October 2011 News
US LBM makes new acquisition
BlackEagle Partners acquired the Midwest operations of Lyman Lumber Company, including its Chanhassen location, Automated Building Components, Carpentry Contractors Corp., and Lyman Lumber of Wisconsin.
Sonepar acquires OneSource Distributors
Sonepar USA, a subsidiary of the privately-held Sonepar Group, has acquired OneSource Distributors, headquartered in Oceanside, Calif. Terms were not disclosed.
Airgas raises prices
Airgas Inc. announced price increases from 8% to 20% beginning Dec.1.
Praxair sales up 14%
Praxair Inc. reported third-quarter sales were $2.89 billion, 14% above the previous-year quarter.
Manufacturers report earnings
Several industrial supply manufacturers turned in strong quarterly financial reports.
DXP Enterprises sales rise 20.7%
DXP Enterprises reported a 20.7% increase in sales for the third quarter. Sales of $207.9 million compared to $172.2 million for the same period in 2010.
Barnes Group sales grow by 12 percent
Barnes Group Inc. said its third-quarter net sales grew 12 percent to $325.4 million, up from $289.9 million in the third quarter of 2010.
MSC sales up 15.6%
MSC Industrial Direct reported net sales for the fourth quarter of fiscal 2011 of $533.2 million, an increase of 15.6% over $461.4 million in the same period last year.
MAPI: 'Clear and Present Dangers' to the World Rebound
An escalating debt crisis in the Eurozone, combined with stagnating U.S. economic growth, now constitutes a clear and present danger to the world economic rebound, according to a new report.
Airgas reports record earnings
Airgas reported record net earnings of $77.7 million, or $1.01 per diluted share, for its second quarter.
Puzio retires from NetPlus Alliance
NetPlus Alliance announced the retirement of Karl Puzio, vice president of supplier relations.
Applied Industrial Technologies sales up 9.9%
Applied Industrial Technologies reported net sales for the first quarter of fiscal 2012 increased 9.9% to a record $579.5 million from $527.5 million in the comparable period a year ago.
Eaton income up 37%
Eaton Corporation announced record net income per share of $1.07 for the third quarter of 2011, an increase of 37 percent over the $0.78 earned in the third quarter of 2010.
United Stationers sales up 3.1%
Wholesaler United Stationers said its net sales in the third quarter were $1.3 billion, up 3.1% from the prior-year quarter.
Activity Index increased to -0.22 in September from -0.59 in August.
MSC makes executive appointments
MSC Industrial promoted Erik Gershwind to president from executive vice president.
WESCO International sales up 19.3%
WESCO International reported consolidated net sales of $1.5 billion for the third quarter of 2011, compared to $1.3 billion for the same period in 2010.
Industrial production up in September
Industrial production increased 0.2 percent in September after having been unchanged in August.
Fastenal sales climb 20%
Fastenal said its sales for the third quarter climbed 20.4% to $726.7 million.
MBS Dev moves to new location
MBS DEV, an enterprise resource planning (ERP) software provider for distributors, wholesalers, and resellers, announced the company's move from its former location in Englewood, Colo., to a larger space in the Denver Tech Center.
Ingram wins Warren Pike award
Recently retired Carlos Ingram of Kaman Industrial Technologies received the 22nd Warren Pike Award from the Power Transmission Distributors Association (PTDA).
Motion Industries sales up 18%
Sales for Motion Industries reached over $1 billion for the second straight quarter and were up 18%.
Grainger reports record Q3 results
Grainger said its third-quarter sales of $2.1 billion increased 11 percent versus $1.9 billion in the third quarter 2010.
MRC names new COO, CFO
McJunkin Red Man Holding Corporation (MRC) appointed James F. Underhill as executive vice president and chief operating officer – North America and James E. Braun as executive vice president and chief financial officer.
Applied Industrial names new CEO
Applied Industrial Technologies announced that Neil A. Schrimsher will become the company's new chief executive officer effective Oct. 25.
Kaman acquires Plains Bearing
Kaman Industrial Technologies Corporation has acquired certain assets of Plains Bearing Corp., a full line bearing and power transmission distributor with one location in Lubbock, Texas.
MAPI manufacturing index falls slightly
The results of the quarterly Manufacturers Alliance/MAPI Survey on the Business Outlook shows manufacturing maintaining momentum in the face of economic uncertainty.
DXPE acquires Kenneth Crosby
DXP Enterprises Inc. announced the acquisition of Kenneth Crosby, a distributor of cuttings tools, abrasives, fasteners, gauges and industrial tools.
Alternative energy market overview
Sonnhalter, a communications firm marketing to the professional tradesman in the construction, industrial and MRO markets, released a market overview for the alternative energy industry.
Bragg to retire from N.H. Bragg & Sons
N. H. Bragg & Sons, a distributor of industrial, safety and janitorial supplies in Maine and New Hampshire, has announced the retirement of John W. Bragg effective Nov. 1.
Grainger divests Korean joint venture
Grainger announced that it divested its 49 percent stake in MRO Korea to affiliates of its former partner, SK Networks, for $12 million.
IDG launches new e-commerce site
Industrial Distribution Group Inc. (IDG) announced the launch of its new shopping site, ShopIDG.com, which will feature tens of thousands products.
August technology orders up vs. last year
August U.S. manufacturing technology orders totaled $460.61 million, up 88.5% compared with $244.35 million reported for August 2010.
Kaman earns Goodyear Star status
Kaman Industrial Technologies Corporation announced that it has been awarded Goodyear Engineered Products' Star Distributor status by Veyance Technologies for industrial hose assemblies and services.
Praxair makes acquisition
Praxair Distribution Inc. has acquired National Alloy and Equipment Inc. of Houston.
Employment report mixed
The construction and mining industries both gained jobs during the month of September, but manufacturing lost 13,000 jobs.
Construction spending grows
The Department of Commerce said construction spending climbed 1.4 percent during the month of August compared to July.
Timken completes Drives LLC acquisition
The Timken Company has completed the $92 million acquisition of Drives LLC, a manufacturer of drive-chains, roller-chains and conveyor augers for the mobile and industrial machinery sectors.
WinWholesale opens San Antonio Winnelson
San Antonio Winnelson Co. has opened to provide plumbing contractors in San Antonio, Texas, and the surrounding area with a complete line of plumbing equipment, parts and accessories.
Manufacturing expands for 26th month
The latest Institute for Supply Management survey shows that output at the nation's factories grew for the 26th consecutive month in September.