January 2012 News
Danaher sales soar
Danaher Corporation announced fourth-quarter 2011 sales of $4.7 billion, 37.5% higher than the same quarter in 2010.
ITW sales up 10.4 percent
Illinois Tool Works Inc. reported fourth quarter 2011 revenues of $4.319 billion, a 10.4 percent increase from the same period a year ago.
Columbus McKinnon sales rise nearly 11%
Columbus McKinnon Corporation reported net sales for the third quarter of fiscal 2012 were $142.8 million, up $14.1 million, or 10.9%, from the prior-year period.
ABB to acquire Thomas & Betts
The boards of ABB and Thomas & Betts Corporation announced that ABB will acquire Thomas & Betts for approximately $3.9 billion.
Midwest manufacturing index rises
The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 1.7% in December, to a seasonally adjusted level of 87.4.
Durable goods orders rise
New orders for manufactured durable goods increased $6.2 billion or 3.0 percent in December to $214.5 billion, the U.S. Census Bureau announced.
Timken sales climb 28%
The Timken Company reported record sales of $5.2 billion for 2011, up 28 percent from the prior year on strong demand from diverse industrial markets.
Chicago Fed National Activity Index rises
The Chicago Fed National Activity Index increased to +0.17 in December from –0.46 in November.
Eaton sales climb 10%
Eaton Corporation announced sales in the fourth quarter of 2011 were $4.0 billion, 10 percent higher than the same period in 2010.
Stanley Black & Decker sales up 17%
Stanley Black & Decker reported fourth-quarter net sales of $2.8 billion, up 17 percent versus prior year.
Airgas sales and earnings up
Airgas said its third quarter sales were $1.15 billion, an increase of 12% over the prior year.
WESCO International sales up 19.4%
WESCO International reported net sales of $1.6 billion for the fourth quarter of 2011, compared to $1.3 billion for the fourth quarter of 2010, an increase of 19.4%.
Manufacturer earnings reports
Industrial supply manufacturers including Kennametal and 3M reported record sales and earnings for the latest quarter.
Manufacturers respond to Obama State of the Union
Two major manufacturer groups welcome the attention that President Obama brought to the industry during his State of the Union speech this week.
Praxair sales rise 7%
Praxair Inc. reported fourth-quarter net income of $420 million on sales of $2.8 billion, up 7% from the prior-year quarter.
Applied Industrial Technologies sales up nearly 8%
Applied Industrial Technologies reported net sales for the second quarter increased 7.7% to $570.4 million from $529.5 million in the same period a year ago.
Grainger reports record sales
Grainger reported record sales of $8.1 billion for 2011, a 12 percent increase compared to 2010.
MSC to acquire ATS Industrial Supply
MSC Industrial Direct has signed a definitive agreement to acquire ATS Industrial Supply, Inc.
MRC opens Wyoming DC
McJunkin Red Man Corporation (MRC) opened a new regional distribution center in Cheyenne, Wyo.
BDI opens two branches
BDI (Bearing Distributors Inc.) announced the opening of new branches in Memphis, Tenn., and Winston-Salem, N.C.
Parker hits record sales and earnings
Parker Hannifin Corporation reported fiscal 2012 second quarter sales rose 8.4 percent to $3.1 billion, compared to $2.9 billion in the prior year quarter.
Airgas names VP of strategic pricing
Airgas announced that R. Jay Worley has been named vice president - Strategic Pricing.
Parker offers to buy remaining Taiyo shares
Parker Hannifin Corporation has offered to buy all of the outstanding shares not owned by Parker in Taiyo, LTD., a majority owned subsidiary of Parker headquartered in Osaka, Japan.
Industrial production rises
Industrial production increased 0.4 percent in December after having fallen 0.3 percent in November.
Fastenal Q4 sales rise 22 percent
Fastenal reported that sales rose rose about 22 percent to $697.8 million for the fourth quarter.
ISA members end 2011 on high note
According to the latest ISA Economic Indicators Report (EIR) from the Industrial Supply Association, December activity among its manufacturer and distributor members remained strong, but at a slower pace than the previous month.
Kennametal to acquire British company
Kennametal has signed a definitive agreement to purchase the Deloro Stellite Group from Duke Street Capital for approximately euro 277 million.
MRC files IPO
MRC Global Inc., formerly McJunkin Red Man Holding Corporation, has taken steps to become a publicly held corporation.
GHX names new president/CEO
Houston-based GHX Industrial announced the promotion of Richard Harrison to the position of president and CEO.
MAPI survey: Expect moderate growth
The latest quarterly Manufacturers Alliance for Productivity and Innovation (MAPI) Survey indicates an overall picture of continued growth for the industrial sector, but at a more moderate pace during the first half of 2012.
Rayovac names Evergreen Supply Outstanding Distributor
Rayovac named Evergreen Supply Company recipient of its Outstanding Distributor Award for the quarter that ended December 2011.
Graybar to open Lincoln branch
Grayba plans to open a new, full-service branch in Lincoln, Neb., on Jan. 16.
Columbus McKinnon acquires Yale Lifting Solutions
Columbus McKinnon Corporation announced that it acquired 100% of the shares of privately-held Yale Lifting Solutions (Pty) LTD located in Magaliesburg, South Africa.
Manufacturing technology orders rise
November U.S. manufacturing technology orders rose 26.6% from the previous year to $430.17 million.
Unemployment rate falls
Led in part by job gains in warehousing and manufacturing, nonform payroll employment rose by 200,000 in December and the unemployment rate fell to 8.5 percent.
Templin named AD ISD president
Affiliated Distributors announced the promotion of Jack Templin to president of the Industrial Supply Division (ISD).
MSC sales up 15.4 percent
MSC Industrial Direct reported fiscal 2012 first quarter, net sales rose 15.4% to $545.7 million, compared with $472.8 million in the prior year period.
ISM: Manufacuring expansion continues
The most recent report from the Institute for Supply Management showed that economic activity in the manufacturing sector expanded in December for the 29th consecutive month.
Barnes sells European distribution arm
Barnes Group Inc. completed the sale of its Barnes Distribution Europe (BDE) business to Berner SE in a cash transaction for approximately $33 million.
NetPlus Alliance names Washburn VP
NetPlus Alliance has hired Todd Washburn as vice president of Supplier Development.
LA-CO Industries names new president
LA-CO Industries Inc./Markal Company named George Bowman as the company's new president.