Economic growth in the United States will continue in 2006 and manufacturing expectations remain at a relatively high level, say the nation's purchasing and supply management executives in their 70th Semiannual Economic Forecast. The forecast was issued in mid-December by the Business Survey Committee of the Institute for Supply Management (ISM).
Under the five-year (sunset) review process required by the Uruguay Round Agreements Act, the U.S. International Trade Commission (ITC) determined that revoking the existing antidumping duty orders on forged stainless steel flanges from India and Taiwan would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time.
Flowserve Corp. announced that it has sold assets of its General Services Group (GSG) to Furmanite Worldwide Inc., a unit of Dallas-based Xanser Corp., for approximately $16 million in gross cash proceeds, while retaining approximately $12 million of net accounts receivable.
Edgen Corp. said that Jefferies Capital Partners, its principal shareholder, has agreed to acquire Murray International Metals Ltd. (“MIM”) of Edinburgh, Scotland, through a newly formed acquisition company.
President George W. Bush overruled a majority of International Trade Commissioners when he refused Dec. 30 to act upon a petition by seven U.S. steel pipe makers to place limits on Chinese-made steel pipe imports flooding the U.S. market.