Industry News

USG Corp.. Chicago-based L&W Supply is a distributor of drywall, ceiling tiles, steel framing and other building materials used by commercial and residential contractors. Terms of the deal were not disclosed and is subject to regulatory approval but ABC expects the transaction to close by December."/>
BRIEF: ABC Supply acquires L&W Supply of Chicago [The Wisconsin State Journal]
PayPal operations center that had been planned for North Carolina, Governor Raimondo said. In April, the California-based online payment company called off plans to open a global operations center with 400 jobs in Charlotte, N.C., because North Carolina had passed a law banning anti-discrimination protections and requiring transgender people to use public bathrooms corresponding to the gender on their birth..."/>
Raimondo: PayPal "looking favorably" at Rhode Island [The Providence Journal, R.I.]
Miller Industries, the world's largest manufacturer of towing and recovery equipment. So, yeah, there will be a celebration in Chattanooga on Saturday, Sept. 10, to mark the tow truck's 100th birthday. Miller Industries will sponsor the festivities, which include a parade of tow trucks rolling through downtown that will stop around 7 p.m."/>
The tow truck was invented in Chattanooga 100 years ago, and yes, there will be a celebration [Chattanooga Times Free Press, Tenn.]
Delta Air Lines reported Friday a $100 million hit to its revenue caused by the system outage last month. The Atlanta-based airline canceled about 2,300 flights in the wake of a power failure on Aug. 8 that was caused by misconfigurations of a backup power supply for its servers. About 300 of the airline's 7,000 servers weren't properly connected to the backup energy source."/>
System outage at Delta cost the airline $100 million in revenue [Star Tribune (Minneapolis)]
Tennant Co. wrapped up a big week with acquisition news from Mexico and a high-profile debut at the U.S. The maker of large and ridable floor cleaners and street sweepers announced Friday that it had bought the assets of Mexican distributor Dofesa Barrido Mecanizado effective Sept. 1. The deal will give Tennant's Mexico operations a broader representation in key regions such as Mexico City, Monterrey, Guadalajara, and Puebla, officials said."/>
Tennant buys Mexican distributor, gets exposure at U.S. Open [Star Tribune (Minneapolis)]
Jet Airways India Ltd has started streaming audio and video content to passengers' laptops and mobile on its flights from Friday and will offer Wi-Fi soon. "Streaming of content on personal devices has become extremely popular globally, and we are confident that this initiative will appeal to all our guests especially the millennials who prefer to access content on the move," Gaurang Shetty, director of Jet Airways, said in a statement. The service named Jet Screen..."/>
Jet Airways starts video streaming, to launch Wi-Fi soon [Mint, New Delhi]
Accuride Corp., which makes truck wheels at its plant on East 12th Street, will soon have a new owner. Crestview Partners, a private equity firm based in New York City, has agreed to acquire the company, which has its headquarters in Evansville, Ind. Accuride, a supplier of wheels, components and assemblies, employed about 270 workers at its Erie plant in 2012."/>
Erie plant's parent company sold [Erie Times-News, Pa.]
Universal Forest Products is acquiring idX Corp., an Earth City-based manufacturer of custom furniture and fixtures for retailers, restaurants and hotels, for $162.5 million. Grand Rapids, Mich.-based Universal Forest Products is paying $68 million to acquire idX's stock in addition to paying $94.5 million to retire idX's debt and other financial obligations, the company said in a regulatory filing. The acquisition is slated to close by the end of the third quarter...."/>
Michigan company buying Earth City-based idX [St. Louis Post-Dispatch]
Reinsurance Group of America devoted the first sentence of its first-quarter report to "operating income," marked with an asterisk. Net income was relegated to the second sentence."/>
SEC puts limits on rose-colored earnings reports [St. Louis Post-Dispatch]
Tennant Co has acquired the assets of it Mexico distributor Aguascalientes, Mexico-based industrial machinery distributor Dofesa Barrido Mecanizado S.A. de C.V., the company said. The transaction closed on 1 September 2016, and terms were not disclosed. Tennant completed the acquisition through its existing Mexican subsidiary, Tennant Sales and Services of Mexico."/>
US Cleaning Equipment Firm Tennant Acquires Mexican Distributor Dofesa

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