Commercial Metals Company (“CMC” or the “Company”) announced financial results for its fiscal first quarter ended November 30, 2020. First quarter earnings from continuing operations were $63.9 million, or $0.53 per diluted share, on net sales of $1.4 billion, compared to prior year period earnings from continuing operations of $82.8 million, or $0.69 per diluted […]
Hillenbrand Announces Definitive Agreement to Sell ABEL Pumps to IDEX Corporation
Hillenbrand, Inc. (“Hillenbrand”) announced that it has reached a definitive agreement to sell Abel Pumps, L.P., and certain of its affiliates (“ABEL”) to IDEX Corporation (“IDEX”). The sale follows Hillenbrand’s previously announced intent to exit the ABEL business. Hillenbrand has entered into a Share and Interest Purchase and Transfer Agreement with IDEX, pursuant to which […]
PPG Appoints Bhaskar Ramachandran, Vice President and Chief Information Officer; Chris Caruso to Retire
PPG Industries (“PPG”) announced the appointment of Bhaskar Ramachandran as vice president and chief information officer (“CIO”). Ramachandran will succeed Chris Caruso, current vice president, IT, who has announced his intent to retire, effective March 1, 2021. Ramachandran joins PPG from Jabil Inc., an American worldwide manufacturing services company. As vice president, IT, and CIO of the […]
Report: Fire at Scotch Plywood’s Waynesboro Veneer Mill
According to local news reports, a fire erupted at Scotch Plywood Company, Inc.’s, (HQ: Fulton, AL), Waynesboro, Mississippi veneer mill. WDAM reports that “officials said the veneer mill is considered a complete loss.” Willard H. Crocker, chief of the Waynesboro Fire Department said that, “We estimate approximately $20 million dollars worth of damage, could be […]
La-Z-Boy Appoints Robert Sundy as Chief Commercial Officer
La-Z-Boy Incorporated (“La-Z-Boy”), a global leader in residential furniture, today announced the appointment of Robert Sundy as Senior Vice President and Chief Commercial Officer, effective January 27, 2021. In this capacity, he will report to Kurt L. Darrow, Chairman, President and Chief Executive Officer of La-Z-Boy Incorporated, and will have responsibility for all facets of […]
Relationships at Risk – How much tolerance is too much?
When it comes to credit risk, trusted business relationships can turn sour if trading partners don’t pay attention to warning signs and react in time. Risks and Rewards From the very beginning, there are many things business owners must learn to be successful. One some may find surprising, and risky, is the need and importance […]
Domtar Corporation Announces Sale of Personal Care Business to American Industrial Partners for $920 Million
Domtar Corporation (“Domtar”) announced that it has entered into a definitive agreement to sell its Personal Care business to American Industrial Partners (“AIP”) for $920 million. The sale of Domtar’s Personal Care business represents the culmination of a process announced on August 7, 2020, during which the Company undertook a comprehensive strategic review of value-creating […]
Freddie Mac: Mortgage Rates Hit a New Record Low in January 7th Report
Freddie Mac released the results of its Primary Mortgage Market Survey® (“PMMS”®), showing that the 30-year fixed-rate mortgage (“FRM”) averaged 2.65 percent, the lowest rate in the survey’s history which dates back to 1971. “A new year, a new record low mortgage rate,” said Sam Khater, Freddie Mac’s Chief Economist. “Despite a full percentage point […]
PGT Innovations to Acquire 75% Ownership Stake in Eco Window Systems
PGT Innovations, Inc. (“PGT Innovations”, “we” or the “Company”), a national leader in premium windows and doors, including impact-resistant products and products designed to unify indoor/outdoor living spaces, today announced it has signed a definitive agreement to acquire a 75% ownership stake in Eco Window Systems and its related companies (collectively, “Eco”) for a purchase […]
Dorel Obtains Amending Order for Special Meeting of Shareholders
Dorel Industries Inc. (“Dorel”) announces that the Superior Court of Québec issued an Order Amending the Interim Order issued on December 3, 2020 in connection with a special meeting (the “Special Meeting”) of Dorel shareholders. The Amending Order confirms the new date of February 16, 2021 at 10 a.m. (eastern time) for the Special Meeting […]