Electronic Insight in the welding and gas industry

Inside this issue:• Quarterly Reports• Industry Updates & News• Product Announcements

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Quarterly ReportsLincoln Electric Tops Street 2Q ForecastsCLEVELAND (AP) _ Lincoln Electric Holdings Inc. (LECO) reported their second-quarter results:• Sales of $626.9 million, 5.8% increase verses last year.

• 3.2% on higher volumes• 2.6% from price increases

• Net Income of $61.4 million compared to $31.3 million last year. • Lincoln Electric shares have climbed 22 percent since the

beginning of the year. The stock has climbed 52 percent in the last 12 months.

• Lincoln Electric completed the acquisition of Air Liquide Welding (a subsidiary of Aire Liquide) for approximately $134 million.

Worthington Beats 4Q Profit ForecastsCOLUMBUS, Ohio (AP) _ Worthington Industries Inc. (WOR) reported fiscal fourth-quarter results. • Net Sales of $845.3 million, up 7% from last year• Net Earnings of $56.5 million, down from $58.5 million. This is

due to a $6.9 million pre-tax gain related to a consolidation. • Pressure Cylinders net sales totaled $231.5 million, up 6% over

last year’s quarter. • For the year, the company reported profit of $204.5 million, or

$3.15 per share. Revenue was reported as $3.01 billion. Worthington shares hit $47.36, a climb of 28 percent in the last 12 months.

• June 2, 2017 Worthington acquired Amtrol, a leading manufacturer of pressure cylinders and water system tanks with operations in the U.S. and Europe for approximately $283 million.

Quarterly Reports

Colfax (ESAB Parent Company) Colfax Corp. (CFX) reported secondquarter results:• Total Sales of $471 million compared to $483.7 million last year. • Net Income of $58.5 million verses $44 million last year.Colfax shares have increased roughly 8 percent since the beginning of the year. The stock has risen 49 percent in the last 12 months.

Nucor CHARLOTTE, N.C. (AP) _ Nucor Corp. (NUE) reported second-quarter results:• Net Sales increased 22% to %5.17 billion from $4.25 billion last

year. • Total tons shipped were 6.75 million, a 5% increase

compared to last year. • Net Earnings totaled $323 million compared to $243.6 million

last year.The stock has risen nearly 9 percent in the last 12 months.

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Quarterly ReportsKimberly-Clark Beats Profit Expectations, sees 2017 earnings at low end of range.Kimberly-Clark Corp. (KMB) reported second-quarter net profit of $531 million, or $1.49 a share, down from $566 million, or $1.56 a share, in the same period a year ago. Revenue fell 1% to $4.55 billion from $4.59 billion. Personal care revenue declined slightly to $2.3 billion, while consumer tissue revenue declined 2% to $1.5 billion. The company cut its 2017 sales outlook to be "similar, or up slightly" from a year ago, compared with its previous outlook of up 1% to 2%. The stock has gained 8.5% year to date.

Illinois Tool Works (Miller Electric Parent Company) Reports 2nd Quarter results. GLENVIEW, Ill. (AP) _ Illinois Tool Works Inc. (ITW) reported second-quarter results:• Total revenue of $3.6 billion, an increase of 4.9% (organic growth of

2.6%)• 2nd quarter net income was $587 million compared to $525 million

last year• The Welding Segment (Miller Electric) posted total revenue of $385

million ($375 million last year) with a operating margin of 27.2%. The operating margin increase is 230 bps.

• Illinois Tool Works shares have climbed 20 percent since the beginning of the year.

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Quarterly ReportsEssendant Reports Second Quarter 2017 ResultsRevenue declined 6.9% to $1.3 billion, compared to $1.4 billion in the prior year quarterJanSan Products: revenues of $339.4 million, a decrease of $(32.0) million or 8.6%, primarily driven by declines in the national retail channel. Technology Products: revenues of $300.2 million, a decrease of $(42.6) million or 12.4%, because of reduced supplier promotions and declines in the national retail channel and the independent dealer channels. Traditional Office Products: revenues of $181.3 million, a decrease of $(21.2) million or 10.5%, due to sales declines in the independent dealer channel and the national retail channel. Industrial Products: revenues of $145.6 million, an increase of $2.4 million or 1.7%, due to growth initiatives and energy market recovery. Cut-sheet Paper Products: revenues of $106.3 million, an increase of $4.8 million or 4.7%, primarily driven by independent dealer channel sales increases. Automotive Products: revenues of $82.1 million, an increase of $1.6 million or 2.0%, driven by growth initiatives. Office Furniture: revenues of $67.9 million, a decrease of $(6.7) million or 9.0%, primarily driven by sales declines in the independent dealer channel.

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Quarterly ReportsAir Products Reports Strong Fiscal 2017 Third Quarter ResultsLEHIGH VALLEY, Pa. (April 27, 2017) – Air Products (NYSE: APD) • Total sales of $2.1 billion, an increase of 11% from the prior year

• 8% on higher volumes and 5% due to favorable energy pass-through. 2% reduction due to unfavorable currency.

• Net income was $363 million, up 16% from last year.AP was awarded expanded supply to Marathon Petroleum in Garyville, Louisiana, as well as new industrial gas projects in New York and China; hydrogen/air separation unit project in India fully onstream; air separation unit project in China onstream.

Trimas Corp. (Norris Cylinder Parent Company) Reports 2nd Quarter results:• Net Sales of $213.4 million and increase of 4.9%.• 2nd quarter net income was $14.85 million compared to $10.48

million last year• Engineered Components Segment (Norris Cylinder and Arrow Brands)

total sales were $33.56 million compared to last year sales at $31.17 million.

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Quarterly ReportsChart Industries Reports Strong 2017 Second Quarter Results• Total 2nd quarter sales of $238.2 million, up from $204.1 million in

the 1st quarter of 2017. • 2nd quarter net income = $2.8 million compared to a net loss of ($2.9)

million for the 1st quarter of 2017. • All three segments have increased order activities and increased

backlogs.

Praxair Reports 2nd Quarter results:• Net Sales of $2.8 billion: an increase of 6%.• 2nd quarter adjusted operating profit was $619 million, up 5% from

last year• North America 2nd quarter sales were $1.505 billion, up 4% from last

year. • Praxair signed a definitive Business Combination Agreement on June

1, 2017 to merge with Linde AG. • Project start-ups in China, Korea and Canada.

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Industry Updates & NewsEsyte Company opens its doors!Esyte Company has officially started doing business withIndustrial/Welding Distributors. Esyte Co. fills a void for distributors bysupplying them with new and innovative products from inspection tools, magnetic products, multi-tools, endoscopes and more. All products are attractively packaged to stand out in your store and improve your bottom line! No purchase minimum and low prepaid freight benefit any size industrial/welding distributor.

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Industry Updates & NewsWhat are the fastest growing sectors for manufacturing?• Transportation Equipment: this sector added 270,000 jobs. A 20%

increase over the last 5 years. • Fabricated Metal Products: This sector employed 109,000 more

over the last 5 years. That’s an 8% increase. • Food Products: This sector added 95,000 jobs which represents a

7% increase over the past 5 years.• Plastics and Rubber Products: This sector added 75,000 jobs

which is a 12% increase over the past 5 years. • Beverages: an additional 66,000 jobs over the past 5 years. An

increase of 39%. • Machinery: This sector added 50,000 jobs, which represents a 5%

increase over the last 5 years.

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Industry Updates & NewsLinde announces production joint venture with Air Products in Glenmont, NY:Linde North America Inc. announced a new production joint venture with AirProducts to build a large scale air separation unit (ASU) and industrial gas liquefier in Glenmont, NY. The 50/50 joint venture will operate under the name East Coast Nitrogen and sill produce liquid oxygen, nitrogen and argon.

Linde completes purchase of Transfill Equipment Supplies and Services, Inc.Linde Gas North America LLC announced that it has purchased the assets andbusiness of Transfill Equipment Supplies and Services, Inc. dba The TESS Company, a supplier of medical oxygen and cylinder testing and repair services to healthcare providers in the Southeast Region of the U.S.

Matheson to build ASU to supply gases for Nucor:Matheson has entered into an agreement with Nucor Corporation to supply tonnage oxygen, nitrogen and argon to Nucor’s mini-mill steel facility in Norfolk, Nebraska. Matheson’s new ASU will augment existing packaged gas and bulk operations supplying customers in the states of Nebraska, Iowa,Minnesota, South Dakota and Kansas. The ASU is scheduled to be completed by December 2018.

Hudson Technologies Inc. announced the acquisition of Airgas-Refrigerants. Airgas-Refrigerants, a subsidiary of Airgas has been acquired by Hudson Technologies for approximately $220 million.

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Product Announcements! Part Number: DT8850HDescription: Now an easy to use infrared thermometer with a digital readout. The DT8850H is designed for industrial applications with a range of -58°F to 1562°F (-50°C to 850°C).

• The Perfect Tool to:

• Precisely preheat metal prior to brazing or welding.

• Assure correct heat treating temperatures.

• HVAC: To find system leaks and check air temperatures.

• Automotive: To check your cooling system, bearings, CV joints, transmission, and more.

• Home: Deep frying temperature, grill or smoking temperatures, checking oven temperature, air conditioning cooling test.

• Temperature Range of -58°F to 1562°F

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Electronic Insight in the welding and gas industry

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