| 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.
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.
Air Conditioning and Refrigeration Toolbox Manual
For professionals in the air-conditioning and refrigeration installation and repair trade, this book is an essential toolbox guide. Covers compressors, controls, components, motors, pipe, tube, valves and fittings, whole systems, and ozone-friendly refrigerants. Describes physics of vapor-compression and absorption cycles, and operation and installation of complete systems. Complete coverage of tubing: choosing, bending, and installing. Full description of all popular metering devices and electrical and electronic controls, heavily illustrated. 20 pages of troubleshooting for vapor-compression and ammonia systems, metering devices, oil-control systems, for air- and water-cooled condensers, motors and pumps. Standard ACR procedures include draining and adding oil, system startup and cleanup, detecting leaks, recovering refrigerant, drying, evacuating and charging a system, and periodic maintenance.
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.
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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Manufacturing company moving into old GM plant (video)
The old General Motors plant in the Town of Salina is about to have some new life breathed into it. BITZER Scroll, an independent air conditioning and refrigeration company, will be moving into the plant. The move is expected to create around 300 engineering and manufacturing jobs. BITZER Scroll will use a 1.4 million dollar grant from the Empire State Development Corporation to invest in the plant. The company says it will invest 30 million dollars over the next five years. In a press release Governor Spitzer says that BITZER Scroll could have located anywhere in the world, but "the company chose Syracuse and Central New York because we demonstrated the value of our workforce and our knowledge-based resources. " He goes on to say that BITZER Scroll will be the cornerstone of upstate economic revitalization.
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