June 2010 News
WESCO acquires Potelcom Supply
WESCO International Inc. has acquired Potelcom Supply Inc., headquartered in Anchorage, Ala.
Eaton and Linde form alliance
Diversified industrial manufacturer Eaton Corporation and Linde Hydraulics, a division of KION Group GmbH, have entered into a global strategic alliance.
Zep earnings and sales increase
Zep Inc. reported Q3 net income of $5.2 million, based on sales of $153.0 million.
Texas factory activity declines
Texas factory activity declined slightly in June, according to business executives responding to the Texas Manufacturing Outlook Survey.
Gulf Coast distributors grapple with oil spill
Distributors serving the Gulf Coast oil and fishing industries have been hit hard by the recent oil spill.
Midwest manufacturing activity increases
The Chicago Fed Midwest Manufacturing Index increased 1.7% in May, to a seasonally adjusted level of 86.7.
Kennametal signs $500 million loan agreement
Kennametal Inc. announced the signing of a $500 million five-year credit agreement.
Index: economic activity continued to expand in May
The Chicago Fed National Activity Index edged lower to +0.21 in May from +0.25 in April.
GDP growth revision lowered
The Commerce Department said the U.S. economy grew by 2.7 percent in the first quarter, lower than what government forecasters previously projected.
Durable goods orders decreased in May
New orders for manufactured durable goods in May decreased $2.2 billion or 1.1 percent to $192.0 billion, the U.S. Census Bureau announced today.
H.B. Fuller Co. revenues up 16 percent
H.B. Fuller Company reported that its net revenue totaled $347.9 million, up 16 percent year-over-year and 12 percent compared to last quarter.
Central Atlantic manufacturing grows
Manufacturing activity in the central Atlantic region expanded for the fifth consecutive month, according to the Richmond Fed's latest survey.
Proposed taxes may hurt manufacturers
A new report suggests that tax increases in President Obama's 2011 budget proposals will have unintended adverse consequences on American businesses, and on manufacturers in particular.
Federal-Mogul acquires piston maker
Federal-Mogul has acquired the Daros Group, a maker of piston rings for large-bore engines used in industrial energy generation and commercial shipping.
Grainger forms joint venture in Colombia
Grainger has formed a joint venture with a Colombian MRO and fastener distributor to establish Grainger Colombia.
Philly area manufacturing expands
Philadelphia area regional manufacturing activity continues to expand in June, but at a slower pace than in May.
Wholesale prices fall in May
Wholesale prices fell for a second straight month in May, the first time that has happened in a year.
Housing starts decline in May
May housing starts were at a seasonally adjusted annual rate of 593,000, 10.0 percent below April, but 7.8 percent above the May 2009 rate of 550,000.
Canadian manufacturing advances
Manufacturing sales in Canada advanced 0.2% in April to $44.5 billion, according to Statistics Canada.
Industrial production rises
Industrial production advanced 1.2 percent in May after having risen 0.7 percent in April.
Lakeland Industries sales and profits up
Lakeland Industries reported that its net sales increased $1.4 million, or 5.8%, to $25.4 million for the three months ended April 30.
PTDA member sales declined in April
U.S. and Canadian manufacturers’ sales dropped in April, after increases in February and March.
Empire State manufacturing makes gains
Conditions for New York manufacturers improved in June according to the latest Empire State Manufacturing Survey from the New York Fed.
Metalformers expect summer slowdown
Metalforming companies expect business conditions to dip during the next three months, an indication of the summer slowdown typically experienced by the industry.
ITW revenues up 21 percent
Illinois Tool Works Inc.reported total company operating revenue increased 21 percent for the three months ended May 31 versus the year-ago period.
Manufacturing technology consumption rises
April U.S. manufacturing technology consumption totaled $222.36 million, up 102.7% from $109.69 million reported for April 2009.
HD Supply sales decline 5.7 percent
HD Supply reported net sales for the first quarter of fiscal 2010 of $1.8 billion, a decline of 5.7 percent compared to the first quarter of fiscal 2009.
Applied wins award
Applied Industrial Technologies has earned the Platinum Alliance Supplier award from Vulcan Materials Company for its excellent service in 2009.
MAPI: domestic manufacturing getting healthier
The U.S. domestic manufacturing sector is showing signs of health and continued recovery, according to the Manufacturers Alliance/MAPI.
Grainger sales up 16 percent in May
Grainger reported sales results for the month of May 2010 increased 16 percent versus May 2009.
MDM names biggest distributors
Modern Distribution Management's first annual MDM Market Leaders and Distribution Landscape Report is now available.
Cahill to retire from Kaman
T. Jack Cahill, president of Kaman Industrial Technologies Corporation, will retire on August 31, 2010.
IDG finalizes buyout of Alamo Iron Works
Industrial Distribution Group finalized its acquisition of Alamo Iron Works on June 7.
WESCO sells interest in LADD Industries
WESCO International has sold its 40% interest in LADD Industries LLC to Deutsch Engineered Connecting Devices Inc.
Survey: Larger manufacturers and distributors more optimistic
A new survey reports that larger manufacturers and distributors convey higher optimism than other manufacturers and distributors regarding business conditions.
Garlock seeks end to asbestos-related claims
Garlock Sealing Technologies LLC announced that it has taken a step toward a permanent resolution of asbestos-related personal injury claims against the company.
Allied Motion acquires Agile Systems
Allied Motion Technologies Inc. announced it completed the purchase of Agile Systems Inc., a privately owned developer of motion control technology.
29,000 manufacturing jobs added in May
Manufacturing employment increased by 29,000 in the month of May, according to the U.S. Bureau of Labor Statistics.
Manufacturing productivity rises
Manufacturing sector productivity grew 1.5 percent in the first quarter of 2010, according to newly released data from the U.S. Bureau of Labor Statistics.
Drives LLC adds Ontario warehouse
Drives LLC announced that it is adding a warehouse location in Brampton, Ontario, Canada.
Air Products extends Airgas tender offer
Air Products & Chemicals Inc. extended its $60-a-share tender offer for Airgas Inc. for the second time, moving the deadline to Aug. 13 from June 4.
RBC Bearings Q4 sales drop 4.8 percent
RBC Bearings reported fourth quarter net sales of $79.8 million, a decrease of 4.8% from $83.8 million in the fourth quarter of fiscal 2009.
Manufacturing expands in Texas
Texas factory activity continued to expand in May, according to the monthly Texas Manufacturing Outlook Survey by the Federal Reserve Bank of Dallas.
Atlas Copco takes over southern U.S. tool distribution
Atlas Copco Tools & Assembly System has agreed to take over the marketing of its products and services in the southern United States from its current distributor, Tooling Technologies Inc.
Construction spending up 2.7 percent
Construction spending during April was estimated at a seasonally adjusted annual rate of $869.1 billion, 2.7 percent above the revised March estimate of $845.9 billion.
McJunkin Red Man acquires South Texas Supply
McJunkin Red Man Corporation announced the acquisition of South Texas Supply Company Inc.
Manufacturing expands at slower pace
Economic activity in the manufacturing sector expanded in May for the 10th consecutive month.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
