June 2012 News
PTDA 2012 Industry Summit registration opens
More than 500 power transmission/motion control (PT/MC) executives are expected to convene at the Power Transmission Distributors Association’s (PTDA’s) Industry Summit “Big Ideas to Steer Your Business.”
Applied adds 2,000 products to catalog
Applied Industrial Technologies announced the availability of its 2012 / 2013 Applied Product Catalog with more than 2,000 new products.
MSC Industrial sales up 15%
MSC Industrial Direct reported net sales rose 15.0% to $612.0 million, compared with $532.4 million in the prior year period.
Lawson Products to eliminate 100 jobs
Lawson Products announced a strategic restructuring plan that includes eliminating 100 positions and negotiating a new $40 million credit facility.
Midwest manufacturing index falls
The Chicago Fed Midwest Manufacturing Index decreased 1.0% in May, to a seasonally adjusted level of 93.4.
H.B. Fuller Company income falls
H.B. Fuller Company reported second quarter net income of $1.9 million, or 4 cents per diluted share, compared to $25.1 million, or 50 cents per diluted share, in last year's second quarter.
Osborn shifts Loan Runners production
Osborn announced that its has relocated all manufacturing of its popular Load Runners idler roller line to the company's existing factory in Richmond, Ind.
Chicago Fed Index slows
Led by declines in production-related indicators, the Chicago Fed National Activity Index (CFNAI) decreased to -0.45 in May from +0.08 in April.
Nunez named IBC president
Industrial Supply Plus Inc. (IBC) formally announced the appointment of Ron Nuñez as president of the Hartford-based supply chain management company.
Praxair opens Rhode Island location
Praxair Distribution Inc. announced the opening of a new store in Warwick, R.I., that will meet the growing demand for packaged gases and related products.
MAPI: Manufacturing to log significant growth
U.S. manufacturing will leverage solid first quarter momentum to a significant growth increase in 2012, according to the quarterly Manufacturers Alliance for Productivity and Innovation (MAPI) U.S. Industrial Outlook.
French firm buys BMG Metals
Descours and Cabaud Inc., a French industrial and steel distributor, has purchased a controlling interest in BMG Metals Inc., a Richmond, Va.-based steel service center.
MSC to co-locate headquarters
MSC Industrial Direct announced plans to co-locate its corporate headquarters in Davidson, N.C., in addition to its current location in Melville, N.Y.
ISA Economic Indicator Report improves
The monthly Economic Indicators Report (EIR) from the Industrial Supply Association increased significantly in May, following two months of slower growth.
Equity firm buys Dorner Mfg. Corp.
Dorner Mfg. Corp., a designer, manufacturer, and supplier of conveyor systems and components parts, has been acquired by the private equity firm Incline Equity Partners.
WESCO to acquire Conney Safety
WESCO International Inc. announced that it has entered into a definitive agreement to acquire Conney Safety Products LLC.
Industrial production dips in May
Industrial production edged down 0.1 percent in May after having gained 1.0 percent in April.
Snap-on hosts Wounded Warriors
Snap-on Incorporated honored the country’s wounded warriors, hosting the annual "Soldier Ride" at its corporate headquarters in Kenosha, Wis.
HD Supply division to buy Peachtree Business Products
HD Supply Facilities Maintenance has entered into a definitive agreement to purchase Peachtree Business Products.
sia Abrasives opens new plant
sia Abrasives has opened a new manufacturing plant for coated abrasives at its headquarters in Frauenfeld, Switzerland.
Mallory Safety and Supply acquires training company
Mallory Safety and Supply has acquired the ENSA North America training division of Airstreams Renewables Inc.
PTDA Distributor Performance Report issued
High-profit power transmission distribution firms had sales of $35.8 million in 2011 and a pre-tax profit of 6.8 percent.
GHX acquires Key City Warehouse Sales
Houston-based GHX Industrial LLC has acquired Abilene, Texas-based Key City Warehouse Sales.
Manufacturing technology orders up in April
April U.S. manufacturing technology orders totaled $410.42 million, 2.9% higher than the same month a year ago.
Grainger May sales up 13%
Grainger reported sales results for the month of May increased 13% versus May 2011.
HD Supply sales up 14.2%
Despite a 14.2% sales gain for the first quarter of fiscal 2012, HD Supply posted a loss of $376 million.
WESCO to acquire Trydor Industries
WESCO Distribution Inc. announced a plan to acquire Trydor Industries (Canada) Ltd., headquartered in Surrey, British Columbia.
Manufacturing productivity rises
Manufacturing sector productivity rose 5.2 percent in the first quarter of 2012, as output grew 10.0 percent and hours worked increased 4.6 percent.
MRC Global to acquire Chaparral Supply
MRC Global Inc. signed an agreement to acquire Cherokee, Oklahoma-based Chaparral Supply LLC, a wholly owned subsidiary of SandRidge Energy Inc.
BDI acquires Brown Bearing
Bearing Distributors Inc. announced its acquisition of Spokane, Wash.-based Brown Bearing Co.
Praxair acquires 5 Airgas Canada locations
Airgas Inc. and Praxair Inc. announced the acquisition by Praxair Canada Inc. of five Airgas branch locations in western Canada.
Manufacturing growth slows in May
Economic activity in the manufacturing sector expanded in May at a slower pace than the previous month according to the latest Manufacturing ISM Report On Business.
Stanley/Black & Decker Buys Powers Fasteners
The long-rumored acquisition of Powers Fasteners by Stanley Black & Decker has finally materialized.
Manufacturers add 12,000 jobs in May
The nation's manufacturers added 12,000 jobs in May, continuing a hiring trend that has remained strong for much of the year.
Mazzarella named Graybar president
Graybar announced that Kathleen M. Mazzarella has become the company’s 11th president and CEO, effective today.
Kaydon Corp. to buy Fabreeka
Kaydon Corporation has agreed to purchase Stoughton, Mass.-based Fabreeka Group Holdings Inc.
Turtle & Hughes buys Mag-Trol
Turtle & Hughes Inc. has acquired Mag-Trol Long Beach Inc., a distributor of electrical and automation equipment, supplies and renewal parts based in Long Beach, Calif.
Real GDP up 1.9%
Real gross domestic product increased at an annual rate of 1.9 percent in the first quarter of 2012, according to the Bureau of Economic Analysis.
MAPI says recovery to continue
Robust spending on goods in the first quarter of 2012 is enabling manufacturing to continue leading the U.S. economic recovery.
