December 17, 2007

Applied Industrial Expands Network in Mexico

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

Applied Industrial Technologies, Cleveland, OH, has acquired VYCMEX S.A. de C.V., headquartered in Monterrey, Mexico. It is a fluid power distributor with more than 70 employees.
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VYCMEX operates five service centers in Monterrey, Mexico City, Veracruz and San Luis Potosi. It will operate as a wholly-owned subsidiary of Applied Mexico Holdings S.A. de C.V.
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The acquisition of VYCMEX gives Applied substantial expertise and capabilities in fluid power products and systems in Mexico,” said Todd A. Barlett, Vice President -Acquisitions and Global Business Development for Applied.&nbsp ; “We can now provide a total product solution for Mexican industries that covers a broad range of hydraulics, pneumatics, bearings, power transmission and general industrial …

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Ingersoll-Rand to Acquire Trane Inc. for $10.1B

Finance, Free, HVACR, Mergers & Acquisitions, News, Plumbing Products & PVF Distribution, Subscriber Only, Top Distributor Sectors / MDM Staff

Ingersoll-Rand Company Ltd., Hamilton, Bermuda, has agreed to acquire Trane Inc., formerly American Standard Companies Inc., Piscataway, NJ, for $10.1 billion, including the assumption of $150 million of Trane net debt.
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Trane is a manufacturer of indoor climate control systems, services and solutions with expected 2007 revenues of $7.4 billion.
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According to Ingersoll Rand, the acquisition will form a $17 billion global industrial company, which includes an $11 billion Climate Control business. Trane’s commercial and residential climate control business complements Ingersoll Rand’s Hussmann and Thermo King brands.
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The total value was $47.81 per Trane share based on the closing price as of Dec. 14, 2007.
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Trane Inc., previously …

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WESCO Enters Joint Venture with Deutsch ECD

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

Electrical distributor WESCO International Inc., Pittsburgh, PA, will enter a joint venture with Deutsch Engineered Connecting Devices Inc., where the Hemet, CA-based company would own 60% of WESCO’s LADD operations at a price of $75 million.

Under the agreement, Deutsch has the option to acquire the remaining 40% after Jan. 1, 2010.
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LADD, a part of Carlton Bates, acquired by WESCO in September 2005, distributes specialized severe duty industrial connectors. LADD has been a master distributor of Deutsch connectors in the U.S. for more than 20 years and has annual sales of $100 million.
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WESCO and Deutsch will work together to further penetrate existing customers in the specialized heavy-duty connector market, and to accelerate growth in new market …

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Illinois Tool Works Sales Up 16.6%

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

Illinois Tool Works Inc., Glenview, IL, revenues increased 16.6% in the three months ended Nov. 30, 2007. Organic growth was 2.5%.
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International base revenues were up 5% while North American revenues grew less than 1%.

On a manufacturing segment basis, the company’s three-month moving average percentage change for operating revenues, comprised of base revenues and acquisitions net of divestitures, was:

Engineered Products/North America sales were up 2.2%.
Engineered Products/International sales were up 26.4%.
Specialty Systems/North America sales were up 7.7%.
Specialty Systems/International sales were up 16.2%.

ITW is a $14.1 billion diversified …

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Textron’s Greenlee Unit Acquires Paladin Tools

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

To broaden the company’s position in the voice, data and video channel, Textron Inc.’s Greenlee business unit has acquired Paladin Tools, Oilville, VA, a provider of tools and accessories for the telecom, datacom and wiring industries.

Strategically, this acquisition provides Greenlee with a complementary brand portfolio and an expanded product line,” said Scott Hall, Greenlee president. “Paladin also gives Greenlee access to additional distribution channels in the voice, data and video industry that will broaden our customer base for communications wiring tools.

Paladin’s brand names include Paladin Tools, DataShark and PowerPlay, and the company’s product line includes a variety of cutters, strippers, punchdown tools, crimpers, multi-tools, testers, kits …

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