July 2011 News
Rockwell Automation sets record sales
Rockwell Automation reported record quarterly results, setting new highs for sales and earnings per share from continuing operations.
Timken Q2 sales up 31%
The Timken Company reported sales of $1.3 billion in the second quarter of 2011, an increase of 31 percent over the same period a year ago.
DXP Enterprises sales and earnings rise
DXP Enterprises announced net income of $7.6 million for the second quarter, or 50 cents per share, compared to $4.6 million, or 31 cents per share, for the second quarter of 2010.
Airgas sales up 11%
Airgas reported net earnings of $74.8 million, or 93 cents per diluted share, for its fiscal 2012 first quarter.
Manufacturing and distribution pay beginning to rise
Modest improvements in the economy are starting to become more evident as salaries for many jobs in manufacturing and distribution slowly continue to creep upwards.
Lawson Products sales rise 4.8%
Growth in sales to larger customers and the government helped Lawson Products achieve a second quarter net sales gain of 4.8% year-over-year to $84.2 million.
Precision Castparts sales and earnings up
Driven by solid top-line performance in all three of the company's major end markets, Precision Castparts Corp. improved both sequential and year-over-year sales and earnings in the first quarter of fiscal 2012.
Kennametal sales up 29%
Kennametal Inc. reported fiscal 2011 fourth quarter sales of $694 million, an increase of 29 percent compared with $539 million in the same quarter last year.
Fastenal expands into metalworking
Over the past year, Fastenal has invested aggressively to establish itself as a major national supplier to the metalworking industry.
June durable goods orders decrease
A decline in transportation equipment orders caused new orders for manufactured durable goods to fall by 2.1 percent in June to $192.0 billion, the U.S. Census Bureau announced today.
Chicago Fed Midwest Manufacturing Index unchanged
The Chicago Fed Midwest Manufacturing Index (CFMMI) was essentially unchanged in June, at a seasonally adjusted level of 84.0.
Rexnord acquires German valve maker
Rexnord LLC announced the acquisition of VAG Holding GmbH, for an estimated value of €175 million.
Eaton sales climb 21%
Eaton Corporation announced sales in the second quarter were $4.09 billion, 21 percent above the second quarter of 2010.
United Stationers posts 2.9% sales gain
United Stationers said its second quarter net sales were up 2.9% to $1.26 billion compared with $1.22 billion in the prior-year quarter.
3M sales up 14.1% for Q2
3M reported record second-quarter sales of $7.7 billion, up 14.1 percent year-on-year.
ITW revenues up 17.5%
Illinois Tool Works Inc. reported second quarter revenues of $4.615 billion increased 17.5 percent versus the year-ago period.
Construction jobs continue to lag
As construction continues to lag, the Associated General Contractors of America is urging elected officials in Washington to avoid halting airport construction projects.
Housing boosts Chicago Fed National Acitivity Index
Led by improvements in housing-related indicators, the Chicago Fed National Activity Index increased to –0.46 in June from –0.55 in May.
MRC buys Curtiss-Wright valve business
McJunkin Red Man Corporation announced an agreement to acquire the Valve Systems and Controls (VSC) business unit of Curtiss-Wright Flow Control Corporation.
Columbus McKinnon sales up 17.4%
Columbus McKinnon said its net sales for the first quarter of fiscal 2012 were $139.8 million, up 17.4%, from the prior-year period as improving demand levels drove strong order activity globally.
3M to acquire GPI Group
3M has entered into an agreement to acquire the do-it-yourself and professional business of GPI Group.
Steiner Electric forms Steiner Industrial Supply
Steiner Electric Company, headquartered in Elk Grove Village, Ill., announced the merger of the Crown Industrial Supply Division with Inland Cutting Products and the Industrial Sling Company.
Snap-on sales and earnings grow
Snap-on Incorporated's second quarter sales of $726.7 million reflect a 12.2% increase from 2010 levels.
WESCO International sales up 21.1%
WESCO International said its second quarter net sales were $1.5 billion, compared to $1.2 billion for the second quarter of 2010.
Danaher sales grow by 15.5%
Danaher Corporation reported second quarter sales of $3.7 billion, up 15.5% from the $3.2 billion in the same period last year.
BDI opens three branches
BDI (Bearing Distributors Inc.), headquartered in Cleveland, announced the opening of branches in Wilkes Barre, Penn., Easton, Maine and Los Angeles.
MSC acquires American Tool Supply
MSC Industrial Direct has acquired American Tool Supply Inc. and its affiliate, American Specialty Grinding Co. Inc.
Grainger Q2 sales up 12%
Grainger reported second quarter sales of $2.0 billion increased 12 percent versus $1.8 billion in the second quarter 2010.
Stanley Black & Decker sales up 11%
Stanley Black & Decker said its second quarter net sales were $2.6 billion, up 11% versus prior year.
Motion Industries Q2 sales hit $1 billion mark
Motion Industries sales hit the $1 billion mark in the second quarter, a record achievement for the Birmingham, Ala.-based power transmissions and bearings distributor.
MAPI: Industrial sector growth slows
The results of the quarterly Manufacturers Alliance/MAPI Survey on the Business Outlook point to continued growth in the industrial sector but at a slower rate than over the past 12 months.
Industrial production rises
Industrial production increased 0.2 percent in June after having edged down 0.1 percent in May.
Worthington acquires BernzOmatic
Worthington Industries Inc. announced that its Pressure Cylinders segment has purchased the BernzOmatic business from Irwin Industrial Tool Company, a subsidiary of Newell Rubbermaid.
Fastenal sales up 22.9%
Fastenal reported that its second quarter sales rose 22.9% to $701.7 million, compared to $571.1 million in the same period last year.
Industrial Supply earns latest Rayovac award
Rayovac named Industrial Supply, a Salt Lake City distributor of industrial tools and MRO supplies, as its latest Industrial Distributor Award recipient.
PFERD christens new facility
PFERD Inc. held a ribbon cutting ceremony in early June to celebrate the recently completed consolidation of all U.S. production and distribution operations into one 100,000 square foot state-of-the-art facility in Milwaukee, Wis.
May technology orders up vs. last year
May U.S. manufacturing technology orders fell 2.6% from April but were up 121.3% when compared with the total of $175.46 million reported for May 2010.
June manufacturing jobs grow slightly
The unemployment rate rose slightly to 9.2 percent in June, the U.S. Bureau of Labor Statistics reported today.
Zep Inc. sales and income rise
Zep Inc. reported that its revenue for the third quarter increased 9.7% to $168 million compared to the same period a year ago.
WD-40 sales up 4%
WD-40 Company reported net sales for the third quarter of $85.5 million, an increase of 4% from the third quarter last fiscal year.
WinWholesale names new president
WinWholesale Inc. appointed Jack W. Johnston, its chief financial officer, as president of the company effective July 11.
Conney Safety acquires Mettam Safety Supply
Conney Safety Products announced that it has completed the purchase of Mettam Safety Supply Company of Danville, Ill.
Butler Bros. acquires Chandler & Farquhar
Lewiston, Maine-based Butler Bros. announced the acquisition of Chandler & Farquhar, an industrial distributor located in Randolph, Mass.
WinWholesale opens Stamford, CT location
WinWholesale Inc. opened West-Fair Winair Co. in Stamford Conn., to serve Westchester County, N.Y., and southern Fairfield County in Connecticut with HVACR products.
Construction spending hits 11-year low
Construction spending fell for the sixth straight month in May, touching an 11-year low, according to analysis of Census Bureau data by the Associated General Contractors of America.
ISM: Manufacturing expansion continues
Economic activity in the manufacturing sector expanded in June for the 23rd consecutive month, according to the latest Manufacturing ISM Report On Business.
MSC sales up 18%
MSC Industrial Direct reported net sales for the fiscal 2011 third quarter of $532.4 million, an increase of 18.2%.
New president for Capital Safety Americas
Capital Safety announced that Joe Reimer has joined the company as president of the Americas region.