Middleby Acquires Stewart Systems Global - Quick Facts

The Middleby Q4 12 Earnings Conference Call At 11:00 AM ET

Trade MIDD now with

9/7/2012 7:13 PM ET

Middleby Corp. (MIDD: Quote) announced the acquisition of Stewart Systems Global, LLC, a manufacturer of baking systems for the food processing industry with annual revenues of approximately $30 million.

"This addition is highly complementary to our recent acquisitions of Auto-Bake and Baker Thermal Solutions. We are providing customers a broader portfolio of patented technologies and an integrated baking system," said Selim Bassoul, Chairman and CEO of the Middleby.

Click here to receive FREE breaking news email alerts for MIDDLEBY CORP and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

<<Previous 87 Articles

Editors Pick

Modest Gain In Eurozone PMI Revives Recovery Hopes

An indicator of Eurozone's private sector activity improved more than expected in May, renewing hopes that the economy is inching towards a recovery. Nonetheless, the indicator remained in negative territory, signaling sharp deterioration in overall business activity. The composite output index rose to a three-month high of 47.7 in May from 46.9 in April.

China Manufacturing Contracts As New Orders Slump

China's manufacturing sector contracted for the first time in seven months in May amid poor demand, fueling concerns that the weakness in the economy may persist for some more time. The headline purchasing managers' index, an indicator of the health of the factory sector, fell to a seven-month low of 49.6 in May from 50.4 in April. Readings below 50 indicate contraction of the sector.

HP Profit Falls Yet Tops Estimates

Hewlett-Packard Co. said Wednesday after the markets closed that its second quarter profit fell 32% from last year, hurt by lower revenue and weaker margins amid a slump in PC sales. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast.