May 2012 News
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.
Wesco Aircraft Holdings to buy Interfast
Wesco Aircraft Holdings Inc., a provider of supply chain management services to the global aerospace industry, has agreed to acquire Interfast Inc. for $134 million Canadian.
Moskowitz remembered
Alan Moskowitz, the longtime CEO of Leight Sales Co. of Carson, Calif., died on May 13 following a battle with cancer.
RBC Bearings income rises 57%
RBC Bearings said that its net sales for the fourth quarter of fiscal 2012 were $111.3 million, an increase of 25.2% from $88.9 million in the fourth quarter of fiscal 2011.
Chicago Fed Midwest Manufacturing Index up in April
The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 2.4% in April, to a seasonally adjusted level of 94.2.
Interline Brands to be acquired
Interline Brands Inc. has entered into a definitive agreement to be acquired by affiliates of GS Capital Partners LP and P2 Capital Partners LLC.
BSA survey shows sales up 14.7%
The Bearing Specialists Association (BSA) Annual Distributor Survey revealed aggregate sales volume increased 14.7% in 2011 over the 2010 volume.
DGI Supply to acquire K & H Sales
DGI Supply, a DoALL Company, announced that it has signed a letter of intent to acquire all assets of K & H Sales Inc. in Northern California.
Guardair acquires Allen Gasket Cutting Machine
Guardair Corporation announced it has acquired the assets of Allen Gasket Cutting Machine Co. of New Bedford, Mass.
Marco Supply acquires Superior Concrete Supply
Marco Supply Company, headquartered in Roanoke, Va., has acquired certain assets of Superior Concrete Supply, Monroe, Ga.
PIP acquires ISSI
Protective Industrial Products has agreed to acquire Integrated Sourcing and Supply Innovators LLC, a safety eyewear company.
Thermadyne changes name to Victor Technologies
Thermadyne Holdings Corporation has changed its name to Victor Technologies Group Inc.
Eaton to acquire Cooper Industries
Eaton Corporation and electrical equipment supplier Cooper Industries plc announced they have entered into a definitive agreement under which Eaton will acquire Cooper.
Chicago Fed National Activity Index rises
Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) rose to +0.11 in April from -0.44 in March.
ISA Index falls for second month
According to the latest ISA Economic Indicators Report (EIR) from the Industrial Supply Association, activity among its manufacturer and distributor members decreased for the second month in a row but remains in positive territory.
Beacon Roofing Supply to acquire Cassady Pierce
Beacon Roofing Supply has reached an agreement to acquire Cassady Pierce Company, a distributor of residential and commercial roofing products and related accessories headquartered in Pittsburgh, Pa.
Precision Castparts sales up 16%
Precision Castparts Corp. said its sales increased 16 percent to $1.95 billion in the fourth quarter of fiscal 2012.
Lincoln Electric acquires Wayne Trail Technologies
Lincoln Electric Holdings has acquired Wayne Trail Technologies Inc., a privately held manufacturer of automated systems and tooling.
April industrial production increased
Industrial production increased 1.1 percent in April according to the Federal Reserve.
Brady Corporation sales fall 1.9%
Brady Corporation reported sales for the fiscal 2012 third quarter were down 1.9 percent to $331.6 million.
Home Depot earnings rise
The Home Depot reported sales of $17.8 billion for the first quarter of fiscal 2012, a 5.9 percent increase from the first quarter of fiscal 2011.
PTDA members see growth
The PTDA Business Index indicated that the first quarter was the eighth consecutive quarter for business growth among PTDA members, with a reading of 75.4.
Technology orders up 11.3% in March
March U.S. manufacturing technology orders totaled $495.97 million according to AMT - The Association For Manufacturing Technology.
Rexnord sales climb 19%
Rexnord said its fourth-quarter net sales increased 19% over the prior year to $546 million.
Allied Motion earnings remain flat
Allied Motion Technologies reported net income of $1.15 million, or 14 cents per diluted share compared to $1.21 million, or 14 cents per diluted share, for the first quarter.
Acklands-Grainger opens Saskatoon facility
Acklands-Grainger Inc. celebrated the grand opening of its new 122,000 square-foot facility in Saskatoon, Saskatchewan.
Grainger April sales up 12%
Grainger reported sales for the month of April increased 12 percent versus April 2011.
Manufacturing growth to continue
Economic growth is expected to continue in the United States throughout the remainder of 2012, according to the Institute for Supply Management's semiannual economic forecast.
Tanner Fasteners acquires City Sprint Safety
Tanner Fasteners & Industrial Supplies has acquired City Sprint Safety & Supply of Long Island City, N.Y.
Interline Brands sales up 5.4%
Interline Brands reported first-quarter sales of $313.6 million, a 5.4% increase compared to $297.4 million in the comparable 2011 period.
NetPlus Alliance adds suppliers
NetPlus Alliance, a buying group for industrial and contractor supplies distributors, added three new manufacturers as preferred suppliers.
Evergreen Names Distributors and Suppliers of the Year
Acme Tools, Jim & Slims and Jobsite Supply named Distributors of the Year.
PTDA Summit registrations opens in June
Top executives in power transmission and motion control (PT/MC) will converge at the 2012 PTDA Industry Summit in Dallas, Texas, to capture “Big Ideas to Steer Your Business.”
3M recognizes ISA distributors
3M recognized three companies with “Distributor of the Year” awards at the 2012 Industrial Supply Association (ISA) Product Show & Conference in San Antonio, Texas on Monday, April 23.
BDI moves Charlotte, Chicago branches
BDI (Bearing Distributors Inc.) announced the relocation of its Charlotte, N.C., and Chicago area branches.
NN Inc. sales fall 6.1%
NN Inc. reported net sales for the first quarter decreased 6.1% to $104.5 million, compared to $111.3 million for the same period of 2011.
MRC sales up 39%
MRC Global Inc. reported first-quarter sales of $1.383 billion were up 39% from $992 million in the first quarter of 2011.
Oilind Safety changes name
Airgas announced that Oilind Safety Inc. changed its name to Airgas On-Site Safety Services Inc.
Manufacturing gained jobs in April
Manufacturing employment continued to trend up, adding 16,000 jobs in April, according to figures released by the U.S. Bureau of Labor Statistics.
Saint-Gobain sales up 3.7%
Saint-Gobain said first-quarter sales increased 3.7% to EUR10.16 billion (US$13.3 billion) as higher prices offset falling volumes.
Airgas reports 13% sales increase
Airgas reported fiscal fourth quarter sales were $1.24 billion, an increase of 13% over the prior year.
Manufacturing productivity increased in Q1
Manufacturing sector productivity rose 5.9 percent in the first quarter of 2012, as output grew 10.8 percent and hours worked increased 4.6 percent, the U.S. Bureau of Labor Statistics reported today.
DXP Enterprises sales jump 37.8%
DXP Enterprises Inc. announced that sales for the first quarter of 2012 increased 37.8% to approximately $252.3 million from $183.1 million for the same period in 2011.
Shepherd Controls expands Dunkermotor line
Texas-based automation and motion controls distributor Shepherd Controls & Associates has expanded beyond the Dunkermotor linear motor line to become a full line authorized channel partner for the Dunkermotor fractional horsepower brushed and brushless DC motors and intelligent servo motors.
Construction spending higher in March
Construction spending inched up in March 2012 to an annualized rate of $808 billion.
Manufacturing continues its growth trajectory
The Institute for Supply Management said the nation's manufacturing base continued its growth in April.
DXP Enterprises to acquire HSE Integrated
DXP Enterprises and HSE Integrated Ltd. have entered into a definitive agreement in which DXP will acquire all of the outstanding shares of HSE common stock.
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.
