March 20, 2008

CONEXPO, IFPE Show Outsized Even for Vegas

Building Materials/Construction, Economic Trends, Free, Research & Analytics, Subscriber Only, Top Distributor Sectors / Tom Gale

You wouldn’t know the troubles in U.S. residential construction markets if you were at the CONEXPO-CON/AGG and IFPE expositions last week in Las Vegas. From what I heard and saw, people were buying and shopping hard. The two biggest impressions I came away with were the quantity of international exhibitors and attendees, and the increased focus of energy-efficient and hybrid technology, both on the construction side as well as hydraulic and motion control products.

Without question, the vitality of the show indicates there are some growth markets even while the national focus is on the housing markets. Manufacturers and distributors at the show said their industrial sales were strong. Those selling into energy-related sectors and any markets with export were reporting …

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Report: Canadian Economy Shows Good Signs in February

Economic Trends, Free, News, Research & Analytics, Subscriber Only / MDM Staff

According to a recent report by Statistics Canada (www.statcan.ca), there are several indications that the Canadian economy quickly shrugged off its drop in December and began growing again in the New Year. Housing starts and auto sales posted strong gains. The stock market in February rebounded from its dip in January, reflecting one of the largest jumps in monthly commodity prices during the current boom that began six years ago. Most importantly, firms expanded payrolls in both January and February, consistent with a pickup in investment plans for 2008.

Firms plan to boost nominal business investment about 6% in 2008, according to the annual survey of investment intentions. The increase bettered last year’s hike, and was …

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Weyerhaeuser Sells Packaging Business for $6B

Building Materials/Construction, Free, News, Operations, Paper Products & Packaging Distribution, Subscriber Only, Top Distributor Sectors / MDM Staff

Weyerhaeuser Company, Federal Way, WA, has sold its Containerboard Packaging and Recycling business to International Paper for $6 billion in cash. Weyerhaeuser said it expects to use a substantial portion of the after-tax proceeds from the sale to pay down debt.

The transaction includes nine containerboard mills, 72 packaging locations, 10 specialty-packaging plants, four kraft bag and sack locations and 19 recycling facilities.

Steven R. Rogel, chairman and chief executive officer, said the announcement completes the company’s strategic review of the CBPR business.

The transaction is currently expected to close in the second half of 2008. International Paper has committed financing for the entire purchase price.
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Weyerhaeuser Company, a …

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Housing Starts Fall Slightly in February

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

The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for February 2008:

Building Permits
Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 978,000. This is 7.8 percent below the revised January rate of 1,061,000 and is 36.5 percent below the revised February 2007 estimate of 1,541,000.

Single-family authorizations in February were at a rate of 639,000; this is 6.2 percent below the January figure of 681,000. Authorizations of units in buildings with five units or more were at a rate of 295,000 in February.

Housing Starts
Privately-owned housing starts in February were …

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March 20, 2008

CONEXPO, IFPE Show Outsized Even for Vegas

Report: Canadian Economy Shows Good Signs in February

Weyerhaeuser Sells Packaging Business for $6B

Housing Starts Fall Slightly in February

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