Distribution Industry News
3M to acquire MTI PolyFab
3M announced it has entered into a definitive agreement to acquire MTI PolyFab Inc., a manufacturer of thermal and acoustic insulation for the aerospace industry.
Manufacturing technology consumption rises
January U.S. manufacturing technology consumption totaled $130.96 million, up 26.2% from a year ago.
ProBuild opens Utah, Virginia locations
ProBuild Holdings Inc. is opening two new locations, one in Orem, Utah and one in Winchester, Va.
Fed Beige Book reports modest improvement
Nine out of 12 Federal Reserve Districts showed modest improvement in economic activity according to the latest Beige Book summary from the Fed.
Ironclad posts 9.3% sales gain
Ironclad Performance Wear Corporation reported net sales for the fourth quarter of $4.4 million, an increase of 9.3% percent from the fourth quarter 2008 of $4.05 million.
NAW and IBM to collaborate on Facing the Forces of Change
The NAW Institute for Distribution Excellence and IBM’s Institute for Business Value (IBV) have announced that the two organizations will collaborate to produce the next Facing the Forces of Change report.
Motion Industries completes BC Bearing acquisition
Motion Industries has completed the acquisition of the North American assets of BC Bearing (BC Bearing and US Bearings), effective March 1, 2010.
Emhart Teknologies acquires FIT
Shelton, Conn.-based Emhart Teknologies, a Black & Decker Company, announced the acquisition of Fastener Innovation Technology Inc. (FIT).
Construction spending dips in January
Construction spending during January 2010 was estimated at a seasonally adjusted annual rate of $884.1 billion, 0.6 percent below the revised December estimate of $889.6 billion.
Stock Building Supply to target acquisitions
Stock Building Supply Holdings added the former chairman and CEO of Building Materials Corp. to its board of directors to provide expertise on acquisitions.
Manufacturing expands at slower pace
The latest report from the Institute for Supply Management showed that manufacturing expanded for the seventh straight month in February.
Allied Motion posts loss for 2009
Allied Motion Technologies Inc. announced net income for the fourth quarter of $117,000, or 2 cents per diluted share, compared to $280,000, or 4 cents per share, for Q4 2008.
United Stationers acquires software company
United Stationers Supply Co. announced the acquisition of MBS Dev, a Colorado-based provider of software and services to business products resellers.
Grainger names top suppliers
Grainger recognized its 25 top performing suppliers with its Partners in Performance Award during the company’s annual supplier conference held in Schaumburg, Ill.
Johnson to speak at STAFDA
The Specialty Tools & Fasteners Distributors Association (STAFDA) announced that Max A. (Andy) Johnson, president of Mar-Mac Wire Inc., will be STAFDA’s Associate State-of-the-Industry speaker at its 34th Annual Convention & Trade Show.
BSA updates planned
Attendees at the Bearing Specialists Association (BSA) 2010 Annual Convention May 1-4 at the Naples Grande Beach Resort in Naples, Fla., will hear a timely pair of industry-specific updates from BSA and the American Bearing Manufacturers Association (ABMA).
Acme United's sales increase
Acme United Corporation announced that net sales for the fourth quarter were $13.4 million compared to $12.6 million in the same period in 2008, an increase of 7%.
MAPI report: Expect muted growth
A number of positive trends are emerging as the United States digs itself out of the “Great Recession,” but there remain cautionary signals that growth will be muted and the rebound restrained, according to a new report.
10th District manufacturing expands
The seven-state 10th Federal Reserve District manufacturing activity continued to strengthen in February.
KIT's sales fall 20%
Kaman Industrial Technologies said its sales decreased 20.0% in the 2009 fourth quarter to $149.8 million from $187.2 million a year ago.
Lawson Products reports 16.4% sales decline
Lawson Products said its net sales for the fourth quarter of 2009 were $89.3 million, a 16.4% decrease compared to $106.8 million for the prior year period, reflecting continued weakness in the economy.
Kaman to acquire Allied Bearings Supply
Kaman Industrial Technologies Corporation (KIT) has agreed to acquire Allied Bearings Supply Company of Tulsa, Okla.
Durable goods orders up in January
New orders for manufactured durable goods in January increased $5.2 billion or 3.0 percent to $175.7 billion, the U.S. Census Bureau announced today.
