October 29, 2007

Kaman to Shed Music Business

Companies, Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Kaman Corp., Bloomfield, CT, is sharpening its focus on the aerospace and industrial distribution segments by selling its wholly owned subsidiary Kaman Music Corp. to Fender Musical Instruments Corp., Scottsdale, AZ, for $117 million in cash.
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KMC, which comprises the company’s entire Music segment, owns Ovation Guitars, LP and Toca hand percussion products, Gibraltar Hardware, Genz Benz Amplification, Hamer Guitars, and is the U.S. sales representative for Sabian Cymbals, and worldwide distributor of Takamine Guitars and Gretsch Drums. &nbsp ;
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Privately held Fender is an electric guitar manufacturer. In addition to owning the world-renowned Fender brand name, FMIC also owns Guild guitars, Charvel Guitars, Jackson Guitars, SWR Bass Amplification, Tacoma …

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Kaydon Acquires Avon Bearings for $55M

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

Kaydon Corp., Ann Arbor, MI, has acquired Ohio-based Avon Bearings Corp. for $55 million in cash. Avon is expected to add $30 million to Kaydon’s fiscal 2008 sales.

This strategic acquisition represents an important step for Kaydon in accelerating growth in our market-leading bearings business,” said James O’Leary, Kaydon president and CEO. “It will add immediate capacity to our growing wind energy platform while both strengthening existing customer relationships and adding others. In addition, Avon will broaden our presence in important offshore crane, construction and steel markets for very large diameter bearings, while also providing access to the refurbishment market where Avon has built a leadership position over many years.
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Avon is a manufacturer …

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Illinois Tools Works to Buy Cement Materials Supplier

Building Materials/Construction, Companies, Finance, Free, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors / MDM Staff

FLSmidth of Denmark has agreed to sell Densit A/S to Illinois Tool Works Inc.

FLSmidth wants to refocus its operations on Cement and Minerals. Densit was one of the Group’s final remaining non-core units.

Densit employs 68 people, and its turnover in 2006 amounted to DKK 144m (EUR 19m/US$27 million). Densit produces cement-based special-purpose materials used in the security industry, for wear protection, for industrial flooring and for reinforcement of offshore drilling rigs and offshore wind turbine foundations. The company also produces wear-resistant components for the cement and power-generating industries.

ITW, a $14 billion diversified manufacturer, produces engineered fasteners and components, equipment and consumables as well as specialty products. …

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Building Materials Suppliers Hit in 3Q

Building Materials/Construction, Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Building Materials Holding Corporation, San Francisco, CA, a provider of construction services and building materials to residential builders and contractors, reported sales for the third quarter 2007 fell 24% to $618 million from $818 million in the same quarter a year ago. For the nine months, sales decreased 28% to $1.9 billion from the same period a year ago.
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Profit for the third quarter 2007 decreased to $4.2 million from $35.3 million in the same quarter a year ago. Year-to-date, profit decreased to $18.6 million from $97.6 million in the same period a year ago.
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Our third quarter results reflect the continued deterioration of the homebuilding market.&nbsp ; Throughout the quarter, negative macroeconomic factors such as declining housing permits, ongoing …

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Simpson Manufacturing Sales Fall 4.2% in 3Q

Fasteners, Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Simpson Manufacturing Co., Inc., Pleasanton, CA, reported sales in the third quarter 2007 fell 4.2% to $217.3 million from the prior-year period. &nbsp ; Profit decreased 16.4% to $22.6 million for the third quarter 2007.
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In the first nine months of 2007, sales decreased 6.1% to $641.7 million and profit fell 18.6% to $68.3 million.
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In the third quarter of 2007, sales declined throughout most regions of the U.S. The decline was sharpest in the southeastern region and in California. Sales during the quarter in Canada increased significantly while sales in Europe were up slightly.
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Simpson Strong-Tie s third-quarter sales decreased 2.5% from the same quarter last year, while Simpson Dura-Vent sales decreased 17.3%. Simpson Strong-Tie sales to …

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Sequa Sales Up 3% in 3Q

Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Sequa Corp., New York, NY, reported sales of $572.1 million in the third quarter ended Sept. 30, 2007, up 3.1%. For the first nine months of 2007, Sequa’s sales increased 1% to $1.7 billion. Profit for the nine-month period was $44.3 million, compared with $42.1 million in the same period a year ago.
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Aerospace: Sales at Chromalloy Gas Turbine Corporation -Sequa’s largest business unit and the sole component of its aerospace segment -were on par with the third quarter of 2006, as increased sales to commercial airlines and the military substantially offset lower sales to marine and industrial turbine customers. Increased sales to airlines resulted from new product introductions and sales from long-term contracts with airline customers.
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October 29, 2007

Kaman to Shed Music Business

Kaydon Acquires Avon Bearings for $55M

Illinois Tools Works to Buy Cement Materials Supplier

Building Materials Suppliers Hit in 3Q

Simpson Manufacturing Sales Fall 4.2% in 3Q

Sequa Sales Up 3% in 3Q

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