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Lincoln Electric Acquires Welding-Automation Systems Integrator

Thursday, January 03, 2013
 
Tennessee Rand, Inc., Chattanooga, TN, a provider of robotic-welding systems and tooling, has been acquired by Lincoln Electric Holdings, Inc., Cleveland, OH. Tennessee Rand (www.tennrand.com/) has annual sales of $35 million. Learn more at www.lincolnelectric.com/.

Metalforming Industry Movers & Shakers

Thursday, January 03, 2013
 
Richard Sade, vice president and COO of S&S Hinge, a PMA member company located in Bloomingdale, IL, has been elected to the Manufacturing Leadership Council’s Board of Directors.  The council’s mission is “to help senior executives define and shape a better future for themselves, their organizations, and the industry at large.” It produces a variety of leadership networking, information and professional-development products; www.mlcouncil.com/.

Precision sheetmetal fabricator and stamper Laystrom Manufacturing Co., Chicago, IL, hired Eric Hauser as manufacturing manager. He’ll oversee the firm’s manufacturing and operations support departments, and lead its continuous quality- and process-improvement activities; www.laystrom.com/.

Bunting Magnetics, Newton, KS, named Robert Bunting, Jr. business strategist—metal detection. The firm manufactures magnetic products for a variety of industries; www.buntingmagnetics.com/.


Happy New Year--Fiscal Cliff Averted

Wednesday, January 02, 2013
 
Late last night (Jan. 1) the House passed H.R. 8, titled “The American Taxpayer Relief Act of 2012,” which passed the Senate earlier in the day.  Here’s a summary, provided by the National Association of Manufacturers  

Individual Rates—Many manufacturers organized as S-corporations or other flow-through entities, which pay taxes at the individual level, will not see their tax rates increase. The plan makes permanent current lower tax rates for individuals making less than $400,000 and families with incomes below $450,000.

Estate Tax—Similarly, the agreement avoids a significant increase in the estate-tax burden on small manufacturers. While the estate tax rate will increase from 35 percent to 40 percent, the current $5 million exemption will remain in place and be indexed for inflation.

Dividends and Capital Gains—While the compromise does raise investment tax rates to 20 percent for those above the $400,000/$450,000 thresholds, the top tax rates on dividends and capital gains remain the same, and current rates remain in place for taxpayers at lower income levels.

Tax Extenders—The compromise includes seamless extensions through 2013 of the R&D credit, the production tax credit and two important international provisions—the “look-through” rules and deferral for active financing income.

Bonus Depreciation—In addition, the 50-percent bonus depreciation in place during 2012 is extended for another year.


 

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