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Distribution Industry News

Q4-23 manufacturing profits slip

The U.S. Census Bureau announced the following seasonally adjusted quarterly after-tax profits for manufacturing industries statistics for fourth quarter of 2023:

Jon-Don expands resinous coatings selection with PPG FLOORING

Jon-Don, a supplier of commercial supplies, equipment, consumables, and know-how to specialty contractors, announced that it has partnered with PPG to expand its offering of resinous floor coatings for concrete flooring.

Dallas Industries appoints Metwork Tools as new Mexico dealer

Dallas Industries, a manufacturer of coil handling, press feeding equipment and controls for the stamping industry has announced the appointment of Metwork Tools as its new dealer in Mexico, handling sales and service of Dallas equipment throughout the country.

EDC names new Midwest manufacturers rep 

Electronic Drives and Controls Inc. (EDC), a leading control system integrator and field service company for industrial automation and drive technology, today announced the appointment of Dean Grosel as the new regional representative for the Midwest region, covering Indiana, Kentucky, Ohio, and Michigan.

3M and HD Hyundai KSOE to collaborate on liquid hydrogen storage tanks

3M and HD Hyundai Korea Shipbuilding & Marine Engineering (KSOE) have signed a joint research project agreement to develop large liquid hydrogen storage tanks using Glass Bubbles from 3M – a high-strength, low-density hollow glass microsphere. The collaborative research will focus on developing a high-performance vacuum insulation system for liquified hydrogen storage and transportation.

Sphere 1 appoints new president

Sphere 1 Inc. announced the appointment of Mike Shumard as president of Sphere 1 effective on May 1. Shumard has been with Sphere 1 as executive vice president since July 2016 as a part of the succession plan of longtime CEO Rob Moe. Shumard will assume the CEO position at the end of 2026.

February industrial production edges up

Industrial production edged up 0.1% in February after declining 0.5% in January, the Federal Reserve reported.

Kennametal appoints new president & CEO 

Kennametal Inc. announced that Sanjay Chowbey, currently vice president at the company and president, metal cutting segment, will succeed Christopher Rossi as president & CEO.

Gregg Futey joins Wright as assistant vice president

Wright announced Gregg Futey as its new assistant vice president. In his role, Futey will be a member of the leadership team and have a role in business development, financial administration, and marketing.

January cutting tool orders rise 9.1%

By Christopher Chidzik

January 2024 U.S. cutting tool consumption totaled $204.5 million, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report collaboration, was up 9.1% from December’s $187.5 million and up 4.1% when compared with the $196.5 million reported for January 2023.

Streamlight promotes three 

Streamlight Inc., a provider of high-performance lighting, announced the promotions of Eric Pike to director of e-commerce and digital shelf architecture, Kevin Burger to director of automotive and hardware, and Geoff Evans to sales director, Canada.

January manufacturing tech orders down 31% 

Orders of manufacturing technology, measured by the U.S. Manufacturing Technology Orders Report published by AMT – The Association For Manufacturing Technology, totaled $338 million in January 2024, a 31% decline from December and a 3.7% decline from January 2023.

Sonepar reports 2023 sales of €33.3 billion 

Sonepar, a global B-to-B distributor of electrical equipment, solutions, and services, has reported sales of €33.3 billion for the year ended December 31, 2023.

3M names new CEO as Roman moves to executive chairman 

3M announced that William M. "Bill" Brown has been appointed as chief executive officer. He succeeds Michael Roman, who is appointed to the role of executive chairman of the 3M board of directors. Both changes are effective May 1.

"Bill's strong track record as a CEO for a global technology company makes him the right leader for 3M," said Roman. "He brings a wealth of experience in strategic leadership, innovation, and operational excellence to 3M. I look forward to working with him to build on our momentum in my new role as executive chairman."

"I am excited for the opportunity to lead this iconic global company," said Brown. "The company has made significant positive changes under Mike's leadership, and I am looking forward to building on that progress as CEO as 3M continues to deliver for its customers, shareholders, employees, and communities around the globe."

Brown, 61, is the former chairman of the board and chief executive officer of L3Harris Technologies, a global innovator in aerospace and defense technology solutions, where he served as chief executive officer and chairman, and then executive chair from June 2019 to June 2022. Brown previously served as chairman, president, and chief executive officer of Harris Corp. prior to its merger with L3 Technologies in 2019. He joined Harris Corp. in November 2011 as president and chief executive officer. Prior to that, Brown spent 14 years at United Technologies Corp. (UTC) serving in a variety of leadership roles.

Brown holds bachelor's and master's degrees in mechanical engineering from Villanova University, as well as an MBA from The Wharton School, University of Pennsylvania. He is the former chair of the Aerospace Industries Association (AIA) Board of Governors and formerly a member of AIA's Executive Committee.

Roman, with 35 years in the company, will continue to chair 3M's board of directors and provide insights for its strategic direction. He has served as 3M's CEO since July 2018.

3M also announced that the board of directors waived the mandatory retirement age of 65 years for Roman and Brown.

EDC names new regional rep 

Electronic Drives and Controls, Inc. (EDC), a control system integrator and field service company for industrial automation and drive technology, today announced the appointment of Dean Grosel as the new regional representative for the Midwest region, covering Indiana, Kentucky, Ohio, and Michigan.

Sandvik Coromant appoints president of Americas region

Sandvik Coromant has appointed Veronica Messersmith as president of the Americas, effective March 11.

Emerson to provide integrated hydrogen mobility technologies to H2 Hauler

H2 Hauler, an Australian-based company that designs, manufactures, and certifies storage and distribution equipment for compressed hydrogen, has selected global technology and software leader Emerson as its technology partner to provide a consolidated and integrated hydrogen mobility business management system.

PTDA Foundation raises 49% of goal in three months

The PTDA Foundation is off to a strong fundraising start in 2024, raising nearly $147,000 during the first three months of its 2024 Fund Drive campaign. Contributions support the PTDA Foundation in empowering PT/MC (power transmission/motion control) industry employers to be more successful in their recruitment and retention efforts.

ARG Industrial opens Idaho branch

ARG Industrial, a solutions-focused organization specializing in the distribution of hose, fittings, and rigging products, announced the opening of its newest location in Hayden, Idaho.

February employment rises 4%

Total nonfarm payroll employment rose by 275,000 in February, and the unemployment rateincreased to 3.9%, the U.S. Bureau of Labor Statistics reported. Job gains occurred in health care, in government, in food services and drinking places, in social assistance, and in transportation and warehousing.

Vallen launches 'Women in PPE' campaign

Vallen Distribution is recognizing International Women’s Day with the launch of a catalog of Personal Protective Equipment (PPE) and safety products geared for women.

NIBCO appoints vice president, sales and marketing

NIBCO Inc. announced the promotion of Joe Choflet to vice president, sales and marketing.

DSG: '23 a 'very successful year'

In announcing its financial results for 2023 and fourth quarter ended December 31, 2023, Distribution Solutions Group Inc. (DSG) reported its full-year revenue was $1.57 billion, an increase of $419.0 million or 36.4% compared to 2022.

February sales up 7.7% for Fastenal 

Fastenal reported February net sales of $627 million, a 7.7% increase over the same time last year. Daily sales were reported at $29.9 million.

Allient reports 34% operating income growth 

Allient Inc. reported its Q4 '23 revenue increased 15% to a record $578.6 million with organic growth of 13% on a constant currency basis. The financial results include the Sierramotion Inc. acquisition, which was completed in September 2023.

Fastenal receives EcoVadis Silver Medal for sustainability

Fastenal Co. has been awarded a silver medal from EcoVadis. The award, which is based on an assessment completed by EcoVadis in late 2023, signifies that the quality of Fastenal's sustainability management system ranks in the top 25% of all companies in all industries rated by EcoVadis.

Kimball Midwest recognized as training leader

Kimball Midwest, a national industrial supplier based in Columbus, again has been recognized for excellence in its training and development programs by a leading publication.
"Training" magazine ranked Kimball Midwest among the 105 winners of its 2024 Training APEX Awards, which were handed out the last week of February during a gala in Orlando.

AFFLINK welcomes Versa Pak as a preferred supplier

Versa Pak, a producer of plastic packaging solutions for various industry sectors, has just become a Preferred Supplier for AFFLINK, a global provider in supply chain distribution and optimization.

Manufactured goods orders drop 3.6%

January's new orders for manufactured goods, down three of the last four months, decreased $21.5 billion or 3.6% to $569.7 billion, the U.S. Census Bureau reported.

Kennametal partners with ModuleWorks for intelligent manufacturing solutions

Kennametal Inc. has joined ModuleWorks' Strategic Partner Program, a collective commitment to driving intelligent and integrated digital manufacturing solutions. Kennametal joins a variety of industry leaders in this program, such as Mitsubishi Electric, AutoDesk, PTC and DMG Mori, among others.

Diversified Fall Protection names new CEO

Diversified Fall Protection (DFP), the largest turnkey fall protection integrator in the U.S. for regulatory-driven systems and services, has appointed Travis Nelson, PE, CSP, as the company’s new CEO.

Bedford Reinforced Plastics celebrates 50 years of business success

Bedford Reinforced Plastics — a full-service supplier offering an extensive line of — is celebrating 50 years of business success.

Accuris partners with AWS for Engineering Workbench access

Accuris, a leader in engineering workflow solutions, today announced an exclusive partnership with the American Welding Society to offer their members access to Engineering Workbench, a SaaS platform for integrating engineering standards and other technical publications into engineering workflows.

Airline Hydraulics expands distribution with Phoenix Contact 

Airline Hydraulics Corp. has significantly expanded its sales and service territory as an Automation Elite Distributor of Phoenix Contact products. The newly broadened reach now includes Western Pennsylvania and West Virginia, fortifying Airline's presence in the North and Southeastern U.S., from Maine to Georgia.

SME, AMT host Smart Manufacturing Experience 2024 

The Smart Manufacturing Experience is coming to the David L. Lawrence Convention Center in Pittsburgh June 4-5, 2024. It is hosted by SME, a nonprofit dedicated to the advancement of manufacturing technology and fostering manufacturing and engineering talent, and capabilities in North America, and AMT – The Association For Manufacturing Technology.

Suncor Stainless names Northeast account manager

Suncor Stainless Inc., a manufacturer for stainless steel hardware in the industrial, marine, government, architectural, OEM and commercial industries, announced the addition of its newest team member: Michelle Newton steps into the role of Northeast region account manager.

Manufacturing contraction trend hits 16 months

Economic activity in the manufacturing sector contracted in February for the 16th consecutive month following one month of “unchanged” status (a PMI reading of 50%) and 28 months of growth prior to that, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.

January construction spending jumps 11.7% YOY

Construction spending during January 2024 was estimated at a seasonally adjusted annual rate of $2,102.4 billion, 0.2% (±0.8%)* below the revised December estimate of $2,105.8 billion. The January figure is 11.7% (±1.5%) above the January 2023 estimate of $1,882.2 billion.

Hy-Brid Lifts appoints new president and CEO

Hy-Brid Lifts by Custom Equipment LLC appointed Eric Liner as its new president and CEO, effective February 5. He succeeds Jay Sugar, who successfully led the company for the past three years and is retiring March 1.

Global Industrial reports sales up, margin down in Q3 '23

Global Industrial Company reported its fourth quarter consolidated sales increased 22.9% to $320.1 million compared to $260.5 million last year. Excluding Indoff, acquired on May 19, 2023, sales increased 5.1% as compared to the year ago period and 5.2% on an average daily sales basis.

Moblico, HawkSearch roll out AI-driven mobile product search for distributors

Bridgeline Digital, Inc., a provider of marketing software, announced its partnership with Moblico, a leader in mobile engagement solutions for wholesale distributors, providing mobile messaging and custom branded mobile apps.

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