Business briefs

Russia blocks Siemens industrial acquisition

Siemens AG, the German industrial conglomerate, has been blocked by the Russian government from acquiring a controlling stake in Russia's top power engineering company because of concerns the acquisition could compromise Russian security. Siemens appeared to be on track to acquire 73% of Power Machines's shares for $200 million to $300 million, but the deal was halted by Russia's Federal Anti-Monopoly Service on grounds that foreign companies are prohibited from participating in the manufacture of military equipment. A Russian industrial analyst said to the Associated Press that "In Russia it's quite dangerous to announce these big mergers or acquisitions without first consulting."

Calgary shop in Siemens repair agreement

Kadon Electro Mechanical Services Ltd. of Calgary, Alberta, has signed an agreement with the Industrial Applications " Division of Siemens Power Generation under which Kadon will act as authorized regional repair and warranty center for Siemens steam turbines, compressors, generators, and pumps for customers " in western Canada and the U.S. Northwest. Kadon has the capability of repairing, refurbishing, balancing, and testing the Siemens turbomachinery line to approved specifications.

Regal-Beloit selling Illinois Gear division

Motion control and power generation supplier Regal-Beloit of Beloit, Wis., has announced plans to sell its Illinois Gear open gear division to Overton Gear and Tool Corp. of Addison, 111. The sale of the business is expected to reduce sales for RegalBeloit by about $7 million annually and have "a negligible impact on earnings," according to the company.

IRD Balancing opens new office in Mexico

IRD Balancing of Westerville, Ohio, manufacturer of balancing and monitoring equipment, recently opened an office in Colonia Atlantida, Mexico. IRD also has a business location in SaltneyChester, England.

Long Island distribution center for Cooper

Houston-based industrial manufacturer Cooper Industries recently opened a Long Island distribution center for its Cooper BLine brand of support systems and enclosures for the mechanical, electrical, and telecommunications industries. The new distribution center, located at Cooper's Hicksville, N.Y., lighting manufacturing plant, employs seven people. Together, Cooper Lighting and Cooper B-Line employ over 200 at the facility.

GE division buys fire detection business

GE Infrastructure, of Wilton, Conn., recently bought Edwards Systems Technology, the fire detection business of SPX Corp. of Charlotte, N.C. The business will become part of GE Infrastructure, Security's Engineered Systems business, which markets infrastructure production and productivity products.

New sales representatives

Staco Energy Products of Dayton, Ohio, manufacturer of circuit testing and protective instruments and devices, recently appointed several new sales representatives. The new reps and the regions they cover are: Joe Bertsch Sales Co. of Cedar Rapids, Iowa, covering Iowa, Nebraska, and Rock Island, 111.; U.S. Industrial Sales of Tempe, covering Arizona; and Stevens Sales Co. of Salt Lake City, covering Utah.

Baldor celebrates its 85th anniversary

Motor, drive, and generator manufacturer Baldor Electric Co. of Fort Smith, Ark., celebrated its 85th anniversary in March. The company was founded in St. Louis in 1920 by E.G. Ballman and E. Doerr. The company reported last month that first-quarter profit was up over the first quarter of 2004, from $7.4 million to $9 million. Net sales rose 12%, to $170.6 million. The company attributed the increases to improved sales of motors and drives.

Illinois stamping company expands plant

Buhrke Industries LLC of Arlington Heights, III, a supplier of precision metal stamping and assemblies to the automotive and appliance industries, recently expanded its main manufacturing facility. Added to the Arlington Heights facility were 20,000 square feet of manufacturing space and 10,000 square feet of tool room area. New presses and a new multi-sensor vision system were also installed.

Financial briefs

* Eaton Corp. of Cleveland reported that first-quarter profit was up 40% over the same period the year before on increased sales in its electrical products and truck businesses. Revenue rose 18% to $2.65 billion, including a 39% increase in electrical product sales to $848 million.

* Insulation manufacturer Albany International of Mansfield, Mass., reported that net sales for the fourth quarter of 2004 were $238.4 million, a 3.1% increase over the same period in 2003. Excluding the effect of changes in currency exchange rates, net sales for the period decreased 1.8%.

* St. Louis-based Emerson Electric Co.'s profit jumped 22% the fourth quarter of 2004, to $297 million, over the fourth quarter of 2003. The company attributed the increase to a surge in sales for all five of its segments: process management, appliance and tools, climate technologies, industrial automation, and network power.

* Cleveland-based industrial equipment and tool provider Eaton Corp. posted a 61% increase in quarterly profit in January "due to strong sales in its electrical, fluid power, and truck businesses," according to Reuters. Net profit for the quarter rose to $183 million from $114 million.