July 23, 2008

Praxair Sales Grow 23% in 2Q

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

Praxair Inc., Danbury, CT, reported second quarter sales of $2.88 billion, up 23% from the second quarter of 2007. Profits were up 20% over the prior-year period to $349 million.

Sales for the first six months ended June 30, 2008, were $5.54 billion, an increase of 23% over the first six months of 2007. Profits were $665 million, up 18%.

The company saw strong sales growth in every geographic region, led by South America and Asia.

In North America, second-quarter sales reached $1.57 billion, 22% above the prior year. Excluding the effect of higher natural gas prices passed through to customers in hydrogen prices, sales growth was 18%, led by higher sales to energy and general manufacturing markets.

In Europe, sales in the second quarter …

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Lincoln Electric U.S. Export Sales Grow 28.6% in 2Q

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

Cleveland, OH-based Lincoln Electric Holdings, Inc., a welding products manufacturer, reported sales for the second quarter 2008 increased 19.3% to $699.8 million over the same period 2007. Profits were $70.1 million, an increase of 26.9%.

For the first six months ended June 30, 2008, sales improved 16.2% to $1.32 billion over the first six months of 2007. Lincoln reported profits for the period of $123.6 million, up 19.7%.

U.S. export sales in the quarter increased 28.6% to $64.5 million from $50.1 million in 2007.

Sales at Lincoln subsidiaries outside North America increased to $299.1 million in the second quarter, compared with $222.8 million in the year ago quarter, an increase of 34.2%. Excluding acquisitions and the effect of changes in foreign …

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Thomas & Betts Sales Benefit from Acquisitions, Price Increases

Electrical, Finance, Free, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Thomas &Betts Corp., Memphis, TN, reported sales of $641.3 million for the second quarter of 2008, up 26.4% over second quarter 2007. Profit increased 68% to $147.8 million.

For the first six months ended June 30, 2008, sales increased 26% to $255 million over the first six months 2007. Profit totaled $186.1 million, an increase of 55%.

Acquisitions contributed $114.1 million to the quarterly sales increase while foreign currency benefited sales by approximately $18 million. Commodity- and energy-related price increases offset lower underlying sales volumes in markets affected by the slowdown in residential construction.

Thomas &Betts is a designer and manufacturer of electrical components used in industrial, commercial, communications and utility …

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3M Agrees to Buy Ligacon

Companies, Finance, Free, Mergers & Acquisitions, News, Subscriber Only / MDM Staff

3M, St. Paul, MN, has agreed to acquire Ligacon AG, a Switzerland-based manufacturer and supplier of filtration systems and filter elements for the pharmaceutical, biotech and general industrial markets.

The acquisition of Ligacon will support 3M CUNO Filtration’s core business and expansion into key markets such as the pharmaceutical manufacturing industry.

3M CUNO Filtration manufactures and markets filtration solutions for separating, clarifying and purifying fluids and gases. 3M CUNO products serve the food and beverage, residential, leisure, industrial, healthcare and food service markets.

Ligacon employs 20 people at its headquarters in Tagelswangen, Switzerland.

3M manufactures thousands of products for diverse markets …

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Airgas Same-Store Sales up 7% in 1Q

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

Airgas, Inc., Radnor, PA, reported sales of $1.1 billion for the first quarter ended June 30, 2008, an increase of 22% over the prior-year quarter. Profits grew 33% to $68.9 million.

Acquisitions contributed 15% to the increase, and total same-store sales grew 7% in the quarter, with hardgoods up 6% and gas and rent up 7%. Strategic product categories, focused on healthcare, life sciences, research, environmental, and food and beverage markets, posted 10% organic growth in the quarter.

Airgas, Inc. is a U.S. distributor of industrial, medical, and specialty gases, and hardgoods, such as welding equipment and supplies. …

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