January 2016 News
Praxair sales down 13 percent
Praxair reported sales in the fourth quarter were $2.59 billion, 13% below the prior-year quarter, primarily due to the impacts of negative currency translation and lower cost pass-through.
B&D Industrial honors Shelton posthumously
With a room of more than 200 colleagues, industry suppliers and partners standing in ovation, the 2015 John D. Nations Award, B&D Industrial’s most prestigious award, was presented in memoriam to Steve Shelton at the company’s recent sales meeting in Stone Mountain, Ga.
Holt named president of Sandvik Coromant Americas
Sandvik Coromant has announced Sean Holt as the new president of the Americas market area.
Applied Industrial sales fall by 11.8 percent
Applied Industrial Technologies said its net sales for the fiscal 2016 second quarter were $610.3 million, a decrease of 11.8% compared with $691.7 million in the same quarter a year ago.
WESCO International sales fall by 6.7 percent
WESCO International reported fourth quarter net sales of $1.86 billion were down by 6.7 percent from the $1.99 billion in the same period the previous year.
Airgas reports 3 percent sales decline
Airgas reported third quarter sales of $1.3 billion decreased 3% compared to the prior year.
Tech Air completes Ravena Welding and Hereford Welding acquisitions
Tech Air has completed the acquisitions of New York-based Ravena Welding Supply and Texas-based Hereford Welding Supply.
Rockwell 1Q sales decline 9.4 percent
Rockwell Automation reported fiscal 2016 first quarter sales of $1.42 billion, down 9.4 percent from $1.57 billion in the first quarter of fiscal 2015.
Parker reports 14 percent sales drop
Parker Hannifin Corporation reported fiscal 2016 second quarter sales were $2.71 billion, compared with $3.13 billion in the prior year quarter.
ITW 4Q revenues down 6.5 percent
Illinois Tool Works reported fourth quarter revenues of $3.3 billion were down 6.5 percent primarily due to the impact from foreign currency translation.
3M sales and earnings decline
3M reported sales of $30.3 billion in 2015, a 4.9 percent decline from the $31.8 billion recorded in 2014.
Grainger earnings down on flat sales
Grainger reported sales of $10 billion for 2015 were flat versus 2014.
December economic growth below average
The Chicago Fed National Activity Index moved up to –0.22 in December from –0.36 in November.
Winsupply names Gordon president
Winsupply Inc. announced that Roland Gordon has been named president of the company.
Building Material Distributors join Industrial Careers Pathway
North American Building Material Distribution Association (NBMDA) is
now an Alliance Partner of Industrial Careers Pathway.
HARDI joins ICP
Heating, Air-conditioning & Refrigeration Distributors International (HARDI) has signed on as an Alliance Partner with Industrial Careers Pathway.
Wilton celebrates 75th anniversary
Wilton, a manufacturer of American-made vises and other equipment, celebrates 75 years in 2016
ISA Index shows mixed results
The January ISA Economic Indicator Report (EIR) from the Industrial Supply Association showed mixed results, with the Distributor Index rising while the Manufacturer Index declined.
3M to sell Pressured Polyurethane Foam Adhesives business
3M has agreed to sell its Pressurized Polyurethane Foam Adhesives business to Innovative Chemical Products Group (ICP Group).
Motion Industries launches pneumatics catalog
Motion Industries has launched its first online Pneumatics Catalog, which includes more than 1,800 commonly ordered items organized into 13 subcategories.
Ohio Transmission acquires PumpTek
Ohio Transmission Corporation, an industrial equipment service provider and distributor headquartered in Columbus, Ohio, announced the acquisition of PumpTek, LLC.
Wolseley names new CEO
Wolseley plc announced that chief executive officer Ian Meakins will retire on August 31.
Graybar extends service hours
Graybar announced that it is offering extended customer service hours nationwide through a centralized National Customer Service Team in St. Louis.
Industrial production dipped in December
Industrial production declined 0.4 percent in December, primarily as a result of cutbacks for utilities and mining.
Fastenal full-year sales and earnings climb
Despite a slow fourth quarter, Fastenal finished 2015 with a 3.6% sales increase.
ABB names EVP of Electrification Products division
ABB announced that Franklin Sullivan has assumed the role of executive vice president for its Electrification Products division in the United States.
Cutting tool consumption down in November
November U.S. cutting tool consumption totaled $153.7 million, down 13% from October and down 11.3% from November 2014.
IBC adds Superior Abrasives
IBC announced the addition of Superior Abrasives, Dayton, Ohio, as its newest preferred supplier.
H.B. Fuller Company 4Q sales flat
H.B. Fuller Company reported revenue of $548.1 million in the fourth quarter, a 0.1% gain from the $547.6 million reported in the same period in 2014.
Jerry Hilf remembered
John "Jerry" Hilf passed away on January 9 at the age of 59.
TPC Wire & Cable names new CEO
TPC Wire & Cable Corp. announced that Jeff Crane joined the organization as president and chief executive officer, effective Jan. 11.
NetPlus Alliance relaunches sales planning program
NetPlus Alliance is enhancing its sales planning program, adding a new online functionality and relaunching it as Growth Plus.
Lawson names new VP of field sales
Lawson Products announced the appointment of Matthew Brown as vice president of field sales, reporting to president and chief executive officer, Michael DeCata.
Manufacturing technology YTD orders down 17.2%
The U.S. Manufacturing Technology Orders report (USMTO) showed that order values grew 2.2% in November 2015 compared to the previous month, according to AMT-The Association For Manufacturing Technology.
IDI joins IDC-USA
Independent Distributors Cooperative – USA (IDC) has expanded its independent power transmission distributor network into Canada with the addition of 13 new IDC authorized locations.
Würth Group sales climbed 9%
The Würth Group reported sales of €11.05 billion in 2015 (about $12.01 billion USD), a 9 percent gain compared to sales of €10.13 the previous year.
ContiTech to expand Iowa plant
ContiTech has announced a $7.2 million expansion of its industrial hose plant in Mount Pleasant, Iowa.
Construction and manufacturing job growth
The construction industry showed strong job growth for the third consecutive month, gaining 45,000 jobs in December, the U.S. Bureau of Labor Statistics reported today.
WD-40 Q1 sales decline 4 percent
WD-40 Company reported net sales for the first quarter of fiscal 2016 were $92.5 million, a decrease of 4 percent compared to the prior year fiscal period.
Drillco Cutting Tools launches YouTube channel
Drillco Cutting Tools Inc., Baton Rouge, La., announced its new YouTube channel.
Motion Industries announces promotions
Motion Industries announced several key changes as part of the company's organizational structure alignment.
MSC sales decline 3.3%
MSC Industrial Supply Co. reported that net sales of $706.8 million in its fiscal 2016 first quarter declined 3.3% year-over-year.
Apache Inc. acquires Pacific Belting
Apache Inc. announced the company’s acquisition of Pacific Belting Inc. in Portland, Oregon.
B&D Industrial names new CFO
B&D Industrial announced that Lauren Lanter has been elected chief financial officer.
Sarringer named regional sales manager for CRP Industrial
CRP Industrial, a division of CRP Industries Inc., appointed Mike Sarringer as its regional sales manager for the West Coast.
Applied Industrial acquires HUB Industrial Supply
Applied Industrial Technologies announced it has acquired HUB Industrial Supply, a distributor of consumable industrial products. Terms of the sale were not disclosed.
Royal Adhesives & Sealants acquires Adhesive Systems
Royal Adhesives & Sealants LLC announced that it has acquired the stock of Adhesive Systems Inc.
B&D Technologies named ABB Value Provider
B&D Technologies announced that it was named the first partner in the U.S. ABB Authorized Value Provider program.
Manufacturing contracted in December
Economic activity in the manufacturing sector contracted in December for the second consecutive month.
nexAir merges with Praxair Distribution Southeast
Memphis-based nexAir LLC announced its merger with 23 Praxair Distribution Southeast LLC branches in Florida and southeast Georgia and the acquisition of two Praxair Distribution Inc. branches in eastern Georgia.
Construction spending rises
The U.S. Census Bureau announced that construction spending during November 2015 was estimated at a seasonally adjusted annual rate of $1,122.5 billion.