October 2016 News

Nowak receives PTDA Warren Pike Award
The Power Transmission Distributors Association (PTDA) named Keith Nowak, president, MPT Drives Inc. of Madison Heights, Michigan, the 26th recipient of its Warren Pike Award.

PTDA Foundation gives Miller Wendy B. McDonald Award
The PTDA Foundation recognized Linda Miller of B & D Industrial with the 2016 Wendy B. McDonald Award at the annual PTDA Summit.

DGI Supply opens Charlotte office
DGI Supply announced the opening of a new regional office in Charlotte, North Carolina.

PTDA adds five distributor members
The Power Transmission Distributors Association (PTDA) recently welcomed five new distributor members are new other companies.

Kaman Distribution sales fall 7.4 percent
Kaman Industrial Technologies saw sales fall 7.4 percent in the third quarter to $274.4 million, compared to $296.3 million in the same period last year.

Stanley Black & Decker sales up 2 percent
Stanley Black & Decker reported net sales for the third quarter were $2.9 billion, up 2% versus prior year, as positive volume (+2%) and price (+1%) more than offset currency (-1%).

Praxair sales up 1 percent
Praxair reported third-quarter net income of $339 million, or $1.18 per share, on sales of $2.71 billion, 1% above the prior-year quarter.

Timken sales fall 7 percent
The Timken Company reported third-quarter 2016 sales of $657 million, down approximately 7 percent from $707 million in the same period a year ago.

Kennametal posts loss on 14 percent sales decline
Kennametal Inc. reported first quarter fiscal 2017 sales of $477 million, compared with $555 million in the same quarter last year.

WESCO International sales fall 3.6 percent
WESCO International said its net sales for the third quarter were $1.86 billion, compared to $1.92 billion for the third quarter of 2015, a decrease of 3.6%.

Essendant sales up 1.1 percent
Essendant Inc. reported third quarter net sales increased 1.1% year-over-year to $1.4 billion.

Carlisle sales up by 1.8 percent
Carlisle Companies reported net sales of $991.0 million for the third quarter of 2016, a 1.8% increase from $973.1 million in the third quarter of 2015.

IBC and Safety Marketing Group form alliance
IBC announced that it has joined forces with the Safety Marketing Group (SMG) in a unique alliance that will benefit members and preferred suppliers of both organizations.

Applied sales down 2.7 percent
Applied Industrial Technologies reported fiscal 2017 first quarter net sales of $624.8 million, a decrease of 2.7% compared with $641.9 million in the same quarter a year ago.

Hyde Industrial Blade Solutions names controller
Hyde Industrial Blade Solutions (IBS) today announced that Richard “Rick” Howard has been hired in a newly created position of controller at the manufacturer of industrial knives and blades.

Parker sales decline 4.5 percent
Parker Hannifin reported fiscal 2017 first quarter sales were $2.74 billion, compared with $2.87 billion in the prior year quarter, a decline of 4.5 percent.

3M sales flat but earnings grew in 3Q
3M reported third-quarter earnings of $2.15 per share, an increase of 4.9 percent versus the third quarter of 2015.

Mahar Tool Supply joins DPA Buying Group
The DPA Buying Group welcomed Mahar Tool Supply Co. Inc. as a new distributor member.

Greco wins IWDC award
In recognition for his contributions to IWDC, the industrial gas and welding industry and surrounding Pittsburgh, Pennsylvania, community, Joe Greco received the Bob Jackson Memorial Award at IWDC’s Owners’ Meeting in Dana Point, California.

Industry veterans launch AgoNow wholesale business
AgoNow LLC, a pure industrial wholesaler and channel solutions provider based in Tulsa, Oklahoma, will open for business in November 2016.

Economic growth picked up in September
The Chicago Fed National Activity Index increased to –0.14 in September from –0.72 in August.

DXP Enterprises expects sales decline of up to 24.8 percent
DXP Enterprises released preliminary unaudited financial information for its fiscal quarter, saying that the company expects sales to decline by up to 24.8 percent.

Lawson Products 3Q sales flat
Lawson Products reported net sales of $70.2 million for the third quarter, up sequentially 1.2% over the second quarter and equal to a year ago.

WD-40 Company sales up 6 percent
WD-40 Company posted net sales for the fourth quarter of $97.2 million, an increase of 6 percent compared to the prior year fiscal quarter.

Bailey to retire from IDC-USA
IDC-USA announced that Jack L. Bailey plans to retire as president and CEO at the end of the year.

Twin City Hose announces rebranding effort
Twin City Hose Inc. (TCH) unveiled a re-branding to coincide with the company's growth, expanded product offerings, and entry into new markets.

Motion Industries reports flat quarter
Motion Industries reported sales of $1.16 billion in the third quarter, a 0.7 percent sales decline from $1.17 billion in the same period last year.

Harrington Hoists unveils new logo
Harrington Hoists Inc. recently unveiled a new corporate logo which is the first step in its strategy to unify branding within the KITO Group Companies of Harrington Hoists Inc., Peerless Industrial Group, KITO Canada Inc. and KITO Do Brasil.

Apex Tool Group names senior VP
Apex Tool Group announced the appointment of Ross Porter Jr. to its executive leadership team as senior vice president and president of its Global Power Tools business unit.

NetPlus Alliance meeting focused on proactive growth
NetPlus Alliance, a buying group with more than 385 industrial and contractor supplies distributor members, hosted its third annual meeting Oct. 2-4 in San Antonio, Texas.

Grainger 3Q sales up 3 percent
Grainger reported third-quarter sales of $2.6 billion increased 3 percent versus $2.5 billion in the third quarter of 2015.

AFFLINK names new board members
AFFLINK announced that Heike Milhench, president of New Bedford, Massachusetts-based Milhench Supply, and Tom Mekeel, owner of Sac Val Janitorial Supplies in Sacramento, California, agreed to serve on the organization’s advisory board.

Industrial production rises in September
Industrial production edged up 0.1 percent in September after falling 0.5 percent in August.

ISA Manufacturer and Distributor Indices show growth
The October ISA Economic Indicator Report (EIR) from the Industrial Supply Association showed that the Manufacturer Index and the Distributor Index moved in opposite directions in September.

PFERD names technical sales specialist
PFERD INC. announced the appointment of Tim Lee to the position of Technical Sales Specialist—Steel Works.

WESCO names new CFO
WESCO International announced the appointment of David S. Schulz as its senior vice president and chief financial officer.

Industrial Supply Company names new VP of finance
Industrial Supply Company announced that Michelle Lakin has been promoted to the position of vice president of finance for the company.

Walter names new director of marketing
Cutting tool manufacturer Walter announced the appointment of Kurt Ludeking as director of marketing for its World West Region.

Cutting tool consumption up 4.3 percent in August
August U.S. cutting tool consumption totaled $175.21 million according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology.

Stanley Black & Decker to acquire Newell Brands tools business
Stanley Black & Decker  announced that it has entered into a definitive agreement to acquire the tools business of Newell Brands, which includes the industrial cutting, hand tool and power tool accessory brands Irwin and Lenox, for $1.95 billion in cash.

Fastenal sales inch higher
Fastenal Company reported net sales of $1.01 billion for the third quarter, a 1.8 percent increase from $995.2 million in the same period last year.

Martin Supply names new vice president
Martin Supply announced that Will Brummett has joined the company as vice president of Martin Plant Services (MPS).

Cornwell Quality Tools acquires Kennedy Mfg.
Kennedy Manufacturing Company has been acquired by the Cornwell Quality Tools Company, a privately-owned company based out of Wadsworth, Ohio.

Winsupply adds two senior executives
Winsupply Inc. announced the hiring of Grady Collins as chief financial officer, and the promotion of Jeff Dice to vice president of shared services.

Tenaquip acquires Northern Industrial Sales
Tenaquip Limited, an industrial supplier headquartered in Montreal with distribution warehouses in Calgary and Vancouver, purchased the assets of Alberta-based Northern Industrial Sales.

August upturn in manufacturing technology orders
Manufacturing technology orders for August 2016 were up 15.9 percent compared to August 2015 and up 34.4 percent compared to July.

Reynolds and Son acquires Plimpton Tool
Reynolds and Son Inc., Vermont’s largest privately-owned industrial supply company, announced the acquisition of Plimpton Tool Company Inc., of Springfield, Vermont.

Newell Brands to sell majority of its tools business
Newell Brands Inc. announced that it intends to sell a majority of its tools segment following a strategic review of its business.

EIS acquires Communications Products and Services
EIS Inc., a wholly-owned subsidiary of Genuine Parts Company, has acquired Communications Products and Services (CPS), headquartered in Englewood, Colorado.

CMT Industrial Solutions acquires Gamco
Greenville, South Carolina-based CMT Industrial Solutions announced that it has acquired Gamco Services Inc., located in Gastonia, North Carolina.

Construction jobs up but factory employment down in Sept.

Contractors added 23,000 jobs in September after losing 5,000 jobs in August, while factory jobs fell by 13,000 during the month.

Liftex acquires Unitex Group USA
Liftex Corporation has acquired substantially all of the assets of Unitex Group USA LLC.

Motion Industries acquires Braas Company
Motion Industries has acquired Braas Company, a Minneapolis area automation and control distributor.

Houston Wire & Cable acquires Vertex
Houston Wire & Cable Company has purchased Vertex Corporate Holdings Inc. and its subsidiaries from DXP Enterprises.

Manufacturing expanded in September
Manufacturing expanded in September according to the monthly report from the Institute for Supply Management.

Monk Mining Supply becomes Phoenix Conveyor Belt Solutions
Monk Mining Supply Inc., a Tazewell, Virginia-based distributor of conveyor belt products, has become Phoenix Conveyor Belt Solutions Inc.

Singer Equities acquires Future Hydrauli
Singer Equities announced the acquisition of Future Hydraulik Inc., headquartered in Laval, Quebec, Canada.

Rockwell Automation acquires Maverick Technologies
Rockwell Automation has acquired systems integrator Maverick Technologies.

Haggard & Stocking acquires Imperial Fastener
Haggard & Stocking Associates has acquired Evansville, Indiana-based Imperial Fastener and Industrial Supply Co., a full line industrial supply company and distributor of fasteners and machine tools.