StarMine’s top-ranked analyst at picking Electrical Equipment stocks, Alex Rygiel, of Friedman, Billings, Ramsey, gave us his thoughts on the outlook for this industry in 2007: The Big Trend
Electrical equipment companies have had two good years and while this growth will continue into 2007, some consolidation among these companies is likely. The industry has been looking for ways to return money to investors. The Unconventional Wisdom
Wall Street seems to be somewhat cautious on the weakening residential market and what its impact will be on the nonresidential market. Rygiel believes that the non-residential market will remain at least stable, which is good news for the electrical equipment industry.
Thursday, December 21, 2006
Areva, Alstom, & Schneider Electric Fined in Switchgear Cartel
Report12.14.06, 3:51 AM ETPARIS (AFX) - The European Commission is expected next Wednesday to impose fines on Areva, Alstom and Schneider Electric for forming a cartel in gas insulated switchgear, Les Echos reported, without naming its sources.Other companies likely to be fined include ABB Ltd , Siemens AG , Mitsubishi and Hitachi, the business daily said.Gas insulated switchgear is used to regulate flow of electric current and is bought mostly by state-owned power companies and local authorities, with private companies amounting to about a quarter of the market, the report said.The commission's expected action follows raids on the companies in 2004.The size of the fines remains unknown but the sanctions are likely to lift the value of the anti-cartel fines imposed by the commission this year to above 2 bln eur from 1.8 bln up to the end of November, Les Echos added.equitynext@afxnews.com
Eaton Electrical to close Puerto Rico Circuit Breaker Plant
Eaton Electrical to close Puerto Rico Plant
SAN JUAN, Puerto Rico (AP) -- Eaton Corp. will close a circuit breaker assembly plant in Puerto Rico and shift the work to another factory in the U.S. island territory and to the Dominican Republic, a company spokeswoman said Wednesday.The company will phase out production at the plant in Cabo Rojo, in southwestern Puerto Rico, over the next 18 months and eliminate 315 full-time positions and 70 temporary ones, said Amanda Mushrush, a spokeswoman for Eaton's electrical division.The production will be shifted to Eaton plants in Arecibo, Puerto Rico, and in Haina, Dominican Republic, Mushrush said.The plant closure is intended to save money by consolidating manufacturing operations, she said. The company's electrical division operates five assembly plants in Puerto Rico, including the one slated to close in Cabo Rojo, and one in the Dominican Republic.Eaton Corp., based in Cleveland, Ohio, has about 60,000 employees worldwide and had sales last year of $US11.1 billion (euro8.3 billion).
SAN JUAN, Puerto Rico (AP) -- Eaton Corp. will close a circuit breaker assembly plant in Puerto Rico and shift the work to another factory in the U.S. island territory and to the Dominican Republic, a company spokeswoman said Wednesday.The company will phase out production at the plant in Cabo Rojo, in southwestern Puerto Rico, over the next 18 months and eliminate 315 full-time positions and 70 temporary ones, said Amanda Mushrush, a spokeswoman for Eaton's electrical division.The production will be shifted to Eaton plants in Arecibo, Puerto Rico, and in Haina, Dominican Republic, Mushrush said.The plant closure is intended to save money by consolidating manufacturing operations, she said. The company's electrical division operates five assembly plants in Puerto Rico, including the one slated to close in Cabo Rojo, and one in the Dominican Republic.Eaton Corp., based in Cleveland, Ohio, has about 60,000 employees worldwide and had sales last year of $US11.1 billion (euro8.3 billion).
Sunday, December 17, 2006
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