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Industry Report Card: Capital Goods Mar 03

  • ID: 1751580
  • March 2003
  • Standard & Poors
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FEATURED COMPANIES

  • Actuant Corp.
  • Corning Inc.
  • FMC Technologies Inc.
  • Intermec Inc.
  • Mettler-Toledo Inc.
  • Pentair Inc.
  • MORE

Abstract
Most capital goods end-markets faced a sharp downturn starting in mid-2000, although the downturn in the farm equipment industry commenced in mid-1998. While the U.S. economy is recovering this year from a brief, relatively mild recession, activity in the capital goods sector is still very weak, and the timing and magnitude of the long anticipated recovery remains uncertain. Although consumer spending has continued to be fairly robust, excess production capacity caused by overinvestment during the 1990s (manufacturing capacity utilization remains depressed at just under 74%), continued profit pressures, and the war in Iraq have made companies reluctant to make big capital spending commitments. While GDP growth in the fourth quarter of 2002 was revised upward to a 1.4% annualized rate,...

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

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- Caterpillar Inc.
- Crane Co.
- Cummins Inc.
- Deere & Co.
- Dover Corp.
- Eaton Corp.
- Emerson Electric Co.
- General Electric Co.
- Grainger (W.W.) Inc.
- Harsco Corp.
- Ingersoll-Rand Co.
- Kennametal Inc.
- Parker-Hannifin Corp.
- Rockwell Automation Inc.
- Westinghouse Air Brake Technologies Corp.
- Illinois Tool Works Inc.
- ITT Corp.
- Elgin National Industries Inc.
- Milacron Inc.
- Danaher Corp.
- Timken Co.
- McDermott International Inc.
- High Voltage Engineering Corp.
- Trinity Industries Inc.
- Park-Ohio Industries Inc.
- Jordan Industries Inc.
- Watts Water Technologies Inc.
- Corning Inc.
- HCC Industries Inc.
- Rexnord LLC
- Thomas & Betts Corp.
- IDEX Corp.
- AGCO Corp.
- TriMas Corp.
- Titan International Inc.
- AMETEK Inc.
- J.B. Poindexter & Co. Inc.
- SPX Corp.
- Hubbell Inc.
- Terex Corp.
- Day International Group Inc.
- Aearo Corp.
- Transportation Technologies Industries Inc.
- Mettler-Toledo Inc.
- Euramax International Inc.
- Kinetek Holdings Corp.
- Hawk Corp.
- Carlisle Cos. Inc.
- Neenah Foundry Co.
- DT Industries Inc.
- Bucyrus International Inc.
- The GSI Group LLC
- NES Rentals Holdings Inc.
- Blount Inc.
- Eagle Picher Inc.
- Oshkosh Corp.
- Columbus McKinnon Corp.
- Neff Corp.
- Key Components LLC
- WESCO Distribution Inc.
- Penhall International Corp.
- Maxim Crane Works L.P.
- Norcross Safety Products LLC
- Actuant Corp.
- United Rentals Inc.
- Juno Lighting Inc.
- Mueller Group LLC
- Instron Corp.
- Polypore Inc.
- CNH Global N.V.
- Flowserve Corp.
- Jason Inc.
- JLG Industries Inc.
- Manitowoc Company Inc. (The)
- Joy Global Inc.
- Acuity Brands Inc.
- NMHG Holding Co.
- H&E Equipment Services Inc.
- Cooper Industries Ltd.
- National Waterworks Inc.
- FMC Technologies Inc.
- Unifrax Corp.
- Intermec Inc.
- Numatics Inc.
- Jackson Products Inc.
- Citation Corp.
- Motor Coach Industries International Inc.
- Pentair Inc.
- FastenTech Inc.
- Greif Inc.

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown

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