MANUFACTURER NEWS
Terex not in discussions to buy Daewoo Heavy Industries
Terex issued a statement last week saying it is not involved in discussions regarding an acquisition of Daewoo Heavy Industries & Machinery. The company said its statement was in response to a report in the media. The press release said Terex generally does not respond to industry rumors, but did so because of the level of inquiries it had received regarding the report.
Atlas Copco to buy 49 percent of its Indian subsidiary
Atlas Copco announced Friday it intends to voluntarily acquire the outstanding 49.01 percent of its Indian subsidiary, Atlas Copco Ltd. A company official said the offer is in line with Atlas Copco’s global philosophy of owning 100 percent holding in its subsidiaries.
Dana to sell FTE brake, clutch operations
Dana Corp. has announced it signed an agreement to sell its FTE brake and clutch actuation systems operations to HgCapital. Based in Ebern, Germany, FTE employs 2,850 people and expects sales of more than $260 million in 2002. HgCapital is a European private equity finance company.
INDUSTRY NEWS
Equipment Data Associates Buys Machinery Data Marketing
Equipment Data Associates, a subsidiary of Randall Publishing Company, Tuscaloosa, Ala., recently acquired Machinery Data Marketing, Clinton, Okla. With the acquisition, EDA becomes the exclusive provider of UCC-1 data to the machine tool and heavy equipment industries. UCC filings track new and used equipment purchases, as well as leases, rent-to-own and refinancing. The information gathered by these filings includes data on the buyer, seller, manufacturer, model and a detailed description of the equipment, among other details.
PEOPLE ON THE MOVE
Paccar’s board has elected David Hovind vice chairman and Tom Plimpton president. Hovind has been with the company 38 years and has been president since 1992. Plimpton joined the company in 1976 and has held management roles in several company units.
RANDALL PUBLISHING NEWS
Randall CEO keeps predecessor’s vision
Randall Publishing CEO Mike Reilly is fond of catchphrases of the “When the going gets tough …” variety. “I’ve got a million of them,” he said. These days, there is one phrase that he keeps turning over in his head. What would Pettus do?
To see how Reilly is handling his new responsibilities as CEO, go to www.tuscaloosanews.com/apps/pbcs.dll/article?Site=TL&Date=20021204&Category=NEWS&ArtNo=212040314&Ref=AR&Profile=1001.
