NJ, to serve as the primary shipping location for the New York and New Jersey area. More

Emerson, St. Louis, MO, has agreed to acquire Avocent Corp. , a provider of infrastructure management technology. The transaction will further Emerson’s ability to deliver total infrastructure management solutions to its data center customers. More

Diversified manufacturer Carlisle Companies Inc., Charlotte, NC, has acquired two international companies, broadening its product offerings and expanding its global reach. Carlisle acquired the remaining interest in Japan Power Brake, Inc., Atsugi, Japan, from its joint venture partner, The Yokohama Rubber Company, Ltd. In addition, Carlisle bought privately-held Electronic Cable Specialists, Inc., Franklin, WI. More

German materials distributor ThyssenKrupp has bundled plastics capabilities into a new organization, ThyssenKrupp Plastics International GmbH, that will oversee operations of 15 enterprises located in ten European countries. More

Ruland Manufacturing Co. Inc., Marlborough, MA, and Belden Inc. have started a joint venture in Europe, PTMotion GmbH. Operational since Sept. 1, 2009, the new company is headquartered in Berlin, Germany, and will focus on OEM customers in Germany and other European markets. More

Average revenues declines in the third quarter were -15.6 percent year over year compared to -16.0 percent year over year last quarter, according to the third quarter Baird Industrial Distribution Survey. Pricing and gross margins appear to be holding relatively steady despite competitive behavior in some channels, while inventory levels continue to decline with no restocking expected in the near-term. More

Since the start of the recession in December 2007, the number of unemployed persons has increased by 7.6 million to 15.1 million, and the unemployment rate has doubled to 9.8 percent, the U.S. Bureau of Labor Statistics reported. Wholesale trade employment was down by 4.9 percent from August to September. Construction employment declined by 64,000. More

In August, the Canadian Industrial Product Price Index (IPPI) rose 0.5 percent and the Raw Materials Price Index (RMPI) was up 3.7 percent compared with July, mainly as a result of rising petroleum and metal prices, according to Statistics Canada. Since May, the level of the index has remained fairly stable, alternating between upward and downward movements of similar size. More

Manufacturing expanded in September for the second consecutive month, according to the latest Manufacturing Institute for Supply Management Report on Business. In September, 13 of the 18 manufacturing industries reported growth. More

Construction spending during August 2009 was estimated at a seasonally adjusted annual rate of $941.9 billion, 0.8 percent above the revised July estimate of $934.6 billion, according to the U.S. Census Bureau of the Department of Commerce. The August figure is 11.6 percent below the August 2008 estimate of $1,066.1 billion. During the first eight months of this year, construction spending amounted to $629.5 billion, 11.9 percent below the $714.3 billion for the same period in 2008. More

The Chicago Fed Midwest Manufacturing Index (CFMMI) decreased 0.3 percent in August to a seasonally adjusted level of 80.1 (2002 = 100). Revised data show the index rose 3.1 percent in July to 80.4. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) was up 0.6 percent in August. Regional output in August declined 20.8 percent from a year earlier – lower than the 12.0 percent decrease in national output. More

Real gross domestic product – the output of goods and services produced by labor and property in the U.S. – decreased at an annual rate of 0.7 percent in the second quarter 2009 (from the first quarter), according to the third estimate by the Bureau of Economic Analysis. In the first quarter real GDP decreased 6.4 percent. More

NEMA’s Electroindustry Business Confidence Index (EBCI) for current North American conditions increased for a third straight month and topped the 50-point threshold indicative of sectoral expansion for a second straight month in September. The index rose 5.3 points to 58.6, its highest reading since April 2006 and more than 50 points above its cyclical low of 8 in December 2008. More

Nearly two-thirds of single-family home builders are reporting a “severe lack of credit” for housing production, according to a builder survey of acquisition, development and construction financing from the National Association of Home Builders. As a result, two-thirds of respondents plan to put single-family construction on hold. More

The Chicago Fed National Activity Index was -0.90 in August, down from -0.56 in July. Three of the four broad categories of indicators made negative contributions to the CFNAI in August; the production and income category made a positive contribution to the index for the second consecutive month. More

New orders for manufactured durable goods in August decreased $4 billion or 2.4 percent to $164.4 billion, the U.S. Census Bureau announced. This was the second decrease in the past three months. This followed a 4.8 percent July increase. Excluding transportation, new orders were down slightly. Excluding defense, new orders decreased 2.4 percent. More

New orders for manufactured goods decreased $2.8 billion or 0.8 percent to $352.9 billion in August, the U.S. Census Bureau reported. Excluding transportation, new orders increased 0.4 percent. More

Total construction spending on an annual basis is expected to fall 12 percent this year and 4 percent in 2010, according to the Third Quarter U.S. Construction Briefing by IHS Global Insight’s Construction Service. Real total construction spending is expected to rebound with double-digit growth on an annual basis in 2011 and 2012. More

Actuant Corp. , Butler, WI, reported sales for fiscal year 2009 were $1.24 billion, down 23 percent from fiscal year 2008. Profit decreased 88.8 percent to $13.7 million. For the fourth quarter ended Aug. 31, 2009, sales were $290.1 million, down 26.3 percent from the prior year period. Profit declined 51.2 percent to $16.5 million. More

The JPMorgan Global All-Industry Business Activity Index increased to 52.9 in September, up from 52.0 in August, its highest reading since December 2007. The headline index has posted above the neutral 50 mark in each of the past two months. The average reading for the third quarter 2009 was 51.1, well above that for the second quarter. More

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