Toolmaker Danaher Corp. (NYSE:DHR) said it complies with accepted accounting principles. The statement was issued in response to market rumors triggered by an article on financial Web site TheStreet.com. The article questioned the quality of earnings at Danaher, a company that has expanded through serial acquisition.

The article also suggested Danaher may have ''spring-loaded'' its earnings by not adequately disclosing merger-related expenses. Danaher denied all accusations of wrong-doing.

Kaman Industrial Technologies'Delmanc de Mexico S.A. de C.V. division opened a new branch in Guadalajara, Mexico. This location is Kaman's third Mexican branch.

IBC surpassed 100 percent growth in its buying and marketing group over the last 18 months. The three-year-old company added 48 members with over 200 locations since January 2001 in both of its verticals. The number of IndustrialSupplyPlus and BearingSupplyPlus members includes 288 locations.

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Eaton Corp. purchased the Boston Weatherhead division of Dana Corp. …JLW Instruments Inc. acquired Metrology Concepts …American Packing and Gasket Co. acquired the Ever-Tite Coupling Products division of Morris Coupling Co. …Pentair acquired Oldham Saw Co., Inc. …UNOVA, Inc.'s Cincinnati Machine and Lamb Technicon divisions combined their business operations …Applied Industrial Technologies acquired the distribution business of Industrial Equipment Co. Ltd. …Rust-Oleum Corp. acquired Sierra Performance Coatings …The Hillman Companies, Inc.'s Hillman Group subsidiary purchased the Fastenal Co. DIY division …Industrial Supply Corp. , purchased Transmission Products Inc.'s distribution business while TPI's OEM division will continue operation as TPI Engineered Systems.

Industrial Distribution Group, Inc.'s Boring-Smith business unit received a Fleetwood Enterprises, Inc. , Circle of Excellence Award …Georgia-Pacific received a W.W. Grainger, Inc. 2001 Customer Focused Quality 1 Award …HighJump Software received the emerging IT/software company Tekne Award …W.W. Grainger received a Masco Corp. 2001 MASTAR award.

Send Update information to managing editor Victoria Fraza, 275 Washington St., Newton, Mass., 02458; call (617) 558-4289; fax to (617) 558-4327; or email vfraza@reedbusiness.com.

Jim Palmer of Simonds Industries broke 100 in the golf tournament during the annual mid-year meeting of I.D.A. and ISMA executives held in Puerto Rico in late September. It was president meets queen when Mort Harris, president of I.D.A., was seen having an intense discussion with Queen Latifa, a noted rap artist attending a "hip-hop" convention at the same hotel. No word yet if I.D.A. is coming out with a rap album.

Two outstanding panel discussions got strong reviews at the PTDA convention in October. The discussions focused on joint planning and were moderated by Michael Marks of Indian River Consulting. The panelists covered a number of topics including sharing point-of-sale information.

At the NIBA — The Belting Assn. convention in Nashville this fall, president Ron Roalsen was spotted having fun with specialty belting products, imitating a spiny-backed dinosaur and a hula dancer. He requested that photos be withheld lest they appear in NIBA's Belt Line magazine.