Ideal acquires Western Forge
Ideal Industries, Sycamore, Ill., has added to its hand-tool manufacturing capacity with the acquisition on New Year's Eve of Western Forge, a tool manufacturer based in Colorado Springs, Colo. The company makes pliers, screwdrivers and adjustable wrenches at a 345,000-square-foot manufacturing plant in Colorado Springs. The move adds to Ideal's emphasis on “made in America” products and expands its tool offering in OEM and retail markets. Randy Thompson, a 22-year Ideal veteran, will lead Western Forge as general manager.
EIS acquires Fay Wire
EIS Inc., a distributor of electrical insulation and other process materials used in the electrical original equipment manufacturing (OEM) and motor repair markets, announced that they have acquired the assets of Fay Electric Wire Corp., Elmhurst, Ill. Fay is a distributor of electrical process materials to OEMs and repair facilities. EIS, with 2008 sales of $466 million, is a wholly-owned subsidiary of Genuine Parts Co., which also owns Motion Industries.
Strikes on at Chilean copper mines
Industry Week posted a story on Jan. 4 from Agence France Presse that workers at two copper mines in Chile have gone on strike. Miners at Codelco's Chuquicamata and Mina Sur mines, which together account for about four percent of the world's copper production, are calling for a 7.5 percent pay hike. Codelco is owned by the Chilean state, which produces around 1.6 million tons of copper per year and employs around 5,600 workers.
Ballard Power Systems to supply fuel cells for Daimler AG autos
Ballard Power Systems, Vancouver, B.C., will supply Daimler AG fuel cell products for the manufacturer's fuel cell car and bus programs. The agreement provides for minimum revenue of approximately $24 million over eighteen months from April 2010, with roughly equal distribution in 2010 and 2011. Ballard is a clean energy growth company with product leadership in fuel cell power solutions, focused on the material handling and stationary power markets.