Stanley expects steady growth
Stanley Black & Decker released its reaffirmed 2013 guidance and it’s outlook for fiscal 2014 on Thursday, both demonstrating steady organic growth for the company of 3% and 4%, respectively.
Earnings per share fell in the range of $4.90 to $5.00 for 2013, and $5.30 to $5.50 for 2014.
“We made significant progress driving organic growth during 2013 and expect momentum to continue during 2014," said chairman and CEO John F. Lundgren. "The investments we made this year will help us achieve overall organic growth of approximately 4% in 2014 driven by year over year gains within the majority of our businesses, despite a persistent low-growth macro environment. Additionally, benefits from the recent cost reductions and operational actions to improve Security margins will result in strong earnings per share growth while funding continued growth investments and facing significant currency and tax headwinds."
According to the company, security margin improvement is expected to contribute approximately 15 cents per share.
Toro’s ‘Ready. Set. GROW!’ winner announced
Visalia, Calif.-based Shannon Ranch Elementary School has won the top prize of $7,000 in the Toro Company’s ‘Ready. Set. GROW!’ grant program.
Nominations for the contest were submitted in September, after which a panel of judges selected four finalists, who were then asked to submit a video detailing their mission. Toro left it up to the public to vote for the winning finalist in November.
As pledged in their campaign, the school will put the money toward its life sciences program, which will include the installation of a water-efficient drip irrigation system at the school garden.
“We appreciate the opportunity Toro has provided Shannon Ranch through the ‘Ready. Set. GROW!’ grant," said principal Samantha Tate. "We envision our school garden as being an essential component of our life sciences programs, kindergarten through the sixth grade. To have the opportunity to teach our students about the importance of agriculture in education, and how our garden can benefit our school community, is an incredible gift!”
Grants were also awarded to the three other finalists: Project FINE – Colorful Growers in Winona, Minn., Armed Services YMCA at Camp Pendleton in Camp Pendleton, Calif., and North Louisiana Agri-Business Council in West Monroe, La.
Chelsea Building Products hires Fello
Oakmont, Pa.-based Chelsea Building Products hired Brad Fello to the newly created position of quality assurance manager.
Fello began his career in the window industry at Thermal Industries as a branch manager and held director positions at Traco, including quality, manufacturing and materials. Experienced in Lean Manufacturing, Kaizen, Quick Response Quality Control and ISO-9000, he is also a graduate of Clarion University with a degree in business management.
Fello’s responsibilities will include developing systems to assure consistent quality of Chelsea’s products beginning with the raw materials and ending with the finished lineal extrusion.
Chelsea Building Products designs and extrudes PVC and composite profiles for the building materials market.