Deere reviewing its options for John Deere Water
Deere & Company is in the process of reviewing its strategic options for its John Deere Water irrigation operations.
Deere stated that it remained commmitted to effective water management and its important role in global agriculture. Deere intends to continue offering products and services in this area, as well as enhancing existing products such as John Deere Field Connect, its in-field moisture sensing and climate monitoring system.
Deere has been working in the irrigation products market for the past seven years and is a prominent manufacturer of full-line drip irrigation products.
The company has retained Bank of America Merrill Lynch as its exclusive financial advisor during this period. A formal decision has yet to be made.
Quanex’s net income increases in Q3
Quanex Building Products reported growth in the third fiscal quarter of 2013, with net income up from $1.5 million to $5.0 million.
Net sales for the building materials company came in at $259 million, up from 2012’s figure of $237 million. Quanex experienced the most growth in its window and door parts unit (known as the Engineered Products Group), which rose 17% to $156.8 million in sales. Its aluminum sheet business declined 2% to $105.2 million.
Net income for the third quarter was $5.0 million, up from 2012’s $1.5 million. However, net income was still operating at a loss for the nine months ended July 31, with 2013 coming in at a loss of $10.5 million, up from 2012’s $17.5 million.
According to a company statement, third quarter results improved due to the pickup in sales under the Engineered Products Group, as well as cost savings resulting from its insulating glass systems facility consolidation in 2012.
USG announces user-friendly waterproofing system for tiled showers
USG Corporation has launched a new waterproofing system for tiled showers. The Durock Shower System is a fully bonded waterproofing system that features easy installation and controls moisture independently of the tile covering.
The system streamlines the installation process via pre-sloped foam shower trays (versus the typical dry pack mortar shower bases). Durcok also features a thin, pliable waterproofing membrance and an easily installed drain assembly.
"We are very proud to offer an affordable, higher quality system that will enable faster job turnover and higher profits for our customers," says Scott Crandall, business manager, Substrates and Specialty Division at USG. "We put an abundance of research and engineering into this system to ensure a best-in-class solution that outperforms the competition."
The product is designed for both new construction and repair or remodel projects, with more than 50 grate options in 10 different finishes.