MidWest Gloves adds to winter lineup
Chillicothe, Mo.-based MidWest Quality Gloves Inc. introduced a new line of Cold Weather Work Gloves for men. The work gloves are designed for all cold outdoor work activities, including rugged construction jobs, farm work and more, the company said.
The new line features Thinsulate insulation lining. They sport a distinctive plaid wool overall pattern on the back, with the palms and knuckles made of a tough suede leather.
The new Cold Weather Work Gloves "look great and give the ultimate cold weather hand protection for the working man," said Stephen J. Franke, president of MidWest Quality Gloves Inc. "Again an example of the unique use of materials in the glove industry."
MidWest Gloves & Gear brand products encompass full Glove Lines of premium quality performance gloves, outdoor gloves and garden gloves.
Power tools market expected to grow through 2023
The global power tools market is expected to grow at a compound annual growth rate of 4.6% between 2017 and 2023, to reach $35.58 billion by 2023, according to a report from Infiniti Research Limited.
Key factors driving growth include urbanization, a growing construction industry, increased sales of commercial vehicles, and a rising demand for cordless tools. Hindering market is the cost associated with maintaining power tools, the report says.
North America is expected to hold the largest market share during the period, driven by the growing construction industry and rising automotive sales in this region.
The increasing popularity of the DIY trend among consumers is driving growth of the power tools market for residential/DIY applications while remodeling and renovation projects are growing at a faster rate than new construction projects.
The full report can be viewed and downloaded here.
Jeld-Wen holding secondary offering of common stock
Shareholders of Jeld-Wen, the Charlotte, N.C.-based door and window manufacturer, will offer 12.5 million shares of common stock in the company with an overallotment option for an additional 1.875 million shares.
The total being offered is worth nearly $520 million. However, Jeld-Wen is not receiving any proceeds from the sale, according to an SEC filing by the company.
Barclays, Citigroup, Credit Suisse, JPMorgan Chase, Baird and Goldman Sachs & Co. are the underwriters of the offering and have a 30-day option to purchase from the over-allotment option of shares. Bank of America Merrill Lynch, Deutsche Bank Securities, RBC Capital Markets and Wells Fargo Securities are acting as co-managers in the offering.
Last week Jeld-Wen reported that third quarter 2017 net revenues increased 6.3% to $991.4 million, while the manufacturer’s net income for the quarter increased 11.3% to $51.3 million.