September 2012 News
DXPE and Circo reach settlement
DXP Enterprises and Circo Enterprises announced an "amicable settlement" to 2011 lawsuits related to DXPE's acquisition of Precision Industries.
Actuant Corporation posts loss
Actuant Corporation posted a loss of $16.5 million in its fiscal fourth quarter after taking an impairment charge of $62.5 million related to its acquisition of Mastervolt.
H.B. Fuller revenues up 37.9%
H.B. Fuller Company reported net revenue for the third quarter of 2012 was $500.5 million, up 37.9 percent versus the $363 million in the third quarter of 2011.
DGI Supply acquires Anich Industries
DGI Supply, a DoALL Company, announced its intent to acquire Anich Industries Inc. of Ocala, Fla.
Neri retires from Lawson Products
Lawson Products Inc. announced that Thomas J. Neri has retired as president and chief executive officer and appointed Michael G. DeCata to those positions.
Chicago Fed National Activity Index falls
Led by declines in production-related indicators, the Chicago Fed National Activity Index (CFNAI) decreased to –0.87 in August from –0.12 in July.
Hose Safety Institute Hose Handbook Ready for Review
Following two years of effort by NAHAD member volunteers and industry experts, the Hose Safety Institute’s final draft version of the Hose Handbook for the Design & Specification of Safe Hose Assemblies is ready for public review and comment, prior to final publication.
Bunting Magnetics acquires E-Magnets UK
Bunting Magnetics Europe Limited announced the acquisition of E-Magnets UK Limited, located in Sheffield, England.
Industrial Careers Pathway job board options added
The Industrial Careers Pathway has added an option to boost participation among distributors in its service.
Securities firm investigates Applied Industrial Technologies
A New York-based national securities firm is investigating the board of directors of Applied Industrial Technologies.
Industrial production falls
Industrial production fell 1.2 percent in August after having risen 0.5 percent in July.
Metalforming companies express optimism
Metalforming companies expect a slight uptick in business conditions during the next three months.
MAPI survey predicts modest growth
The latest Manufacturers Alliance for Productivity and Innovation (MAPI) report forecasts that industrial production will increase 4.5 percent in 2012.
Grainger August sales up 10%
Grainger said its sales results for the month of August increased 10 percent compared to the same month last year.
Manufacturers and distributors are optimistic
Middle market manufacturers and distributors are adjusting to the "new normal" of the post-recession era by focusing on efficiencies, operational improvements and innovation.
Manufacturing renaissance?
A new report identifies seven factors that could drive a manufacturing renaissance in the U.S.
BDI opens Fresno branch
Bearing Distributors Inc., headquartered in Cleveland, announced the opening of a new branch in Fresno, Calif.
Manufacturing technology orders fall
July U.S. manufacturing technology orders decreased 2.3% from June to $449.69 million.
Singer Equities buys Industrial and Marine Equip. Co.
Singer Equities has acquired Industrial and Marine Equipment Co., Inc. with headquarters in New Orleans.
Werner buys Knaack
Emerson announced it has sold Knaack L.L.C., its jobsite, truck and van storage business, to Werner Co. for $115 million.
Brady reports loss
Brady Corporation reported that sales for the fiscal 2012 fourth quarter were down 6.0 percent to $322.5 million compared to $343.1 million in the fourth quarter of fiscal 2011.
Factory jobs fall in August
Manufacturing employment fell in August, as the industry dropped 15,000 jobs, according to the latest jobs report from the U.S. Dept. of Labor.
Apache Hose and Belting adopts new strategy
Apache Hose & Belting Co. announced that it is adotping a new business strategy that will focus exclusively on distributors and OEMs.
Triad Technologies acquires Pennington Rubber
Triad Technologies, a distributor of fluid power and automation products, has acquired the Pennington Rubber Company and its in-house affiliate OEM Hose and Services Inc.
Pferd names new technical manager
Pferd Inc. announced that Sam Lombardo has been appointed to the newly created position of national technical manager for all PFERD U.S. operations.
MAPI anticipates slow growth
Deceleration in the U.S. manufacturing recovery in the second quarter of 2012 is a harbinger that slow economic growth looms, according to a new report.
Productivity increased in Q2
Nonfarm business sector labor productivity increased at a 2.2 percent annual rate during the second quarter of 2012, the U.S. Bureau of Labor Statistics reported today.
HD Supply sales up 9.8%
HD Supply Inc. reported net sales for the fiscal 2012 second quarter of $2.1 billion, an increase of 9.8 percent compared to the second quarter of fiscal 2011.
ISM: Manufacturing contracted in August
Economic activity in the manufacturing sector contracted in August for the third time since July 2009 according to the Institute for Supply Management.
McGill Hose acquires RNB-Richardson
McGill Hose & Coupling Inc. of East Longmeadow, Mass., announced the acquisition of RNB-Richardson Inc., located in East Providence, R.I.
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.
