ISMA New Order Index climbs in November
Channellock names VP of manufacturing and engineering
Simpson Strong-Tie launches installation training program
Durable goods orders fall 3.1 percent in November
Reelcraft owner names new president
Best Software parent to acquire ACCPAC for $110 million

ISMA New Order Index climbs in November
The Industrial Supply Manufacturers Association's (ISMA) New Order Index increased to 162.5 in November from 157 in October, according to an ISMA report. The index was flat, compared to November 2002.

The Federal Reserve Board's Durable Manufacturers Index was up to 129.3 in November from 127.6 in October and up from 122.2 in November of last year. The index reached its highest mark since November 2000.

Durable goods are items with a normal life expectancy of three years or more, such as autos, furniture, appliances and mobile homes.

The Conference Board's Index of Leading Indicators increased in November to 114.2 from 113.9 in October. It was also up from 111, the mark set during November a year ago.

The 10 Leading Indicators are: building permits, average weekly initial claims for unemployment insurance (inverted), interest rate spread, real money supply, index of consumer expectations, vendor performance, stock prices, manufacturers' new orders for nondefense capital goods, manufacturers' new orders for consumer goods and materials, and average weekly manufacturing hours.

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Channellock names VP of manufacturing and engineering
Channellock Inc. named Jonathan S. DeArment vice president of manufacturing and engineering, effective Dec. 22.

As vice president of manufacturing and engineering, DeArment oversees all facets of the company's production processes and internal production support areas including engineering, quality assurance, maintenance, planning and scheduling. A member of the board of directors since October of 2002, DeArment plays a direct role in guiding Channellock business strategies.

DeArment has been employed by the company since 1996, serving most recently as director of manufacturing and engineering operations. He represents the fifth generation of family management for the 117 year-old international manufacturer of pliers and assorted specialty hand tools.

DeArment has had a key role in the implementation of a closed loop operating system and various other lean manufacturing initiatives. Under his manufacturing leadership, the company embarked on a number of aggressive initiatives aimed at increasing manufacturing efficiency, reducing overhead and continually improving the safety of the work environment.

He was also responsible for the implementation of the company's clean, dip and grip operation, the culmination of an aggressive, research-intensive project that earned Channellock a Governor's Award for Environmental Excellence in 2002 after eliminating the company's dependence on chlorinated solvents for the cleaning and degreasing of pliers.

DeArment and his wife reside in Meadville, Pa., with their three children. He is a graduate of Gannon University in Erie with a bachelor's degree in business management.

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Simpson Strong-Tie launches installation training program
Simpson Strong-Tie is launching a bilingual training program for builders and trade contractors to assist in improving product installation and inspection. The program will be available in English and Spanish, and is designed to increase efficiencies and decrease cycle times.

The program is currently under review for the National Association of Home Builders (NAHB) Research Center’s – National Housing Quality Certification. 

Simpson is piloting the program and will be the first building products manufacturer to qualify for certification. The training materials explain, step-by-step, the correct installation of connectors and fasteners, and include self-training workbooks, a video and a CD-ROM. Training is administered at the jobsite by a Simpson representative and typically occurs during the lunch hour to minimize downtime.

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Durable goods orders fall 3.1 percent in November
New orders for manufactured durable goods in November fell $5.7 billion or 3.1 percent to $180.1 billion, according to the Department of Commerce. This was the largest percent decline since September 2002 and follows a 4 percent October increase.

Year-to-date, new orders for 2003 were 2 percent above the same period a year ago.

Excluding transportation, new orders decreased 3.7 percent, and excluding defense, new orders decreased 2.9 percent.

New orders for machinery declined 0.9 percent and new orders for computers and electronic products plummeted 10.8 percent. New orders for capital goods were down 6.2 percent.

To read the entire report, click here.

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Reelcraft owner names new president
Reelcraft Industries Inc. owner and president Stan Penn Jr. recently named Walt Sterneman president of Reelcraft Industries, CEO of Nordic Systems and CEO of Reelcraft International European Branch. Penn will continue his involvement in the organization as chairman.

“It is my pleasure to announce that after 30 years at the helm of Reelcraft, I have decided to retire from the day-to-day activities of presiding over the company," said Penn. "I will therefore be freed to concentrate on the interesting components of further developing the overall corporate strategies for our continued growth.”

“Reelcraft is a highly innovative company in our product development and in our manufacturing techniques," said Sterneman. "We are the only reel manufacturer to hold ISO 9001 accreditation and we lead the industry in developing new markets. Our lean manufacturing program also sets us apart. We are now in our fourth year of lean manufacturing and second year of Six Sigma programs.”

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Best Software parent to acquire ACCPAC for $110 million
Best Software Inc.'s U.K.-based parent company, The Sage Group plc, agreed to acquire Pleasanton, Calif.-based business management software vendor ACCPAC International Inc., a subsidiary of Computer Associates International Inc., for an equity value of $110 million.

ACCPAC has net cash of $4 million, giving an enterprise value of $106 million. The acquisition will be paid for in cash. The acquisition is subject to regulatory approvals and is expected to be completed by the end of February.

“With the addition of ACCPAC’s integrated, end-to-end business management applications, Best Software will be better positioned to serve small and medium-sized businesses in North America,” said Best Software CEO Ron Verni. “This acquisition reinforces our strength in key vertical areas while giving our customers additional quality products to choose from as part of the Best Software brand.”

ACCPAC offers a comprehensive suite of end-to-end business management applications including accounting, CRM, HR, warehouse management, manufacturing, EDI, and point-of-sale. Globally, ACCPAC is expected to add more than 540,000 business customers to Best Software’s nearly 1.8 million small and medium-sized business customers in the U.S.

ACCPAC customers are served through a channel of more than 7,000 business partners worldwide, which complements, with very little overlap, Best Software’s channel program of more than 6,600 partners in North America.

According to ACCPAC, its revenue for the year ended March 31, 2003, was $88.7 million, and its operating profit was $10.3 million (after adding back charges for the amortization of purchased goodwill). Its net assets at March 31, 2003, were $8.2 million.

For Sage, this acquisition brings a number of strategic benefits worldwide. The addition of ACCPAC will strengthen Sage’s business in Australia and South Africa, complementing Sage's existing operations, and will provide an entry into Asia with a strong position in Singapore. In addition, ACCPAC Online, which offers hosted accounting, CRM and other business applications, provides an attractive alternative to Sage's desktop solutions.

For Best Software, ACCPAC also strengthens the company’s overall North American position, especially in Canada. Since 1998, Best Software has made 15 acquisitions in the North American market worth more than $1.4 billion.

"One of ACCPAC’s greatest assets is its knowledgeable employee base, which will further strengthen our understanding of the small to medium-sized business market and enhance our ability to develop and market the right solutions for this segment. We believe this is a tremendous asset that distinguishes Best and Sage in the marketplace," said Verni.

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