The 2020 Mid-Year Economic Update_long

News Digest 3612

acquisition of the Lanoga Corp. With the Hope acquisition, Pro-Build will have more than $6 billion in revenues under its umbrella. More … 

Tencarva Machinery Company, Greensboro, N.C., (about $100 million in annual sales) has acquired the Municipal Division of emoryWilson Company, a pump distribution company, effective May 1, 2006. Tencarva’s municipal division includes Tencarva’s current municipal group in Arkansas and Tennessee, as well as the territory of the former emoryWilson Municipal Division, which covers North Carolina, South Carolina, most of Virginia and a few counties in northeastern Tennessee. Tencarva is a distributor specializing in liquid process, compressed air, vacuum equipment and custom-designed systems for the industrial and municipal marketplace. More …

Rockwell Automation, Inc., Milwaukee, WI, plans to sell the company’s Dodge mechanical and Reliance Electric motors and motor repair services businesses. These are producers of mechanical power transmission products and industrial motors, and are the principal businesses of the company’s Power Systems reporting segment. Rockwell Automation will retain the Reliance Electric and Reliance branded drives and related parts and services as an integral part of its global drives and customer service businesses. More …

Industrial production declined 0.1 percent in May after an increase of 0.8 percent in April. Manufacturing production also fell 0.1 percent last month. The output index for mining moved down 0.2 percent, but the output index for utilities was up by the same amount. At 112.1 percent of the 2002 average, overall industrial output was 4.3 percent above its May 2005 level. The rate of capacity utilization for total industry fell 0.2 percentage point, to 81.7 percent, a rate that is 0.7 percentage point above its long-run (1972-2005) average. The factory operating rate fell 0.3 percentage point, to 80.5 percent, and the mining operating rate edged down to 89.6 percent, but the rates in both sectors remained above their long-run averages. The capacity utilization rate for utilities edged up, to 86.5 percent, in May but remained slightly below its 1972-2005 average. More …

Canada wholesale sales remained essentially unchanged in April (+0.1 percent) after posting strong growth in March (+1.2 percent). Wholesalers sold $41.6 billion worth of goods and services in April. Increased sales of consumer goods were offset by decreased capital spending. In April, sales rose in three of the seven wholesale sectors: food, beverages and tobacco products (+1.8 percent), personal and household goods (+1.3 percent) and “other products” (+1.2 percent). The steepest decline was registered by wholesalers of building materials (-1.8 percent). More …

Building Materials Holding Corp., San Francisco, CA, ($2.9 billion in 2005 sales) distributor to professional residential builders and contractors, has launched a new division aimed at high-volume builders, SelectBuild Construction. SelectBuild’s services will include project estimating, structural engineering, materials procurement and handling, component manufacturing, shell construction, rough framing assembly and millwork installation. SelectBuild is the successor for the group of companies under BMC Construction, BMHC’s pro builder and contractor services arm. More …

Stock Building Supply, Raleigh, NC, a supplier of building materials to professionals in the U.S., has acquired Coleman Floor Company, Inc. (2005 sales of $233.5 million). Coleman primarily sells and installs residential flooring products to production residential home builders throughout the Eastern U.S. and Chicago. Founded in 1947 in Chicago, Coleman expanded into Virginia and South Florida in the 1970s and into North Carolina in 1996. The company presently operates from 23 locations. Stock now operates 307 locations in 33 states and had reported sales of $4.1 billion for 2005. Stock is a subsidiary of Wolseley plc ($20 billion in 2005 sales) of Theale, England. See article on p. 3 of this section. More …

White Cap Construction Supply, a business of Home Depot Supply, has agreed to acquire Western Fasteners, Denver, CO, a distributor of construction fasteners, power tools and accessories to general contractors, sub-contractors, building maintenance departments and manufacturers in the Western and Southwestern U.S. It operates eight branches. Another Home Depot Supply company, Creative Touch Interiors, has acquired Rice Planter Carpets, which provides flooring design, sales and installation services to the pro market in South Carolina. More …

Stuart C. Irby Co., a subsidiary of Sonepar USA, has agreed to acquire RE Supply Inc., an electric utility distributor operating out of Rocky Mount, NC. RE Supply focuses on North Carolina, South Carolina, Virginia, Maryland and Delaware. The move by Irby strengthens Sonepar’s position in the utility markets, which it entered in September 2005 by acquiring Irby. Sonepar recorded sales of more than $9.3 billion last year. More …

Red Man Pipe and Supply Co., Tulsa, OK, (more than $700 million in annual sales) has acquired Bear Tubular Inc., Marcus Hook, PA. Bear Tubular has annual sales of more than $15.1 million. It has 33 employees and more than $2.5 million in inventory. Bear Tubular has supplied the heavy industrial market with complete piping packages since 1981. Red Man has made a significant investment in the Northeastern industrial markets by expanding its local presence and inventory. Red Man is a distributor of pipe, valves, fittings, industrial mill supplies, oilfield products and tubular goods. More …

Mayer Electric Supply Co., Birmingham, AL, has acquired Biloxi Electric Supply, Biloxi, MS, and has opened a new branch in Gulfport, MS. Biloxi Electric Supply will move soon to a larger facility with increased inventory and access to Mayer’s network of 56 branches in the Southeast. Mayer serves electrical contractors, industrial and institutional facilities, the marine industry and commercial business. More …

Pro-Build Holdings Inc., Boston, MA, professional building materials supplier, has agreed to buy Hope Lumber and Supply Company, Tulsa, OK, a supplier of lumber, trusses, engineered wood products, millwork and other building materials, from Rooney Holdings Inc. Hope Lumber operates 49 yards and five truss plants in nine states in the Southeastern and South Central U.S. Pro-Build operates more than 400 lumber and building product distribution, manufacturing and assembly centers throughout the U.S., operating under several regional brands. The Hope deal follows closely on the heels of Pro-Build’s February 2006

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