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April 2010 News

Newell Rubbermaid's sales up 8.5 percent
Newell Rubbermaid reported net sales increased 8.5 percent to $1.3 billion in the first quarter, compared to $1.2 billion in the prior year.

Fed: 10th District manufacturing grows at solid pace
Growth in Tenth District manufacturing activity continued at a solid pace, and producers remained moderately optimistic about the future.

Sales decline at Interline Brands
Interline Brands Inc. reported sales for the first quarter of 2010 decreased 4.5% to $245.2 million compared to the first quarter of 2009.

Barnes reports 6 percent sales gain
Barnes Group Inc. reported first quarter 2010 sales totaled $278.1 million, an increase of 6 percent from $262.2 million in the first quarter of 2009.

United Stationers sales up 3 percent
United Stationers Inc.reported that its first quarter sales were $1.2 billion, up 3% from the prior-year quarter.

Sales drop 4.3 percent for Lawson Products
Lawson Products Inc. reported net sales for the first quarter of 2010 were $95.1 million, a 4.3% decrease compared to net sales of $99.4 million for the prior year period.

Chicago Fed National Acitivity Index increases
The Chicago Fed National Activity Index increased to –0.07 in March, up from –0.44 in February.

Kennametal's sales up 16 percent
Kennametal said its third-quarter fiscal 2010 sales were $493 million, compared with $424 million in the same quarter last year.

Timken reports 5 percent sales gain
The Timken Company reported sales of $913.7 million during the first quarter of 2010, an increase of 5 percent over the same period a year ago.

Baldor Electric's sales down 1 percent
Baldor Electric Company reported sales for first quarter 2010 were $397.5 million, a 1% decline from first quarter 2009 sales of $402.5 million.

WESCO International's sales decline 2.6 percent
WESCO International Inc.reported net sales of $1.14 billion for the first quarter of 2010 compared to $1.17 billion for the first quarter of 2009, a decline of 2.6%.

Airgas forms business focused on retail customers
Airgas Inc. formed a new business dedicated to meeting the product and service needs of businesses serving retail customers. 

Praxair posts 14 percent sales gain
Praxair Inc. reported first-quarter net income of $314 million, or $1.01 per share, on sales of $2.4 billion.

Manufacturing outlook brightens
Cautious optimism continues to grow in regard to the U.S. and global economies among U.S.-based industrial manufacturers, according to the latest PricewaterhouseCoopers LLP Manufacturing Barometer.

MAPI global outlook: modest recovery
Doubts about the reality and sustainability of the global economic and financial crisis are subsiding among governments, financial markets and business leaders.

3M and DYMO announce alliance
The 3M Electrical Markets Division and DYMO Industrial announced a strategic alliance to co-brand a line of portable industrial strength labelers.

Carlise Companies posts 5.8 percent sales gain
Carlisle Companies Incorporated reported net sales of $562.0 million for the quarter, a 5.8% increase from $531.3 million in the first quarter of 2009.

ISM: Economic growth to continue
Economic growth is expected to continue in the United States throughout the remainder of 2010, say the nation's purchasing and supply executives in their spring 2010 Semiannual Economic Forecast.

Lincoln Electric's sales up 14.4 percent
Lincoln Electric Holdings Inc. reported 2010 first quarter net income of $23.7 million, or 55 cents per diluted share, on sales of $471.0 million.

Stanley Black & Decker reports Q1 sales
Stanley Black & Decker reported first quarter net sales of $1.3 billion, up 38% versus prior year due to the inclusion of Black & Decker's results for the roughly one-month period since the two companies merged.

Chicago Fed Midwest Manufacturing Index rises
The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 1.3% in March, to a seasonally adjusted level of 84.1 (2002 = 100).

ProBuild to acquire Oso Lumber
ProBuild Company LLC has reached an agreement to purchase the assets of Oso Lumber Inc., a building materials supplier based in Arlington, Wash.

Manufacturing in Central Atlantic region expands
Manufacturing activity in the central Atlantic region expanded for the third straight month, according to the Richmond Fed's latest survey.

3M reports 24.7 percent sales jump

3M reported first-quarter earnings of $1.29 per share on sales of $6.3 billion.

Royal Adhesives and Sealants expands in Indiana
Royal Adhesives and Sealants LLC has completed the relocation of its epoxy and urethane adhesive product line to its newly expanded South Bend manufacturing and research center.

Texas manufacturing picks up
Texas factory activity increased for the sixth month in a row in April, according to business executives responding to the Texas Manufacturing Outlook Survey.

Ingersoll-Rand's revenues up slightly
Ingersoll-Rand plc reported revenues increased by 1% for the first quarter of 2010 compared with the 2009 first quarter.

Manufactured durable goods orders decrease
New orders for manufactured durable goods in March decreased $2.2 billion or 1.3 percent to $176.7 billion, the U.S. Census Bureau announced today.

Airgas announces price increases
Airgas Inc. announced that beginning June 1, 2010, or as contracts permit, its operating units will increase prices on bulk and packaged gases, and other products and services.

Gardner Denver's revenues decline
Gardner Denver Inc. announced quarterly earnings of $47.5 million on revenues of $422.2 million.

Dover's earnings jump 99 percent
Dover Corporation announced first quarter earnings of $121.5 million or 65 cents diluted earnings per share, compared to $61.1 million or 33 cents in the prior-year period, representing increases of 99% and 97%, respectively.

United Rental's revenues, earnings down
United Rentals Inc. announced total Q1 revenue of $478 million, while rental revenue was $380 million, compared with $594 million and $448 million, respectively, for the same period last year.

Applied's sales increase by 7.6 percent
Applied Industrial Technologies reported net sales for the third quarter increased 7.6% to $486.14 million compared to $451.64 million in the same period last year.

WESCO posts 2.6 percent sales decline
WESCO International reported net sales of $1.14 billion for the first quarter of 2010, a 2.6% decline compared to $1.17 billion for the first quarter of 2009.

Eaton boosts sales by 10 percent
Eaton Corporation announced net income per share of 91 cents for the first quarter of 2010, compared to a net loss per share of 30 cents in the first quarter of 2009.

ITW's revenues up 14.6 percent
Illinois Tool Works Inc. reported 2010 first quarter diluted income per share of 58 cents, compared to a loss of 2 cents per share in the 2009 first quarter.

Snap-on posts 8.6% sales gain
Snap-on Incorporated said its first quarter sales of $621.6 million increased $49.0 million, or 8.6%, from 2009 levels.

Parker sees big earnings increase
Parker Hannifin Corporation reported fiscal 2010 third quarter sales were $2.6 billion, an increase of 11.5 percent from the same period a year ago.

Survey: Industrial sector outpaces economy
The economic recovery for the U.S. industrial sector is outpacing the national economy, according to new results from ThomasNet's second Industry Market Barometer.

Metalformers expect steady business conditions
Metalforming companies expect business conditions to remain steady during the next three months.

Beacon Roofing acquires Louisiana Roofing
Beacon Roofing Supply Inc. has acquired Louisiana Roofing Supply, a distributor of residential roofing systems and related accessories.

Motion Industries posts 9% sales gain
Motion Industries reported a 9% increase in sales in the first quarter, to $803.3 million.

Industrial production rises slightly
Industrial production edged up 0.1 percent in March and increased at an annual rate of 7.8 percent in the first quarter.

SKF posts profit gain
Swedish bearings manufacturer SKF reported that its first-quarter profit came in "well ahead of market expectations" due to strong demand in March.

Kimberly-Clark Professional launches Green Patrol
Kimberly-Clark Professional has launched the Green Patrol program to bring employees and other volunteers to communities throughout the United States to help plant trees, aid in cleanup and recycling projects and other environmental efforts.

Fed Beige Book: Economic activity improves
Overall economic activity increased somewhat since the last report across all Federal Reserve Districts except St. Louis, which reported "softened" economic conditions.

NY manufacturing makes rapid improvement
The Empire State Manufacturing Survey indicates that conditions for New York State manufacturers improved at a rapid pace in April.

MAPI Composite Index rises to 78%
Emerging optimism prevails in the manufacturing sector, according to the quarterly Manufacturers Alliance/MAPI Survey on the Business Outlook.

PT/motion control sales increased in February
U.S. and Canadian manufacturers’ sales increased for the second consecutive month in February.

Apache Hose and Belting acquires Ag Belt
Apache Hose and Belting Company Inc. announced the acquisition of Ag Belt of Des Moines, Iowa.

Grainger posts 3% profit gain
Grainger reported first quarter sales of $1.7 billion, up 14% versus first quarter 2009.

Beacon Roofing acquires Phoenix Sales
Beacon Roofing Supply Inc. has acquired Phoenix Sales Inc., a Florida-based distributor of commercial roofing systems and related accessories.

Fastenal's profits rise 15%
Fastenal Company reported that its first quarter net income rose 15% to $56 million, from $48.6 million in the same period a year ago.

NAED recommends Activant Vista
Activant Solutions Inc. and the National Association of Electrical Distributors (NAED) announced a new marketing partnership whereby NAED will recommend Activant's Vista Information Services to its members.

Atlas Copco to open Charlotte DC
Atlas Copco plans to open a new 131,000 sq.-ft. national distribution center in Charlotte, N.C., in May.

Noland opens Louisiana branch
Noland Company has opened its first location in Louisiana which will distribute HVAC and refrigeration equipment.

R/W Connection acquires Virginia Carolina Belting
R/W Connection Inc., a wholly owned subsidiary of Singer Equities, purchased the operating assets of Virginia Carolina Belting.

Machine tool consumption up 22.1%
February U.S. manufacturing technology consumption totaled $163.96 million, up 28.8% from January.

P.F. Markey acquires Material Sales
Saginaw, Mich.-based P.F. Markey Inc. (PFMI) has agreed to acquire the assets of Material Sales Company Inc. of Redford, Mich.

Zep's sales rise 11.1%
Zep Inc. reported net sales of $127.4 million in Q2 fiscal 2010 compared with $114.6 million in the same quarter last year, an increase of 11.1%.

WD-40 reports 30.3% sales gain
WD-40 Company reported net sales for its second quarter of $80.6 million, an increase of 30.3% from the second quarter last year.

MSC reports 12.4% sales gain
MSC Industrial Direct Co. reported Q2 fiscal 2010 net sales rose 12.4% to $395.5 million, compared with $351.9 million in the prior year period.

Chicago Fed: Midwest Mfg. Index down slightly
The Chicago Fed Midwest Manufacturing Index (CFMMI) decreased 0.8% in February, to a seasonally adjusted level of 82.6 (2002 = 100).

Regal Beloit buys Australian motor maker
Regal Beloit Corporation has acquired CMG Engineering Group Pty. Ltd. headquartered in Melbourne, Australia.

Kaman completes Allied Bearings Supply acquisition
Kaman Industrial Technologies Corporation has completed the previously announced acquisition of Allied Bearings Supply Company (Allied) of Tulsa, Oklahoma.

DXPE acquires Quadna
DXP Enterprises Inc. announced the completion of the acquisition of substantially all the assets of Quadna Inc.

Stock Building Supply acquires National Home Centers
Stock Building Supply announced that it acquired the assets of National Home Centers Inc., a supplier of building materials in Arkansas.

Air Products extends Airgas tender offer
Air Products has extended the expiration date of its tender offer for all outstanding common shares of Airgas Inc. until June 4.

TE-CO acquires Parlec workholding product line
TE-CO Inc., a Union, Ohio-based manufacturer of workholding products, announced that it has acquired the workholding product line of Parlec.

Construction spending fell in February
Construction spending was estimated at $846.2 billion in February, 1.3 percent below the revised January estimate of $857.8 billion.

ISM: Manufacturing growth continues
Manufacturing grew for the eighth straight month in March according to the latest Manufacturing ISM Report On Business.