Irwin Tools and Edison Nation search for the next big tape rule
Charlotte, N.C.-based Irwin Tools joined forces with Edison Nation in a search to find new innovations in tape measuring devices that will ease and enhance the experience of professional tradesmen and home users.
“We’ve identified a gap within the marking and layout tools category,” said Ross Porter, president of Irwin Tools. “Our Live Product Search challenges everyday consumers to help us bridge that gap by taking the standard tape measuring device to a new level.”
Edison Nation, an idea-to-shelf developer that frequently partners with major retailers and manufacturers to find innovations through its social community of inventors, is hosting Irwin Tools’ Live Product Search on its secure online platform now through Sept. 12. It costs $25 to submit an idea for consideration.
The companies recommend submitted ideas should be "durable, user-friendly and high-quality, while remaining within the targeted price point of $15 to $25."
Chosen ideas will receive a $2,500 advance and may be selected to receive a percentage of future sales.
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Pet product companies merge
Contech Enterprises, a pet products supplier based in Victoria, B.C., Canada, has announced the acquisition of G&B Marketing of Vista, Calif. Terms of the deal, brokered by the Lawn and Garden Performance Group, were not disclosed.
Products manufactured by G&B Marketing include the ProCollar, an inflatable collar for pets that is used to prevent pets from bending their necks to chew injured or surgical areas. Two new product launches include the ProCone, a soft, flexible alternative to the rigid cone, and the Tick Twister, a patented tick-removal device for pets.
Contech is best known for its pet feeding and watering devices, such as the EatBetter and DrinkBetter bowls and the WaterDog automatic outdoor water fountain.
Contech is also known for
Contech is also known for it's dog tags for dogs along with the EatBetter bowls. This merger will allow these two companies to develop a business plan that will benefit them both instead of competing for the same market. Both pet product companies can reduce costs this way because they can make a joint distribution of their products.
Weather, raw material costs impact results at Central G&P
Central Garden & Pet, a leading supplier of seeds, pottery, insecticides and other outdoor living products, reported net sales for its third fiscal quarter of $484.3 million, a 4% increase over the same period in 2010. The company said its sales gains were largely driven by the garden products segment, which reported sales growth of 6% for the quarter.
Third-quarter operating income was $36.6 million, compared with operating income of $52.6 million in the year-ago period. Net income for the quarter totaled $17.1 million, compared with net income of $25.9 million a year ago.
"We continued to drive solid revenue growth in the third quarter despite a difficult environment," said Bill Brown, chairman and CEO. "However, the continued significant escalation in raw material input costs, together with extreme weather conditions that suppressed our chemical and controls business and altered our product mix, negatively impacted our gross margin and bottom-line results. We have implemented price increases to recover some of the input cost increases, but there is a lag in retailer implementation that impacted the quarter and will continue to cause margin pressure. Our operating income was further reduced by our long-term commitment to strategic investments in marketing and brand building. Although adversely impacted by significant commodity price increases and extreme weather during the quarter, our business remains fundamentally sound. We remain focused on bringing innovative products to the marketplace, driving operational efficiency throughout our operation, and delivering top-line and bottom-line growth over the long term."
Based in Walnut Creek, Calif., Central Garden & Pet is a supplier of lawn, garden and pet products under a variety of brands, including Pennington, Kaytee, Amdro, Sevin, Ironite, Norcal and New England Pottery.
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