News Desk
The February PMI registered 53.2%, an increase of 1.9 percentage points from January’s reading of 51.3%—indicating expansion in manufacturing for the ninth consecutive month The ISM report is based on a survey of purchasing and supply executives, and readings below 50 indicate contrac- tion, while those above 50 indicate expansion.
Index PMI™
New Orders Production Employment
Supplier Deliveries Inventories
Prices
Series Index Feb
Series Index Jan
53.2 51.3 54.5 51.2 48.2 54.8 52.3 52.3 58.5 54.3 52.5 44.0
Customers’ Inventories 46.5 44.0 60.0 60.5 52.0 48.0 53.5 54.5 53.5 53.5
Backlog of Orders Exports Imports
Percentage Point Change
+1.9 +3.3 -6.6 0.0
+4.2 +8.5 +2.5 -0.5 +4.0 -1.0 0.0
OVERALL ECONOMY Manufacturing Sector
Longer-Term Direction
Growing Growing
Contracting Growing Slowing Growing Too Low
Increasing Growing Growing Growing Growing Growing
Comments from those surveyed “reflect optimism in terms of demand and growth in the near term,” although many said that cold weather had dampened business in February, said Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Man- agement Manufacturing Business Survey Committee. For more information, visit
http://tinyurl.com/ISMMfgReport. ME
Openings & Expansions
ABB (Zurich, Switzerland), the leading power and au- tomation technology group, has opened its fifth factory in Brazil. The new plant is part of a $200-million investment to expand ABB’s technology development and production capacity to serve increasing domestic demand from indus- tries such as petrochemicals, pulp and paper, oil and gas, and mining, as well as energy. Methods Machine Tools Inc. (Sudbury, MA), a supplier of precision machine tools, automation, and accessories, will hold a grand opening event at its new San Francisco-area technol- ogy center May 14 and 15. The 10,280-ft2 (955-m2) facility at
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ManufacturingEngineeringMedia.com | April 2014
650 Whitney, San Leandro, was established to support manu- facturing in Northern California, Oregon and Washington. The event will feature technical seminars as well as demonstrations of automation solutions.
Mergers & Acquisitions
Waukesha Metal Products (Sussex, WI), an international metalforming supplier, on Feb. 3 announced it has finalized the acquisition of Revstone Fabrication San Luis Potosí S de RL de CV, located in San Luis Potosí, SLP, Mexico. The acquisition expands Waukesha’s footprint in the NAFTA re- gion, and offers logistics solutions to current customers with locations in Mexico. Waukesha Metal Products de México will also provide much-needed capacity, allowing continued growth in their US operations. Private equity firm Irving Place Capital (IPC; New York)
and Victor Technologies (St. Louis) on Feb. 12 announced that they have entered into an agreement to sell Victor to Col- fax Corporation (“Colfax”, NYSE: CFX), a global manufacturer of gas- and fluid-handling and fabrication technology prod- ucts. The all-cash transaction values Victor at approximately $947 million, including the assumption of debt, and is subject to customary closing conditions. Victor is a leading designer and manufacturer of a comprehensive suite of metal cutting, gas control, and specialty welding products. IPC acquired Victor, which was previously named Thermadyne Holdings Corporation, in a take-private transaction in December 2010.
Announcements
The National Association for Surface Finishing (Wash- ington, DC; NASF) on Feb. 19 announced the release of Advanced Surface Technology. The book is regarded as a comprehensive up-to-date reference for a wide range of coating and finishing applications. For more information, visit
http://www.nasf.org. C&M Technologies (Wauregan, CT), a leading supplier of wire and cable products for military, industrial and medical sys- tems, has launched a new website,
www.cmcorporation.com.
Events
Mazak (Florence, KY) invites aerospace, medical and other part manufacturers to its DISCOVER MORE WITH MAZAK
Source: Institute for Supply Management
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