July 27, 2009

Timken May Sell Needle Roller Bearings Business

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

The Timken Company, Canton, OH, is in advanced discussions regarding the potential sale of its Needle Roller Bearings Business. In a press release, the company said: “There can be no assurance that a definitive agreement will be reached, nor that a sale, which would be subject to certain closing conditions, will be completed.”

Timken, a manufacturer of power transmission products, had sales of $5.7 billion in 2008, and operations in 26 …

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Saint-Gobain Sales Fall 15.5% in First Half of 2009

Building Materials/Construction, Chemicals & Plastics Distribution, Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

The Saint-Gobain Group, Courbevoie, France, reported sales for the first half of 2009 were €18.7 billion (US$26.6 billion), down 15.5% from the first half of 2008. Profit declined 88.1% to €128 million (US$182.2 million).The group saw negative organic growth of 15.5% for the period.

All of the group’s business sectors posted declines.

The continued decline of both construction and industrial markets in the US and Western Europe, as well as in most Asian and emerging countries, contributed to the steep declines in Building Distribution and Construction Products.

Sales in the Construction Products segment declined 15.3% on a like-for-like basis. Increased prices failed to offset the continuing fall in sales volumes, particularly in Interior Solutions, which fell …

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Wolseley Announces Plans for Further Business Closures

Building Materials/Construction, Companies, Free, HVACR, News, Plumbing Products & PVF Distribution, Subscriber Only, Top Distributor Sectors / MDM Staff

UK-based Wolseley plc, distributor of plumbing and heating products to professional contractors and supplier of building materials, reported revenues from continuing operations were down 1.5% – down 16% on a constant currency basis – to £13.25 billion (US$21.86 billion). Trading profit from continuing operations was down 47%.

The company has completed its review of the Central and Eastern European markets, and has decided to focus on countries in that region where it has built sufficient scale, established leading market positions and can deliver an appropriate financial return. As a result, Wolseley decided to sell its Belgium, Slovakin and Czech Republic businesses. It will retain a presence in Switzerland, Austria, Luxembourg, Denmark, Holland and Italy.

Action also has …

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July 27, 2009

Timken May Sell Needle Roller Bearings Business

Saint-Gobain Sales Fall 15.5% in First Half of 2009

Wolseley Announces Plans for Further Business Closures

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