The price of oil crept up toward $95 a barrel Tuesday after China's central bank injected credit into the financial system to offset concerns about slower economic growth, and experts raised their forecast for global crude demand.
Tom Johnstone, SKF President and CEO, comments, “In the last four years SKF has more than doubled the number of patent filings, which shows that the increased investment we have made in R&D is bringing results. The opening of these centres reinforces our commitment to increase our investment in research and development and bring it even closer to customers.”
The division provides reciprocating compression equipment and aftermarket parts and services for oil and gas production, gas processing, gas distribution and independent power industries. Cameron’s Reciprocating Compression division, which generated sales of approximately $355 million in 2012, has approximately 900 employees and operates from 20 global locations.
Eaton announced it has entered into an agreement to sell its Aerospace Power Distribution Management Solutions and Integrated Cockpit Solutions business to Safran for $270 million.
This restructuring is the most recent change for the rapidly growing motors and drives business. In 2013, TIC completed another 107,000 square foot plant expansion to its existing one million square foot facility, doubling production capacity for its Medium Voltage Adjustable Speed Drive product line.
Lee retired after 36 years of service with the company, and will remain on the Board of Directors. In order to ensure a smooth transition upon Lee's retirement, Pearce has been involved with the sales and management team traveling to various branch offices and meeting with customers during 2013.
U.S. factory output rose for a fifth straight month in December, as manufacturers cranked out more cars and trucks, appliances, and processed food. The gains suggest factories gave economic growth a strong boost at the end of the year.
Raymond Chang will become the Vice President, General Counsel, and Secretary of the publicly traded distribution company. Chang started with National Oilwell Varco in 2001 and has held various positions within the company’s Legal Department since his start.
The December 2013 composite index improved to 67 from 66 in the September survey — the fourth straight quarterly advance and the highest level since the September 2011 reading of 67. For 17 quarters, the index has remained above the threshold of 50, the dividing line separating contraction and expansion.
U.S. wholesale prices increased in December, pushed up by rising gasoline prices and energy costs. But overall inflation remained mild.
The $18.5 million is to create assured and affordable production of products that have been identified as essential for national defense, but where U.S. industry has not demonstrated an ability to deliver due to market conditions or other fiscal barriers.
Unification of more than 14 premium brands brings the strength of the world’s largest tool company to the industrial and automotive repair industry.
The Kennedy name is well-known for its steel tool chests, roller cabinets, stationary and mobile workbenches, modular storage cabinets and tool storage for the metal working, MRO, and material handling industries.
Production after a closure would be transferred to the company's remaining rolls facilities in Europe where there is sufficient capacity to handle Heidenheim's order volume.
PTDA Foundation President Barbara Ross notes: "This contribution will help ICP measure the awareness of industrial distribution and develop exciting new strategies to engage our target market of Millennials. This type of broad-based market research is something we've always dreamed of tackling."
A statement from the company: "In December 2013 we issued a press release intended to provide an update on the fourth quarter of 2013. We took this step because our December sales trends were weak, but, more importantly, because our gross margin trends were deteriorating."
“The Minot branch will enhance Graybar’s ability to meet growing demand in the oil and gas market in the Bakken and Three Forks Formation areas of North Dakota,” explained Bill Keller, Minneapolis district vice president.
NetPlus Alliance, a buying & marketing group for industrial and contractor supplies distributors, welcomes new distributor members: American Bolt Corporation, Evansville Bolt & Nut Co Inc., SCI Corporation, and SourceHub LLC.
Upon the closing of the acquisition, R G Sales' entire distribution business will become integrated into Sterling Consolidated's business and contribute directly to its top-line revenue stream. The transaction will be completed using only cash and no shares of Sterling Consolidated.