Briefs: Coleman Cable acquiring business

WAUKEGAN -- Coleman Cable Inc., a Waukegan manufacturer and innovator of electrical and electronic wire and cable products, announced Friday it has entered into an agreement to acquire the electrical products business of Katy Industries Inc., which operates in the U.S. as Woods U.S. and in Canada as Woods Canada. The principal business of the U.S. and Canadian operations is the design and distribution of consumer electrical corded products. Coleman will buy certain assets of the U.S. subsidiary, based in Indianapolis, and all the stock of the Canadian subsidiary for a total cash purchase of $45 million. The closing is expected Nov. 30.

Sauer-Danfoss earnings down

LINCOLNSHIRE -- Sauer-Danfoss Inc. announced a 22 percent drop in third quarter earnings this week, missing analysts' estimates due primarily to plant restructuring costs and a change in German tax law. Earningsof the Lincolnshire-based company, which makes and sells engineered hydraulic, electric and electronic systems for mobile equipment, dropped 22 percent to $5.5 million, or 11 cents per diluted share, in the quarter ended Sept. 30, from $7.1 million, or 15 cents per diluted share, in the same quarter last year. Analysts expected 18 cents per diluted share, according to Yahoo Finance.