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October Business: The Crossing Company Acquires The HDD Company; Pipefusion First Canadian Outlet for Connectra Fusion Tools; CONTECH Launches Grreen Concrete
Unlike regular concrete, 2X Green is made from partly recycled materials such as silica fume and fly ash, a byproduct of coal-fired power plants. 2X Green, manufactured by CWR, provides twice the durability and up to a 70 percent reduction in CO2 when compared to standard concrete used in drainage and underground infrastructure.
In other news, CONTECH announced a price increase of 17 percent for its corrugated metal products, effective on Aug 1. 800.338.1122, www.contech-cpi.com
PFERD has established a new headquarters in Canada. The new location is at 5570 McAdam Rd., Mississauga, Ontario L4Z 1P1; ph: (905) 501-1555 or toll free: (866) 245-1555; fax: (905) 501-1554.
PFERD manufactures more than 10,000 PFERD brand grinding, cutting and surface finishing tools; and a complete range of Advance Brush power and maintenance brushes.
Deere & Co.
Deere & Co. has realized a worldwide net income of $420 million for the third quarter ended July 31, compared with $575.2 million for the same period last year.
Worldwide net sales and revenues declined 24 percent, to $5.885 billion, for the third quarter. Net sales of the equipment operations were $5.283 billion for the quarter, compared with $7.070 billion last year.
Company equipment sales are projected to be down about 21 percent for the full year and down about 34 percent for the fourth quarter. Deere’s net income is anticipated to be about $1.1 billion for 2009, despite the largest expected single-year sales decline in at least 50 years.
Construction and forestry equipment sales declined 47 percent for the quarter, resulting in operating losses of $28 million. Last year, the division had operating profit of $93 million for the same period. In response to the severe decline, Samuel Allen, president and CEO, says, “Deere’s construction and forestry business is successfully executing carefully designed plans to adjust expenses and asset levels.” 800.503.3373, www.deere.com
Hendrix Wire & Cable
Hendrix Wire & Cable announces the addition of new drawing and stranding capacity to the Milford Facility. Hendrix has provided primary cable to the utility industry for over 50 years and is a major supplier of 35 kV TRXLP cable to the wind power industry.