July 31, 2007

EnPro Buys Compressor Products International

Finance, Free, Mergers & Acquisitions, News, Power Transmission/Motion Control/Fluid Power, Subscriber Only, Top Distributor Sectors / MDM Staff

EnPro Industries Inc., Charlotte, NC, manufacturer of engineered industrial products, has acquired Compressor Products International, a privately-held company that designs, manufactures and services sealing components for reciprocating compressors.
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CPI, Hungerford, Berkshire, England, manufactures critical sealing components for reciprocating compressors and related equipment for both compressor manufacturers and for the oil, gas and petrochemical industries.
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It will be combined with EnPro’s France Compressor Products business to create the world’s largest manufacturer of reciprocating compressor sealing components.
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This acquisition is a very positive step for FCP and CPI, as well as for EnPro,” said Ernie Schaub, EnPro president and chief …

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Timken Sales Grow 3% in First Half

Free, News, Power Transmission/Motion Control/Fluid Power, Subscriber Only, Top Distributor Sectors / MDM Staff

The Timken Company, Canton, OH, reported sales of $1.35 billion in the second quarter of 2007, an increase of 4% over the same period a year ago. Strong sales in industrial markets were partially offset by the divestment of the company’s automotive steering and European steel operations.
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During the quarter, the company:

Completed the first major U.S. implementation of Project O.N.E., a program designed to improve business processes and systems;
Made further progress on key additions to Industrial Group capacity in Asia and North America;
Advanced its restructuring initiatives within its Automotive and Industrial Groups; and
Completed the closure …

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Air Liquide Expands in Serbia

Free, Gases & Welding Equipment, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Global industrial gases company Air Liquide has increased its presence in Southeastern Europe by creating a subsidiary in Serbia.
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Over the past three years, Serbia has been one of Europe’s fastest growing economies with an average annual GDP growth of 7.3%. It is the most industrialized country in ex-Yugoslavia. Its major growth drivers are telecommunications, construction and transport, with a recent upswing of industrial production. Its strategic position allows good access to transportation corridors between Western and South-Eastern Europe and Turkey.

The move is part of Air Liquide’s goal to establish a stronger presence in the region. Since the end of last year, Air Liquide has operated an Air Separation Unit in Romania and is supplying cylinder and …

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Construction Spending Down Slightly in June

Building Materials/Construction, Economic Trends, Free, News, Research & Analytics, Subscriber Only, Top Distributor Sectors / MDM Staff

Construction spending in June 2007 was estimated at a seasonally adjusted annual rate of $1,175.4 billion, 0.3% below the revised May estimate of $1,178.4 billion. The June figure is 2.4% below the June 2006 estimate of $1,204.0 billion.
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During the first six months of the year, construction spending amounted to $550 billion, 3.5% below the $570.1 billion for the same period in 2006.
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Spending on private construction was at a seasonally adjusted annual rate of $890.9 billion, 0.3% below the revised May estimate. Residential construction was at a seasonally adjusted annual rate of $544.4 billion in June, 0.7% below the revised May estimate of $548.3 billion. Nonresidential construction was at a rate of $346.6 billion in June, 0.3% above the revised May …

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July 31, 2007

EnPro Buys Compressor Products International

Timken Sales Grow 3% in First Half

Air Liquide Expands in Serbia

Construction Spending Down Slightly in June

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