April 30, 2008

Wading Through 2008

Economic Trends, Free, Research & Analytics, Subscriber Only / Tom Gale

Yesterday’s numbers weren’t surprising to most distributors, but they reinforce that this year is about doing some hard work to position and strengthen the business. GDP rose at a 0.6% annual rate in the first quarter of 2008 to mirror the fourth quarter of 2007. The Federal Reserve lowered its key interest rate by one-quarter percentage point to 2.0 percent, the lowest since November 2004.

What the numbers aren’t saying: Certain markets are beginning to soften in the last 30-60 days for some industrial distributors, but sales levels still exceed expectations set last fall. Products bound for end-use markets in energy, export and infrastructure are staying strong.

Of the 142,000 attendees the CONEXPO/IFPE show last month drew to Las Vegas, about 19% were …

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Timken Sales Up 12% in 1Q

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

The Timken Company, Canton, OH, reported sales of $1.43 billion during the first quarter of 2008, an increase of 12% over the same period a year ago. The increase was driven by strong sales in global industrial markets, as the company benefited from its capacity-expansion initiatives, as well as the favorable impact of pricing, surcharges and currency.

During the quarter, the company:

Implemented the next wave of Project O.N.E., Timken’s business process improvement and global systems initiative, covering most of the company’s remaining U.S. and European operations;
Completed construction of a new industrial bearing manufacturing plant in Chennai, India, and a new aerospace and precision products facility in …

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Trelleborg Agrees to Buy Italian Supplier

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

Through its Trelleborg Sealing Solutions business area, Trelleborg has agreed to acquire Italian company Officine Meccaniche GNL SpA, with 60 employees and sales of about SEK 90M.

GNL strengthens Trelleborg’s leading global position in the area of specialty seals for heavy-duty applications, including seals for the construction industry, mining industry and agricultural machinery,”says Claus Barsöe, Business Area president of Trelleborg Sealing Solutions.

The operations will be integrated in the business area Trelleborg Sealing Solutions.

The Trelleborg Group had annual sales 2007 of SEK 31 billion, with about 25,000 employees in 40 …

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