Reuters wraps up its three-day Reuters Manufacturing and Transportation Summit today in Chicago. Interesting remarks abound, with a theme of recovery.
Terex looks for deals, but valuations are high: “Large equipment manufacturer Terex Corp (TEX.N) is looking to grow through acquisitions, particularly in Europe, but Chief Executive Ron DeFeo said opportunities are limited due to rich valuations.”
Navistar CEO cheered by JB Hunt buy but cautious: “(Reuters) – The top executive of Navistar International Corp (NAV.N), a U.S.-based vehicle maker, said on Tuesday he is beginning to see some signs of improvement in the hard-hit commercial truck business — though he cautioned “it’s still very tough out there.”
U.S. in ‘Nike swoosh’ recovery: Timken: “(Reuters) – The chief executive of global bearings maker Timken Co (TKR.N) feels “hopeful but cautious” about the sustainability of a U.S. economic recovery, whose shape is likely to resemble a Nike swoosh logo, CEO Jim Griffith said on Monday. ‘We believe the recovery is real,’ Griffith told the Reuters Manufacturing and Transportation Summit. ‘We believe it’s modest, and we’re running the company on the basis that there will be a slow, gradual improvement in the economy.’”
Risks rise as capex borrowing returns: PayNet CEO: “(Reuters) – Small trucking companies appear to be borrowing again to finance investment in their businesses, a sign they are gaining confidence in the economic recovery, Bill Phelan, president of PayNet, said on Monday.”
SPX CEO sees return to growth in 2011” “(Reuters) – SPX Corp (SPW.N), which is braced for a 2010 profit drop of up to 23 percent, expects to resume growth in 2011 as the aging U.S. electric grid and emerging-market recovery spurs demand for its products.”
Very impressive lineup of speakers and subjects. Congrats to Reuters.