Graco Inc. said Thursday that it agreed to pay $650 million in cash for Illinois Tool Works Inc.’s finishing businesses. Get the full story »
Inside these posts: Industrial production
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Grainger sales rise 11% in February
W.W. Grainger Inc., a supplier of industrial maintenance and safety products, said Friday that daily sales in February rose 11 percent compared with a year ago. Get the full story »
A.M. Castle Q4 loss narrows as pricing improves
Specialty metals and plastics distribution company A.M. Castle & Co posted a narrower quarterly loss on increased demand and improved pricing.
The Franklin Park, Illinois-based company said it expects sales growth rate in 2011 to be similar to 2010. Get the full story »
Industrial production falls in January
U.S. industrial output unexpectedly fell in January as a return to normal winter temperatures caused a sharp fall in utility output, while production from mines also fell, a Federal Reserve report showed on Wednesday.
Industrial production fell 0.1 percent in January after an upwardly revised 1.2 percent jump in December, which had been driven by unseasonably cold weather that spiked heating demand. Get the full story »
Grainger January sales rise 10%
Industrial maintenance and safety products supplier WW Grainger Inc. reported January daily sales growth of 10 percent, mainly driven by strong sales at its heavy manufacturing and reseller end markets in the United States.
The United States, which is the Lake Forest-based company’s largest market, posted sales growth of 6 percent, while sales in Canada were up 24 percent. Get the full story »
Industrial production rises by most in 5 months
Industrial production rose in December by the largest amount in five months, providing the economy with solid momentum heading into the new year.
Activity at the nation’s factories, mines and utilities increased 0.8 percent last month, the Federal Reserve said Friday. Industrial production was up in every month but one in 2010.
Grainger sells library supplies brand to DEMCO
Industrial products supplier WW Grainger Inc. said it sold its library supplies brand Highsmith to DEMCO Inc and is considering the sale of four more specialty brands.
The company, which offers almost everything from abrasives to refrigerants, said it may sell Professional Equipment, Construction Book Express, McFeely’s and Rand — which along with Highsmith accounted for one percent of its revenue.
Chicago-based Grainger said it will continue to invest in the remaining brands including Lab Safety Supply, Imperial, Gempler’s, Ben Meadows and AW Direct, and look for acquisitions. Get the full story »
AptarGroup rival Greif tops Wall Street Q4 view
Greif Inc., a maker of industrial packaging products, posted better-than-expected quarterly results, helped by solid sales at all its packaging divisions.
The company, which competes with Crystal Lake-based AptarGroup Inc., saw quarterly revenue rise 31 percent to $993.9 million. Get the full story »
Corn Products to invest $75M to $100M in Brazil
Corn Products International Inc., which refines corn for use in food and industrial products, said Tuesday it plans to invest $75 million to $100 million over the next several years in its Brazilian business. Get the full story »
Caterpillar and ITW could face slower 2011 growth
After racking up strong earnings growth in 2010, major U.S. manufacturers are expect to set the stage for a slower-paced 2011 when they meet with analysts and investors to lay out their expectations for the coming year.
Heavyweight industrials including Illinois Tool Works, General Electric, United Technologies Corp, 3M Co., Honeywell International and Danaher are all set to provide 2011 forecasts in the coming weeks.
Profit margins across the sector swelled this year as companies that cut costs to the bone during the brutal recession experienced a rebound in sales that helped the Standard & Poor’s capital goods industry index to rise about 14 percent, more than twice the gains of the broader U.S. stock market. Get the full story »
Caterpillar, other companies guarded about outlook
Manufacturers enjoyed big gains on Wall Street in the third quarter, outperforming the S&P 500, as signs of a faltering U.S. recovery sent investors piling into companies like Caterpillar Inc. and Cummins Inc. that generate most of their sales overseas.
But the sustainability of those gains will be tested this month as the big industrials report their quarterly results and update investors on the outlook for the rest of the year. Get the full story »
Manufacturing grew faster in August than in July
Manufacturing companies grew faster in August as the industrial sector continues to lead the recovery, and managers’ desire to hire shot up to the highest level in nearly 30 years.
The Institute for Supply Management said Wednesday its manufacturing index rose to 56.3 in August from 55.5 in July. A reading above 50 indicates growth. The manufacturing sector has expanded for 13 straight months.
Weekly jobless claims fall to 2-year low
New U.S. weekly claims for jobless benefits fell to their lowest level in nearly two years while industrial production eked out a small gain in June, but producer prices fell for a third month providing more evidence that economic growth is slugglish. Get the full story »
