The company specializes in delivering high-quality hydraulic components, systems, and custom solutions tailored to customer needs.
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After the transaction, CD&R will continue to own more than 15 million shares of common stock it currently directly holds.
The partnership is the company's sixth transaction of the year.
With the sale, ABB said it has now completed all divisional portfolio divestments announced at the end of 2020.
Form Tech provides concrete forming and shoring rental equipment and related consumable products serving contractors through seven locations.
OmniCable’s current Vice Chairman Jeff Siegfried has taken on the role of interim CEO as Greg Lampert departs.
New orders for manufactured goods in May increased $1.6 billion, or 0.3%, to $578.0 billion, according to the Census Bureau.
The CHIPS and Science Act and the Inflation Reduction Act are linked to the recent rise in construction spending, according to the WSJ.
Maida will serve in an advisory role to the CEO following his retirement, the company said in a news release.
While overall construction spending rose, nonresidential construction spending decreased for the fist time in nearly a year.
Following a 28-month period of growth, economic activity in the manufacturing sector contracted in June for the eighth consecutive month.
The home improvement retailer recently agreed to pay more than $72M to workers who were denied wages while they were ‘standing around.’
The company announced net sales of $1 billion in the third quarter of fiscal 2023, which ended May 31.
MDM reported 27 mergers and acquisitions among industrial distributors and manufacturers during June, representing a slight slowdown as 2Q wraps up.
The company is investing about $174 million USD in the new location, which could create about 900 jobs by 2027.
Christopher M. Burrow has been named Vice President of Acquisitions, Financial Planning and Analysis, effective July 5.
By 2024, the company says it will complete its goal by focusing on reducing fixed costs beyond product and transportation expenses.
Stephanie L. Sciullo was appointed to President of MSA Americas, where she succeeds Steve Blanco, who was recently elected President and COO.
The April data was revised lower, however, indicating businesses remained cautious about investing amid economic uncertainty.
The new delivery program has a goal of recruiting approximately 2,500 small business partners by the end of this year.
