December 2023 News
AMT's Ignition project leads to new programming initiative for customers
Applied Manufacturing Technologies (AMT) announced that following a successful large-scale automation project, it has become a Credentialed System Integrator for Ignition by Inductive Automation and has launched a wide-ranging initiative for certification of the engineering staff.
Minor dip in advance economic indicators
Wholesale inventories for November, adjusted for seasonal variations and trading day differences, but not for price changes, were estimated at an end-of-month level of $895.7 billion, down 0.2% (±0.2%)* from October 2023, and were down 3.1% (±1.1%) from November 2022, according to the U.S. Census Bureau.
Enpro to acquire Advanced Micro Instruments
Enpro Inc., an industrial technology company, has entered into a definitive agreement to acquire Advanced Micro Instruments Inc. (“AMI”), a provider of highly-engineered, application-specific analyzers and sensing technologies that monitor critical parameters to maintain infrastructure integrity, enable process efficiency, enhance safety, and facilitate the clean energy transition.
Timken strengthens marine market presence with Lagersmit deal
The Timken Co., a global provider of engineered bearings and industrial motion products, has acquired Lagersmit, a Netherlands-based manufacturer of highly engineered sealing solutions for demanding marine, dredging, water, tidal energy and other industrial applications.
Trive Capital forms PVF distributor Venturi Supply
Trive Capital, a Dallas-based private equity firm, has formed Venturi Supply, an independent distributor of pipe, valves and fittings (PVF), engineered products and industrial supplies.
GME Supply Co. names new president, COO, appoints VP sales
GME Supply Co. CEO Caleb Messer announced that the company has named Ryan Keogh as president and chief operating officer. In addition, Earlier in December, the company promoted John Lamond to vice president of sales.
NIBCO promotes Chris Mason
NIBCO INC. has announced the promotion of Chris Mason to senior vice president, supply chain.
Infinitum announces three executive appointments
Infinitum, creator of the sustainable air-core motor, announced the expansion of its leadership team and key 2023 highlights following a year of record demand and transformative growth. Bhavnesh Patel has been appointed to chief strategy officer, Paulo Guedes-Pinto has been appointed to chief technology officer and Mike DiNucci joins Infinitum as chief revenue officer.
New website for Bellofram elastomers goes live
Bellofram Elastomers, the new entity made by combining Bellofram Diaphragm and Bellofram Silicones, has unveiled its brand new website.
E-Z Lok threaded insert CAD models available in new online catalog
E-Z Lok, a leading manufacturer and master distributor of threaded inserts for metal, plastic and wood, recently launched an online CAD library to showcase a wide selection of its products at https://www.ezlok.com/cad-downloads.
Klein Tools recalls power stations
Klein Tools announced a U.S. Consumer Product Safety Commission recall of the mobile Blackfire and Klein Tools power stations due to fire and burn hazards.
November durable goods orders increase
New orders for manufactured durable goods in November, up two of the last three months, increased $15.1 billion or 5.4% to $295.4 billion, the U.S. Census Bureau announced.
MSC releases 2023 ESG report
MSC Industrial Supply Co. says it reaffirmed its commitment to environmental, social, and governance (ESG) principles in its just-released 2023 ESG Report, "BETTER: Better World, Better Tomorrow."
Rotor Clip expands U.S. operations
Rotor Clip has recently expanded its operation by establishing a brand-new logistics distribution center in Fort Worth, Texas, to accommodate customers in a more centralized location.
Allient releases sustainability report
Allient Inc. (formerly known as Allied Motion Technologies Inc.) announced the publication of its inaugural Sustainability Report covering the company’s fiscal year 2022. It highlights Allient’s vision for and approach to corporate sustainability and details key initiatives it is undertaking in the areas of environmental stewardship, social responsibility and well-being, and corporate governance.
BlackHawk tops year of growth with another expansion
BlackHawk Industrial, a distributor of metalworking and other mission-critical industrial products, announced it has executed again on its growth strategy and completed the acquisition of Alro Industrial Supply in Jackson, Michigan, with additional locations in Grand Rapids, MI and Clearwater, Florida.
Parker becomes Official Control Systems Partner to American Magic for 2024 America’s Cup
Parker Hannifin Corp., a global provider in motion and control technologies, announced it will design and implement advanced control systems for New York Yacht Club American Magic racing yachts and support the challenger’s pursuit of the 37th America’s Cup.
Enerpac Tool Group's fiscal Q1-24 sales up nearly 2%
Enerpac Tool Group Corp. reported its fiscal Q1-2024 (ended November 30) net sales were $142 million, a 1.9% increase year-over-year, with organic growth of 5.5%. Gross margin expanded 360 basis points year-over-year to 52.3%.
Viking Electric's Scott Miesen to retire
Electrical distributor and services provider, Viking Electric, announced that Vice President of Marketing & Materials Scott Miesen will retire at the end of the year.
Precision Surfacing Solutions sells abrasives company to SurfacePrep
Diamond Tool & Abrasives (“DTA”), a subsidiary of Precision Surfacing Solutions has been acquired by SurfacePrep, a portfolio company of CenterOak Partners.
Weiler Abrasives appoints new chief financial officer
Weiler Abrasives, a leading provider of abrasives, power brushes and maintenance products for surface conditioning, is pleased to announce that Mary Beth Martino has been appointed as the new chief financial officer and a member of Weiler Abrasives’ executive committee.
AD and The Edge Group to merge
AD and The Edge Group, a distributor-owned buying and marketing group based in Houston, announced a merger between the two organizations that will close on January 1, 2024.
3M sells equity stake in Combi Packaging Systems
3M announced it has sold its 50% equity stake in Combi Packaging Systems, LLC to SIAT Group, an H.I.G. Capital portfolio company and provider of case taping machinery, wrapping machinery, and strapping equipment.
Economic Outlook: 'Unmistakable signs momentum is downshifting'
In their U.S. Economic Outlook for December released on the 14th, Wells Fargo economists noted resiliency in 2023, but growth in 2024 looks to be a sub-trend, at best.
US cutting tool orders up 7.9% over 2022
By Christopher Chidzik
October 2023 U.S. cutting tool consumption totaled $213 million, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology.
October manufacturing technology orders up vs. September – but trend behind '22
By Christopher Chidzik
As the summer of 2023 ended, the number of economists predicting a recession dwindled nearly as fast as the amount of sunlight each day. Despite the generally more optimistic outlook, orders for manufacturing technology, measured by the U.S. Manufacturing Technology Orders Report published by AMT – The Association For Manufacturing Technology, continued to fall relative to 2022. Through October 2023 orders totaled $4.05 billion, 13.5% behind the total for the first 10 months of 2022.
GM at Dawes Rigging & Crane Rental retires
The new year will bring big changes to Dawes Rigging & Crane Rental, a member of the ALL Family of Companies, as it will be the first time in more than three decades that Steve Freckmann isn’t its general manager. Freckmann is retiring at the end of 2023 after 34 years as GM and 45 total years with Dawes.
Grainger to sell E&R Industrial Sales, Inc.
Grainger announced the sale of E&R Industrial Sales, Inc. to Paradigm Equity Partners, a Los Angeles-based private equity firm. E&R Industrial became a subsidiary of W.W. Grainger, Inc. in 2013.
Bobcat, employees donate over $175,000
Bobcat Co. and its employees recently held their annual fall giving campaign, garnering more than $175,000 in donations to nonprofit organizations in 17 states.
NetPlus Alliance: Distributors optimistic for 2024
NetPlus Alliance members remain mostly optimistic for continued growth in 2024, according to the latest NetPlus Alliance Industry Outlook, a quarterly report based on a survey of NetPlus distributors.
The Macomb Group expands in Raleigh
PVF distributor The Macomb Group has added a 57,000-square-foot building in Garner, a suburb of Raleigh, North Carolina. This location will serve the Raleigh-Durham area and surrounding markets.
HARMAN expands strategic partnership with Arvato
Arvato, a supply chain and e-commerce service provider, has expanded its strategic partnership with HARMAN International, a global provider of in high-quality audio and automotive technology, and a Samsung subsidiary.
Emerson becomes automation partner for Korean EV battery recycler
Global automation technology and software leader Emerson has been selected by Korea’s SungEel HiTech Co., Ltd., a specialist in lithium-ion battery recycling, to provide advanced automation solutions in support of sustainable production and operational efficiency goals at the newest of three lithium-ion recycling plants located at SungEel’s Hydro Center complex in Gunsan, Jeollabuk-do.
PTDA welcomes four new members
The Power Transmission Distributors Association (PTDA), the leading association for the industrial power transmission/motion control (PT/MC) distribution channel, welcomes one distributor and three manufacturers to its membership.
Global Industrial Co. releases annual ESG report
Global Industrial Co. announced the release of its annual Environmental, Social and Governance ("ESG") Report. The report is available on the company's ESG webpage.
Unemployment rate scoots down 4%
Total nonfarm payroll employment increased by 199,000 in November, and the unemployment rate edged down to 3.7%, the U.S. Bureau of Labor Statistics reported.
Platinum Tooling offers Hommel + Keller 'QUICK' catalog
Platinum Tooling, the importer and master distributor of live tools, angle heads, marking tools, Swiss tools and multi-spindle tools manufactured by various global suppliers, is the North American importer of the QUICK knurling and marking tools from Hommel & Keller. They have just released the full tooling catalog.
Kennametal named among 'Newsweek's' most responsible companies
Kennametal Inc. announced it has been named one of America's Most Responsible Companies 2024 by Newsweek – ranked 70 out of 600 companies.
Western Global promotes three to support growing sales network
Western Global, a manufacturer of fuel and fluid storage solutions, announced three promotions to expand and bolster its North American sales network. The company promoted Dean Nasato, Jeremy Shepherd and Josh Pogozelski to head-of-sales positions.
anyseals Americas hires two regional sales managers
anyseals Inc. has appointed Dawn Campbell and Chris Wheatley to the company's rapidly expanding sales team as regional sales managers. Their addition rounds out a regional sales structure the company has put into place to better serve clients across the U.S.
Former Secretary of Defense headlines NAW Executive Summit
The National Association of Wholesaler-Distributors announced Dr. Robert Gates, former Secretary of Defense (2006-2011) and director of Central Intelligence (1991-1993), as well as Alan Beaulieu, economist and author, will be joining the 2024 NAW Executive Summit to share their insights and expertise. The event takes place January 30-February 1 in Washington, D.C.
Franklin Water Treatment acquires Action Manufacturing & Supply
Franklin Electric Co., Inc. announced that its wholly owned subsidiary, Franklin Water Treatment, LLC, has acquired the assets of Action Manufacturing & Supply, Inc., a manufacturer and wholesale distributor of residential water conditioning, filtration, and indoor/outdoor aeration systems since 1980 with operations in Florida and North Carolina.
Air Hydro Power buys Lebanon Power and Apparatus
Air Hydro Power Inc. (AHP), Louisville, Kentucky, has acquired the stock of Lebanon Power and Apparatus of Lebanon and Bowling Green, Kentucky, as of December 1.
NEFCO expands Texas reach with FASCO acquisition
NEFCO, a specialty supply partner to the professional construction trades, announced the acquisition of FASCO, a Houston-based specialty construction supply distributor.
Manufacturing after-tax profits in Q3 rise 10%
The U.S. Census Bureau announced the following seasonally adjusted quarterly after- tax profits for manufacturing industries statistics for third quarter 2023:
November sales up 4% at Fastenal
Fastenal net sales for November were just under $6 million, a 3.8% increase from its $5.7 million results for the same month in 2022.
AD celebrates best of the best among its electrical divisions
AD hosted its annual Spirit of Independence Awards show at the 2023 AD Electrical North American Meeting, celebrating the best-of-the-best among AD’s three Electrical divisions in the U.S., Canada and Mexico.
October new orders total declines slightly
New orders for manufactured goods in October, down following two consecutive monthly increases, decreased $21.8 billion or 3.6% to $576.8 billion, the U.S. Census Bureau reported December 4.
Lift-All Co. announces 2024 leadership changes
Lift-All Company, Landisville, Pennsylvania, announced CFO Melissa D. Light will be promoted to the role of president, effective Jan. 1, 2024, as Steven Pacilio moves into the role of chairman of the board.
Infor partners with ETQ for quality management, EHS safety solutions
Infor, an industry cloud company, announced December 4 that it has formed a partnership with ETQ, part of Hexagon, to strengthen the solution ecosystem for food and beverage, life sciences, chemicals, fashion, and distribution enterprises requiring best-in-class quality management and environmental, health and safety solutions.
Singer Ohio acquisition adds to industrial rubber division
On December 1, Singer Industrial joined forces with Ray Lewis & Co., which will operate within the Industrial Rubber Division of Singer Industrial.
TIPCO Technologies and HydraTech Industrial Solutions unite
TIPCO Technologies and HydraTech Industrial Solutions announced they have merged, forming one of the largest independent distributors of fluid conveyance and sealing solutions in the U.S.
October construction spending rises half a percent
The U.S. Census Bureau announced total construction spending during October 2023 was estimated at a seasonally adjusted annual rate of $2,027.1 billion, 0.6% (±1.0%)* above the revised September estimate of $2,014.7 billion. The October figure is 10.7% (±1.6%) above the October 2022 estimate of $1,830.5 billion. During the first ten months of this year, construction spending amounted to $1,646.0 billion, 5.6% (±1.2%) above the $1,559.1 billion for the same period in 2022.
November manufacturing contracts
Economic activity in the manufacturing sector contracted in November for the 13th consecutive month following a 28-month period of growth, say the nation's supply executives in the latest Manufacturing ISM Report On Business.
AD Electrical recaps North American meeting
Nearly 1000 attendees from AD’s three electrical divisions in the U.S., Canada, and Mexico gathered in Grapevine, Texas, for the 2023 North American Meeting – a week of collaboration and new partnerships.
Martin welcomes new executive vice president, fastening
Martin, one of the nation’s leading providers of custom-tailored solutions for maintenance, repair, operation, and production supplies, announced the appointment of Scott McDaniel as executive vice president.
INDUSTRIAL SUPPLY MAGAZINE
The November/December issue of Industrial Supply magazine features an in-depth cover story about Kimball Midwest. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and Mike Marks, as well as interviews with numerous product and distribution industry experts.
