August 2019 News

IDCO adds Moblico as service provider

IDCO Co-op welcomed Moblico, a provider of texting services, contextual hybrid mobile apps and geo targeted advertising, as its newest endorsed service supplier.

Regal Beloit to shut down Indiana bearings plant

According to a published report, Regal Beloit plans to close a bearings manufacturing plant in Valparaiso, Indiana.

Kaman completes sale of distribution segment

Kaman Corp. announced that it has completed the sale of its Distribution segment to affiliates of Littlejohn & Co. for total cash consideration of $700 million, excluding certain working capital adjustments.

Amazon to invest more than $15B in third-party sellers

Amazon announced that it plans to invest more than $15 billion in 2019 in infrastructure, tools, services, people, and programs to help third-party sellers.

Index points to slower economic growth

The Chicago Fed National Activity Index fell to –0.36 in July from +0.03 in June.

Kimball Midwest climbs higher on Selling Power list

Kimball Midwest, a national industrial supplier based in Columbus, Ohio, continues to climb on a prestigious annual list produced by Selling Power magazine.

Milwaukee Tool affiliate buys building for expansion

An affiliate of Milwaukee Electric Tool has purchased an office building in Menomonee Falls, Wisconsin, for future expansion.

Industrial Scientific names new GM

Industrial Scientific announced that Parker Burke has joined the company as senior vice president and general manager.

IWDC names new director of marketing

The IWDC announced that Erica Janas will be joining IWDC as director of marketing effective Aug. 26.

Home Depot sales up 1.2 percent

The Home Depot reported sales of $30.8 billion for the second quarter of fiscal 2019, a 1.2 percent increase from the second quarter of fiscal 2018.

NPS Corporation joins IBC

IBC announced that NPS Corporation of Green Bay, Wisconsin, has joined the IBC industrial buying group as a preferred supplier.

Digitizing the sales process research consortium

To assist leading distributors in transforming their social selling practices, the NAW Institute for Distribution Excellence is partnering with Texas A&M University on a new research consortium called, “Digitizing the Sales Process,” (DSP).

Superior Abrasives makes personnel moves

Superior Abrasives announced several new appointments in sales and service-related positions.

Genuine Parts Co. to sell EIS to Audax

Genuine Parts Company has entered into a definitive agreement to sell its wholly-owned subsidiary EIS Inc., the Electrical Specialties Group of Motion Industries, to Audax Private Equity.

Zep appoints new CEO

Zep Inc. has appointed Dan Smytka as chief executive officer, effective Sept. 3, 2019.

June cutting tool consumption down 6.3 percent

June 2019 U.S. cutting tool consumption totaled $198.9 million according to the United States Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology.

RBC Bearings acquires Swiss Tool Systems

RBC Bearings Incorporated announced the acquisition of Swiss Tool Systems AG for approximately CHF 33.0 million ($33.9 million), to be financed through cash on hand and debt.

2Q productivity increased 2.3 percent

Nonfarm business sector labor productivity increased 2.3 percent in the second quarter of 2019, the U.S. Bureau of Labor Statistics reported today, as output increased 1.9 percent and hours worked decreased 0.4 percent.

Applied 4Q sales decline but full year sales up by 13 percent

Applied Industrial Technologies reported net sales for its fiscal fourth quarter decreased 1.7 percent to $882.7 million from $897.7 million in the prior year.

Applied to acquire Olympus Controls

Applied Industrial Technologies has signed a definitive agreement to acquire Olympus Controls Corp., an automation solutions provider – including design, assembly, integration, and distribution – of motion control, machine vision, and robotic technologies.

Singer Equities to acquire Hydraulic Hose and Assemblies

Singer Equities announced an agreement to acquire Hydraulic Hose and Assemblies of Gorham, Maine.

Jason Industries explores sale of company

Jason Industries announced the sale of its Janesville Fiber Solutions segment and also indicated that it is exploring a potential sale of the entire company.

Manufacturing technology orders decline

U.S. manufacturing technology orders fell 7.7 percent from the previous month to a total of $357.8 million in June 2019.

Indian River adds Shisko as senior associate

Indian River Consulting Group, a consulting firm focused on the distribution and manufacturing industries, welcomed McKinnon Shisko as a senior associate.

ParkOhio sales decline 4 percent

Park-Ohio Holdings Corp. said its net sales of $415.3 million in the second quarter of 2019 decreased 4 percent from $432.2 million in the second quarter of 2018.

NOW Inc. 2Q revenue flat

NOW Inc. reported that its revenue of $776 million for the second quarter of 2019 compared to $777 million in the same period last year.

Graybar sales rise 6.3 percent

Graybar reported second quarter sales of $1.95 billion, a 6.3 percent increase compared to the same period last year.

Vallen to settle EEOC suit

Vallen Distribution will pay $75,000 to settle a disability discrimination lawsuit filed by the U.S. Equal Employment Oppor­tunity Commission (EEOC).

DXPE sales rise 7.1 percent

DXP Enterprises said its second quarter sales increased 7.1 percent to $333.3 million, compared to $311.2 million for the second quarter of 2018.

Haphazard tariffs are a bellwether for manufacturing sector slowdown

by John Wiborg, president and CEO, Stellar Industrial Supply

When geopolitical decisions, whether regulatory, tax, or immigration, appear to be made arbitrarily, it’s going to cause pullback by business leaders. The current climate of tariffs, uncertainty and risk is a wake-up call for a slowdown.

Fastenal sales rise 11.2 percent in July

Fastenal posted sales of $457.5 million in July, an 11.2 percent gain from $411.6 million in July 2018.

Emerson sales grow by 5 percent

Emerson reported third quarter sales of $4.7 billion increased 5 percent, or 2 percent on an underlying basis.

SC Fastening named preferred vendor for Soap Box Derby

SC Fastening Systems has signed a five-year agreement with The International Soap Box Derby to become the Derby’s very first preferred vendor.

Construction spending falls by 1.3 percent

Construction spending during June 2019 was estimated at a seasonally adjusted annual rate of $1,287.0 billion, 1.3 percent below the revised May estimate of $1,303.4 billion.

Manufactured goods orders increased in June

New orders for manufactured goods increased 0.6 percent in June to $493.8 billion, the U.S. Census Bureau reported today.

Small gains in manufacturing and construction employment

Manufacturing employment grew by 16,000 in July. Job gains in the industry had averaged 22,000 per month in 2018. Construction employment increased by 4,000 jobs.

Allied Motion revenue up 16 percent

Allied Motion Technologies reported that its second-quarter revenue of $92.6 million was up 16 percent, reflecting growth across all of the company’s served markets.

Manufacturing expanded at slower pace in July

Manufacturing expanded at a slower pace in July compared to the month of June.

AD member sales grow 15 percent

AD reported a 15 percent increase in member sales, across 12 AD divisions, totaling $23 billion through the first six months of 2019.

RBC Bearings net sales rise 3.8 percent

RBC Bearings reported net sales for the first quarter of fiscal 2020 were $182.7 million, an increase of 3.8 percent from $176.0 million in the first quarter of fiscal 2019.

Gardner Denver revenues fall 6 percent

Gardner Denver Holdings said its second quarter revenues of $629 million were down 6 percent compared to the prior year.

WESCO sales grow by 2.2 percent

WESCO International reported net sales were $2.2 billion for the second quarter of 2019, compared to $2.1 billion for the second quarter of 2018, an increase of 2.2 percent.