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Daily news and top headlines for manufacturing professionals

Mexican Regulators Deny Sherwin-Williams Appeal

October 30, 2013 10:32 am | News | Comments

The Federal Competition Commission of Mexico turned down the deal in July in a 3-2 vote. Sherwin-Williams said it was informed Tuesday evening that its appeal of that decision was denied and the deal is not authorized. It said it is reviewing the commission's reviewing the decision and considering its options.

Rockwell Automation To Acquire vMonitor

October 30, 2013 10:17 am | News | Comments

Rockwell Automation, Inc., yesterday announced its intent to purchase vMonitor, a technology company that creates wireless solutions for customers in the oil and gas industry. Rockwell officials say the deal is expected to close within two months.

Dell Closes On Deal To Go Private

October 30, 2013 8:14 am | News | Comments

Michael Dell and investment firm Silver Lake Partners have completed their $24.9 billion buyout of Dell Inc. The computer company said Tuesday that its shares will stop trading at the end of the day, closing its quarter-century run as a public company.

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AMETEK Acquires Creaform For $120 Million

October 29, 2013 10:57 am | by Joel Hans, Managing Editor, Manufacturing.net | News | Comments

AMETEK, Inc. (NYSE: AME) today announced its acquisition of Creaform, Inc., for approximately $120 million. The Lévis, Canada-based Creaform is privately-held and has annual sales of approximately $52 million, according to AMETEK. It will join AMETEK as part of its Electronic Instruments Group (EIG), which also features advanced monitoring, testing, calibrating, and display instruments.

Mosaic Pays $1.4B For CF Industries Phosphate Unit

October 28, 2013 9:49 am | News | Comments

The Mosaic Co. plans to buy the phosphate business of CF Industries in a deal the fertilizer producer values at about $1.4 billion.The Plymouth, Minn., company will pay $1.2 billion in cash, plus $200 million to fund an escrow account CF Industries maintains for certain environmental obligations related to its Florida facilities.

Philips Scraps Deal To Sell Audio Equipment Unit

October 28, 2013 8:24 am | News | Comments

Royal Philips NV said Friday it is terminating a deal to sell its home audio equipment unit to Japan's Funai Electric Co. due to what is said was Funai's breach of contract. The Dutch electronics giant said Funai refused to take necessary steps to enable the completion of the transaction in the final stage. Philips has not disclosed what exactly happened.

Survey Points To Pick-Up In Global M&A

October 28, 2013 8:17 am | by Pan Pylas, Associated Press | News | Comments

In its half-yearly report into the M&A sector, consulting firm Ernst & Young said it expects both the volume and size of deals to improve over the coming year, with 35 percent of companies surveyed likely to pursue acquisitions compared with just 25 percent a year ago.

Microsemi Buying Symmetricom For $230M

October 22, 2013 7:45 am | News | Comments

Microsemi Corp., which makes semiconductors for power management, said Monday that it agreed to buy atomic-clock technology provider Symmetricom Inc. for about $230 million. Microsemi said it will make a cash tender offer of $7.18 per share, a 51 percent premium over Symmetricom's closing price Monday.

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Tellabs To Be Sold For $891M

October 21, 2013 2:22 pm | News | Comments

Communications equipment maker Tellabs has agreed to be acquired by investment firm Marlin Equity Partners for $891 million. The deal calls for Marlin to buy all of Tellabs Inc.'s shares for $2.45 each in cash. This is a 4 percent premium to its Friday closing price of $2.35.

Carlisle Selling Transportation Unit For $375M

October 21, 2013 2:20 pm | News | Comments

Carlisle, which makes construction materials, parts for vehicles and aircraft, wires and cables, equipment for the food industry and other products, said in July that it was exploring strategic options for the unit and hired SunTrust Robinson CTP to help with the process.

RuMo Group Announces Acquisition Of CECOR

October 21, 2013 2:02 pm | News | Comments

RuMo Group, LLC is proud to announce that it has acquired CECOR, a Verona, WI-based manufacturer of quality coolant sumpcleaners and material-handling carts. CECOR will continue to be headquartered in Verona, Wisconsin and do business under the CECOR brand.

AstraZeneca Buys Spirogen For $440M

October 16, 2013 11:25 am | News | Comments

British drugmaker AstraZeneca will buy cancer drug developer Spirogen for as much as $440 million, according to Auven Therapeutics, which owns Spirogen. Auven said AstraZeneca PLC will pay $200 million in cash for Spirogen, and it could make another $240 million in payments if Spirogen's experimental drugs meet development milestones.

Apollo Files Counterclaim Against Cooper Tire

October 16, 2013 7:36 am | News | Comments

The counterclaim, which Apollo said was filed Monday with the Delaware Court of Chancery, is the latest move in a monthslong battle between the two companies. Apollo is asking for a judgment that Cooper hasn't provided documents and met other requirements for a merger.

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Dow Chemical Sells Unit For $500M

October 11, 2013 10:10 am | News | Comments

Dow Chemical Co. is selling its global polypropylene licensing and catalysts business to W.R. Grace & Co. for $500 million. The sale includes Dow Chemical's polypropylene catalysts manufacturing plant in Norco, La., and customer contracts, licenses, intellectual property and inventory.

Del Monte Pacific Buys U.S. Canned Foods Business

October 11, 2013 8:14 am | News | Comments

Del Monte Pacific Ltd. says it's buying the food business of a namesake U.S. company with top market share in canned fruit and vegetables for $1.68 billion. Del Monte Pacific, which is listed in Singapore and the Philippines, says Friday the deal with Del Monte Foods will add about $1.8 billion to its annual sales and $178 million to operating earnings.

Chemtura Sells Consumer Unit For $315M

October 11, 2013 7:41 am | News | Comments

Chemtura said Thursday that it will sell its consumer products business for $315 million and is exploring a sale of its agrochemicals unit as it focuses on chemicals for the transportation, energy and electronics industries. Chemtura has already been paring back the company, selling its antioxidant business for $200 million earlier this year.

Platform Buying Chemical Maker MacDermid For $1.8B

October 11, 2013 7:38 am | News | Comments

A holding company, Platform, says it is buying MacDermid Inc. for $1.8 billion as a means to build a chemicals business. Platform was created by Martin Franklin, the founder of consumer products company Jarden Corp. Jarden's brands include Crock-Pot, Sunbeam, Coleman and Mr. Coffee.

HanesBrands Closes On $583M Maidenform Deal

October 8, 2013 8:30 am | News | Comments

HanesBrands said Monday that it has closed the acquisition of Maidenform Brands for about $583 million. The combination is the biggest development in the $11.5 billion underwear industry in years. The two companies announced the pact on July 24.   

Cooper Tire, Apollo Tyres Agreement Grows Strained

October 8, 2013 7:31 am | News | Comments

Cooper Tire & Rubber Co. shares are plunging Monday as its $2.2 billion deal with Apollo Tyres Ltd. becomes more uncertain. India's Apollo is seeking a lower price than the original $35 per share it offered Cooper because of added talks for union matters.

Solvay Buys U.S. Chemical Firm In $1.3B Deal

October 7, 2013 9:15 am | News | Comments

Belgian chemical company Solvay says it's buying privately-held U.S. firm Chemlogics for $1.3 billion to strengthen its position in the market servicing the fast-growing oil and gas industry. Solvay SA said Monday the acquisition, expected to close by the end of the year, will enable it to take advantage of the U.S. energy sector's dynamic growth.

Darling Buying Vion Holding Unit For $2.17B

October 7, 2013 8:38 am | News | Comments

Food recycling company Darling International Inc. is buying a unit of Vion Holding N.V. for about 1.6 billion euros ($2.17 billion). The Irving, Texas, company said Monday that the acquisition will help to diversify its product line.     

Accenture Buying Procurian For $375M

October 4, 2013 7:37 am | News | Comments

ICG Group Inc. said Thursday that it is selling its procurement subsidiary Procurian Inc. to Accenture PLC for $375 million in cash.The deal allows ICG to focus solely on its cloud computing business and builds Accenture's consulting services.    

CTS Selling Unit To Benchmark Electronics For $75M

October 3, 2013 8:48 am | News | Comments

CTS is selling its electronics manufacturing solutions business to Benchmark Electronics Inc. for $75 million. Elkhart, Inc.-based CTS said Thursday that the transaction allows it to concentrate on its components and sensors business and provides more capital for higher-margin businesses.

Cerberus Interested In BlackBerry

October 3, 2013 7:38 am | by Rob Gillies, Associated Press | News | Comments

Cerberus is looking to sign a confidentiality agreement with BlackBerry that would allow it to access the company's private information, an official familiar with the situation said Wednesday on condition of anonymity. The official spoke on condition of anonymity because the person was not authorized to discuss the private talks.

Monsanto Loss Widens, Announces $930M Acquisition

October 2, 2013 1:46 pm | by Matthew Perrone, AP Health Writer | News | Comments

Agricultural business giant Monsanto Co. reported worse-than-expected losses for its fiscal fourth quarter on Wednesday, due to lower sales of its genetically engineered seeds.The company forecast for fiscal 2014 also came in below Wall Street expectations, and it revealed plans to buy farming software and data firm The Climate Corporation.

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