May 2016 News
The PTDA Business Index for the first quarter of 2016 indicates significant growth with a reading of 50.8, compared to a reading of 35.7 in the fourth quarter of 2015.
Wolseley announced that Simon Nicholls, who had been selected to become chief financial officer as part of a CEO and CFO succession plan later this summer, will not take that role.
RBC Bearings reported net sales for the fourth quarter of fiscal 2016 were $162.3 million, an increase of 43.1% from $113.4 million in the fourth quarter of fiscal 2015.
Motion Industries announced the creation of the Renewable Energy segment initiative.
Bearing manufacturer C&U Americas announced that Brad Fagan was named a strategic account manager in the Midwest and Great Lakes regions.
Dayton, Ohio-based Ritz Safety LLC has acquired Public Works Supply Inc., Donald, Oregon.
Nidec Corporation announced that it acquired a 100% ownership interest in E.C.E. S.r.l., an Italian cable hoist manufacturer.
Air Liquide announced that it has completed the acquisition of Airgas Inc.
Turner Supply Company announced the hiring of Christopher Pratt as vice president.
The fourth quarter Sales History & Outlook Report (SHOR) released by the Power Transmission Distributors Association (PTDA) shows power transmission/motion control (PT/MC) distributor sales are growing at a slower rate, with sales up 9.4 percent versus 2014.
Brady Corporation reported net earnings for its fiscal third quarter were $21.0 million, compared to $17.2 million in the same quarter last year.
Genuine Parts Company announced an acquisition for its Office Products Group.
The May ISA Economic Indicator Report (EIR) from the Industrial Supply Association showed slower growth for manufacturers and distributors in April.
Economic growth picked up in April, as the Chicago Fed National Activity Index rose to +0.10 in April from –0.55 in March.
Economic growth is expected to continue in the United States throughout the remainder of 2016, say the nation's purchasing and supply executives.
Guardair Corporation, a manufacturer of industrial MRO products, named Reid Ellis strategic territory manager, and named Kurt Nussle strategic accounts sales.
Brady Industries, a full-line janitorial supply, equipment and foodservice distributor, named Joshua Dobbins as chief financial officer.
Van Meter Inc. announced that Lura McBride has been appointed president and chief executive officer.
Dynabrade Inc., a manufacturer of abrasive power tools, announced the promotion of Steve Briggs to global key accounts manager.
The PTDA Foundation created the Champions Club to recognize Power Transmission Distributors Association members for their support of the Foundation, in particular the Industrial Careers Pathway (ICP).
Engis Corporation, a supplier of diamond abrasives and superfinishing machinery and systems, named Sean Gilmore as its new president.
Industrial production increased 0.7 percent in April after decreasing in the previous two months.
Lincoln Electric Holdings has acquired Vizient Manufacturing Solutions, a privately held robotic integrator specialized in custom engineered tooling and automated arc welding systems for general and heavy fabrication applications.
DXP Enterprises reported sales of $253.6 million for the first quarter of 2016, compared to $341.6 million for the first quarter of 2015, a decrease of 25.8 percent.
IBC announced the addition of Micro 100 Tool Corporation as a preferred supplier of solid carbide boring tools, end mills, threading tools, and ring groove tools.
Dorner Holding Corp., the parent company of Dorner Mfg. Corp., announced the acquisition of Jülich, Germany-based Geppert-Band, a manufacturer of belt and modular belt conveyors.
North American Tool Corporation appointed Bridget Turner as technical service associate in the company’s customer service department.
Hexagon Manufacturing Intelligence announced a "HxGN LOCAL" grand opening at its newest Solution Center in Wilmington, Del., on May 19.
Grainger reported daily sales for April 2016 increased 4 percent versus April of 2015.
March U.S. cutting tool consumption totaled $184.08 million according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology.
Southwire recently held a groundbreaking for the Thorn Customer Solutions Center in Carrollton, Ga.
Distribution industry consultant and Industrial Supply magazine contributor Dick Friedman is offering a free booklet to help distributors compete more effectively.
Regal Beloit Corporation reported total net sales decreased 10.3% to $818 million from $912 million the prior year.
Lawson Products announced the acquisition of F.B. Feeney Hardware in Mississauga, Ontario, Canada.
Streamlight Inc., a provider of high-performance lighting, announced that Pacific Technical Sales Inc. has been named the company’s 2015 Sales Rep Agency of the Year for the industrial market.
MCR Safety announced new appointments to its management team.
The U.S. Manufacturing Technology Orders report (USMTO) for March 2016 showed that orders grew 36.9% compared to the previous month, according to AMT – The Association For Manufacturing Technology.
Jason Industries Inc. reported a first quarter net loss of $3.0 million and diluted loss per share of 15 cents, on net sales of $191.0 million.
JIS, Division of Jergens Inc., has acquired certain assets of B&G Supply of Akron, Ohio.
Pentair recently completed a 65,000-square-foot expansion at its Redwood City operations in California’s Silicon Valley.
The manufacturing and construction industries both showed small job gains in April, as the unemployment rate was unchanged at 5.0 percent.
Fastenal reported sales of $331.5 million in April, down 0.9 percent from $334.5 million in April 2015.
Allied Motion Technologies reported sales for the first quarter were $63.7 million, a 6.9% increase from $59.6 million in the 2015 first quarter.
Justrite Mfg. Company announced its acquisition of Hughes Safety Showers Ltd., a UK-based manufacturer of industrial eyewash and safety showers.
NOW Inc. reported a net loss of $63 million, or 59 cents per fully diluted share, in the first quarter, compared to net loss of $10 million, or 9 cents in the same period of 2015.
Kaman Industrial Technologies reported sales of $288.7 million for the first quarter, down 7.3 percent from $311.5 million in the same period last year.
Kenneth S. Parks, senior vice president and chief financial officer of WESCO, tendered his resignation to accept a position with Mylan N.V., a global pharmaceutical company.
Hyde Industrial Blade Solutions (IBS), a division of Hyde Tools Inc., has acquired two manufacturing firms to bolster the company’s offerings in the plastics and tire and rubber marketplaces.
Economic activity in the manufacturing sector expanded in April for the second consecutive month.
Affiliated Distributors reported sales for all AD members across all seven divisions and three countries grew by 9% in 2016 Q1 YTD to a record $8.7 billion.