Mine Safety Appliances (NYSE:MSA)
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The Company develops, manufactures and supplies sophisticated products that protect people's health and safety.
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The Company develops, manufactures and supplies sophisticated products that protect people's health and safety.
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Mine Safety Appliances is a global leader in the development, manufacture and supply of sophisticated products that typically integrate any combination of electronics, mechanical systems, and advanced materials to protect users against hazardous or life threatening situations. The company’s comprehensive line of safety products includes self-contained breathing apparatus, gas masks, gas detection instruments, head protection, respirators, thermal imaging cameras, fall protection, and ballistic body armor. These are used by workers around the world in the fire service, homeland security, construction, and other industries, as well as the military.
The company reported record $257 million of sales in the fourth quarter of 2006, up $15 million from the fourth quarter of 2005 and 22% higher than the third quarter of 2006. The company brought out parametric capabilities in its breathing apparatus, a new generational thermal imaging camera, the evolution 5200HP, successful new instrument such as the ALTAIR Single-Gas portable instrument, and the latest generation of the SAFESITE Multi-Threat Detection System. These all introductions are set to fuel the company’s top-line growth in the coming two years.
The company has recently acquired Paraclete Armor and Equipment, Inc., a rapidly growing innovator and developer of advanced ballistic body armor used by military personnel, including Special Forces units of the U.S. military for $30 million. This will strengthen the market position of the company and help it to generate sustained revenues. Additionally it has initiated work of a new factory in China primarily to serve that strongly growing market and is expanding its business globally.
Hence looking at the growing demand for the company’s products in the rapidly growing personal protection equipment market, equally supported by its increasing presence in the global markets, the company seems to be well placed to achieve strong organic growth.
With the acquisition of Acceleron Technologies, a San Francisco-based developer of advanced technology, Mine Safety Appliances (MSA) is poised for an interesting year in 2007. Acceleron has key patents and know-how that significantly increase data accuracy and minimize the drift that can occur in conventional systems. This acquisition will expedite the development of more reliable systems for use in soldier location applications using better technology and increase their revenues. Adding to that, in March 2007, MSA had acquired outstanding shares of MSA (India) Limited, endorsing which they are better positioned to take advantage of opportunities in the large and growing Indian market. In January 2007, they announced Project Magellan, a multi-year strategic plan to improve the efficiency of their North American manufacturing operations by more effectively using available factory space. They expect that Project Magellan will reduce operating expenses by $10 million a year once completed. MSA has been innovating new and different products continuously. In April 2007, they launched a new self-contained breathing apparatus (SCBA) that provides new levels of protection and performance for firefighters.In the latest quarterly results net income was $16.1 million, an increase 2%, compared with the same quarter last year. Current quarter sales continue to reflect growth in MSA's International markets and North American industrial markets. Sales in the International segment improved by $5.8 million in the current quarter primarily due to strong shipments to the mining industry in South Africa and the fire service market in China including a large shipment to the Beijing Fire Bureau and North America. They have also gained some good orders in military and Homeland Security markets in the U.S. and Europe. Considering the continuous increase in international market share of MSA and new technological innovations, the future looks bright for the company.
I heard that in canada MSA units were found with metal particles inside the regulators. About 200 workers were exposed to contamintents.