Freudenberg Sealing Technologies, of the Freudenberg Group, announced its acquisition of Tobul Accumulator, Inc., effective July 31, 2014. Tobul is a family-owned company that was established in 1980 by Jim Tobul. “Becoming a part of the Freudenberg Group is decisive for our future development,” stresses Tobul. Full press release
Kaman Corporation today announced effective August 15, 2014, the appointment of Tribby Warfield as Senior Vice President and General Manager for the Fluid Power platform of its Distribution Segment (Kaman Distribution). Tribby will report to Steve Smidler, Kaman Distribution’s President and join Kaman’s executive committee. Full press release
Sun Hydraulics Corporation reported financial results for the second quarter of 2014. “Sun’s second quarter sales reached record levels,” said Allen Carlson, Sun’s President and CEO. “Demand was bolstered by European and North American end markets, with Europe up 15%, and North America 10%. Asia/Pacific sales were comparable with the same period last year.” “Earnings were also impacted by non-recurring expenses in the quarter, totaling approximately $0.02 per share.”
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