August 2015 News

I.B.I.S. wins award

I.B.I.S. Inc., a provider of Microsoft Dynamics Solutions to distributors and businesses with complex supply chains, announced that Microsoft has recognized I.B.I.S. as the U.S. Distribution Partner of the Year.

Ohio Transmission acquires Buckeye Pumps

Ohio Transmission Corporation, an industrial equipment service provider and distributor headquartered in Columbus, Ohio, announced the acquisition of Buckeye Pumps Inc.

Real GDP increased at 3.7% in 2Q

Real gross domestic product increased at an annual rate of 3.7 percent in the second quarter of 2015, according to the "second" estimate released by the Bureau of Economic Analysis.

Modest manufacturing growth expected

Expect modest to moderate growth but no "break out" boom for manufacturing, according to the latest quality forecast from the MAPI Foundation.

PFERD names new customer service manager

Janet A. Schweitzer was recently appointed customer service manager for PFERD INC. in Milwaukee, Wis.

Bunzl acquires Steiner Industries

Bunzl plc announced that it has acquired Steiner Industries, the Chicago-based distributor of personal protective equipment.

Arzbaecher returns to lead Actuant

Actuant Corporation appointed Robert Arzbaecher to the position of president and chief executive officer effective immediately.

PIP to expand PRI Industries facility

Protective Industrial Products recently broke ground on a multimillion dollar expansion of its PRI Industries manufacturing facility in Chaska, Minn.

MRC Global opens Pittsburgh RDC

MRC Global subsidiary McJunkin Red Man Corporation opened a new regional distribution center in Monessen, Pa., near Pittsburgh.

Samuels joins North American Tool

North American Tool Corporation announced the appointment of Phil Samuels as director of sales and marketing.

ISA Index slowed in July

The August ISA Economic Indicator Report (EIR) from the Industrial Supply Association indicated that growth slowed for Distributors and Manufacturers during the month of July.

Motion Industries to acquire Lake Erie Abrasive & Tool

Motion Industries Inc. entered into a definitive agreement to acquire Lake Erie Abrasive & Tool, headquartered in Euclid, Ohio.

Chicago Fed National Activity Index picked in July

The Chicago Fed National Activity Index rose to +0.34 in July from –0.07 in June.

PT/MC industry growth slowing

The power transmission/motion control industry experienced slower growth in the second quarter compared to the first quarter of 2015.

Hillman names president and CEO

The Hillman Companies announced that hardware and home improvement veteran Gregory J. Gluchowski Jr. has been named president and chief executive officer.

F.W. Webb names new SVP of sales

The F.W. Webb Company announced that Thomas Grunewald is the company’s new senior vice president of sales.

3M to build new Design Center

3M announced the development of the 3M Design Center, "an incubator for progressive ideation and the creative heartbeat at 3M."

NN Inc. to buy Precision Engineered Products

NN Inc.has entered into a definitive agreement to acquire Precision Engineered Products Holdings Inc. for $615 million in cash.

Johnston named CEO of WinWholesale

WinWholesale Inc. announced that Jack Johnston has been named chief executive officer of the company.

Pentair to acquire ERICO

Pentair has agreed to acquire ERICO Global Company for $1.8 billion in cash, including the repayment of ERICO debt.

Industrial production up 0.6% in July

Industrial production increased 0.6 percent in July after moving up 0.1 percent in June.

PT/MC distributors sales up 6.1%

Sales for distributors of power transmission/motion control products grew by 6.1 percent in the first quarter of 2015 compared to the same period in 2014.

Fastenal installs 50,000th industrial vending machine

Fastenal announced that it now has 50,000 FAST Solutions industrial vending machines installed at customer locations.

Grainger said sales fell by 1% in July

Grainger reported sales for the month of July declined 1 percent versus July 2014.

June cutting tool consumption down 1% from last year

June U.S. cutting tool consumption totaled $188.7 million, up 9% from May’s total and down 1% from June 2014.

Applied Industrial Technologies sales up 11.9% for fiscal 2015

Applied Industrial Technologies reported net sales for the fiscal 2015 fourth quarter were $677.5 million, an increase of 3.5% compared with $654.6 million in the same quarter a year ago.

New president named for Airgas Specialty Products

Airgas announced that Joseph P. Sullivan has been named president of Airgas Specialty Products, effective immediately.

Abolox joins IBC

IBC announced the addition of Abolox LLC as an independent distributor member.

Manufacturing productivity up 2.5% in 2Q

Manufacturing sector labor productivity increased 2.5 percent in the second quarter of 2015, as
output increased 1.5 percent and hours worked decreased 1.0 percent.

Stellar to acquire Graffams Industrial Supplies

Stellar Industrial Supply plans to acquire certain assets of Graffams Industrial Supplies, of San Luis Obispo, Calif.

Sandvik names new president

Sandvik announced that president and CEO Olof Faxander has left his current position. No reason was given for his departure.

DXP Enterprises sales fall 15.2%

DXP Enterprises reported second quarter sales of $323.7 million were down 15.2% compared to $381.6 million for the second quarter of 2014.

Manufacturing technology orders down

June U.S. manufacturing technology orders totaled $355.43 million according to AMT – The Association For
Manufacturing Technology.

Berkshire Hathaway to acquire Precision Castparts

Berkshire Hathaway announced plans to acquire Precision Castparts for $235 per share in cash, or approximately $37.2 billion, including outstanding PCC net debt.

Inventory management seminar

The inventory management seminar presented by The Distribution Team is an opportunity to get your arms around the largest cash asset in the organization.

Lincoln Electric acquires Specialised Welding Products

Lincoln Electric Holdings has acquired Specialised Welding Products (SWP), a privately held provider of specialty welding consumables in Australia and New Zealand.

Manufacturing jobs improved in July

U.S. manufacturers added 15,000 jobs during the month of July, the U.S. Bureau of Labor Statistics reported today.

EECO acquires Williams Supply

Electrical Equipment Company (EECO) of Raleigh, N.C., announced the acquisition of Williams Supply Inc. of Roanoke, Va.

RBC Bearings sales expand by 26%

RBC Bearings reported net sales for the first quarter of fiscal 2016 were $142.3 million compared to $113.0 million in the first quarter of fiscal 2015.

NOW Inc. reports loss for 2Q

NOW Inc. reported a second quarter loss of $19 million, or 18 cents per fully diluted share.

Acquisitions boost NN Inc. sales by 55%

NN Inc. reported net sales for the second quarter of 2015 increased 55% to $164.9 million, compared to $106.7 million for the second quarter of 2014.

Allied Motion earning up 16%

Allied Motion Technologies Inc. announced net income increased 16% to $3.1 million for its fiscal fourth quarter. 

Rexnord earnings up for quarter

Rexnord reported income of $21.2 million for its fiscal 2016 first quarter, or 20 cents per share, compared to income of $12 million, or 11 cents, in the same period last year.

Fastenal sales up 3.2% in July

Fastenal reported sales of $334 million in July, a 3.2 percent increase over the $323.7 million reported in July 2014.

AD sales up 4% for quarter

AD reported sales for AD members across its seven divisions grew by 4% in the second quarter of 2015 to $16.7 billion.

Graybar sales up 3.5 percent

Graybar reported a second quarter net sales record of $1.6 billion, a 3.5 percent increase compared to the same period last year.

Osborn names territory sales manager

Osborn, a supplier of industrial brushes, polishing compounds and buffs, hired Vincent Boshar as a territory sales manager.

Lafert North America appoints sales director

Lafert North America, a Mississauga, Ontario-based supplier of metric motors, gearboxes and pumps, named Ken Clune national director of sales.

Parker Hannifin sales fall

Parker Hannifin Corporation reported fiscal 2015 fourth quarter sales were $3.14 billion, 10.8 percent lower than the $3.53 billion in the same period a year ago.

Applied Industrial acquires Atlantic Fasteners

Applied Industrial Technologies has acquired Atlantic Fasteners, a distributor of C-Class consumables located in Agawam, Mass.

MRC Global posts 20 percent sales drop

MRC Global reported sales were $1.198 billion for the second quarter of 2015, which were 20% lower than the second quarter of 2014.

Manufacturing expansion slows in July

Manufacturing expansion slowed in July according to the latest survey from the Institute for Supply Management.

Timken to acquire Carlstar Belts

The Timken Company has reached an agreement with American Industrial Partners to acquire the Carlstar Belts Business, a North American manufacturer of belts used in industrial, commercial and consumer applications.

Grainger acquires British distributor

Grainger has entered into a definitive agreement to acquire Cromwell Group Limited for £310 million GBP (approximately $482 million USD) in cash.