| Mekar opens Middle East office
The brand has been installed in iconic projects in Dubai including Burj Dubai, Burj Al Arab, Dubai Mall amongst several others. Mr. Giuseppe Boaro, President of Mekar, Italy made this announcement on the occasion of the Big 5 Show, where the company is displaying its wide range of air conditioning equipment. Boaro said, 'This move is essential due to the growing demand for Mekar airside equipments and its increasing popularity for iconic projects. We are setting up our own central warehousing and distribution facility in the UAE to meet our clients' mounting requirements and at the same time provide efficient support to our distributors in the region Royal Gulf. Mekar has plans to increase its market penetration in Qatar, Bahrain and Kuwait through this office.' Mekar's AHUs and FCUs have been installed in more than 150 prestigious projects in the UAE including iconic projects 'The Burj Tower' slated to be the tallest tower in the world and the Burj Al Arab Hotel - the only seven star Hotel in the world.
German Firm To Bring 289 Jobs
A German company that makes compressors for industrial air-conditioning and refrigeration equipment is planning to open a manufacturing facility employing 289 people in the East Syracuse area, state officials say. Gov. Eliot Spitzer mentioned the plans by Bitzer Scroll in his State of the Upstate address Jan 16 in Buffalo, but he made no mention of it when he spoke later the same day to the Greater Syracuse Chamber of Commerce's economic forecast luncheon. A Bitzer Scroll representative said Monday the company was planning a formal announcement about its plans and he could release no details until the announcement was made. State and local officials would normally make a big deal when a manufacturer decides to open a plant and create nearly 300 local jobs.
Stocks to buy: Blue Star, Ruchi Soya, Simplex Infra, Kalyani Steels
Kotak Securities has a ‘buy' rating on the central air-conditioning systems major Blue Star, as it feels it will report handsome earnings growth over the next two years (CAGR of 78% between FY07 and FY09). The company being in a position to offer the best requirement for central as well as commercial refrigeration equipment enabling it to maintain a leading market position in this segment, remains one of the key reasons for its bullishness.
The brokerage also feels that the stock is a play on structural themes like IT/ITeS and retail. However, the brokerage warns that appreciation in the rupee and slowdown in IT/ITeS services remain key concerns. Kotak calculates that at the current price, BSL is trading at 25.1x and 19.3 times FY08 and FY09 earnings, respectively, and on a forward EV/EBITDA basis, the stock is trading 12.6 times.
Watsco, Incorporated Earnings Conference Call (Q4 2007)
Watsco, Inc., along with its subsidiaries, distributes air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States. Its products primarily comprise residential central air conditioners; light commercial air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment and systems; and other specialized equipment. The company also offers various parts, including replacement compressors, evaporator coils, motors, and other component parts; and supplies consisting of thermostats, insulation material, refrigerants, ductwork, grills, registers, sheet metal, tools, copper tubing, concrete pads, tape, adhesives, and other ancillary supplies. Watsco operates through approximately 380 locations in 32 states. It distributes its products to contractors and dealers who service the replacement and new construction markets.
German company to open new plant in Syracuse suburb
SYRACUSE, N.Y. - Gov. Eliot Spitzer says a German company that makes compressors for industrial air conditioning and refrigeration equipment will open a new manufacturing facility in suburban Syracuse.
The governor says the Bitzer Scroll plant will employ nearly 300 people in high-end engineering and manufacturing jobs. The plant will open in a former General Motors factory in the town of Salina.
Bitzer officials promise to invest $30 million into the new facility over the next five years.
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Iveco LMV: Dangerous World
"You will be entering a world we seldom show to anybody," said the Fiat Group PR. How secret? Well, Iveco's British and Italian PR bosses admitted that they had never set foot in the headquarters of their shadowy military vehicles division. And the degree of security became even more evident when, after a slight wrong turn, our car was stopped by the very formal Carabinieri, who demanded to see our credentials, which they cross-checked with the ex-police factory security. When we did arrive, our passports were taken and the security police banned photographer Andrew Crowley from taking pictures of anything at all - strangers aren't warmly welcomed round here. .
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