August 2020 News

MSC names new CFO
MSC Industrial Supply has named Kristen Actis-Grande executive vice president and chief financial officer.

Bosch Rexroth management changes highlighted
Paul Cooke, president and CEO of Bosch Rexroth North America, based in Charlotte, North Carolina, will retire on Dec. 31 after 38 years with the company.

AD announces Electrical-U.S. Division leadership changes
AD has named David Kinsella as president of its Electrical–U.S. Division with the unanimous backing of the Electrical-U.S. board.

Pandemic Revenue Index stays positive for two weeks in a row
The weekly Pandemic Revenue Index has remained in positive territory for two weeks in a row.

Kaman Distribution names VP of supply chain
Kaman Distribution Group continues to build out its executive team, appointing Robert Boyle as the vice president of supply chain for the Kaman Industrial Technologies business unit.

Court approves Jason Industries reorganization plan
The United States Bankruptcy Court for the Southern District of New York has confirmed the reorganization plan for Jason Industries.

Registration opens for PTDA's virtual summit
Registration is now open for the PTDA Virtual Industry Summit to be held Oct. 21-23.

Kaman Distribution names two area vice presidents
Kaman Distribution Group has named two area vice presidents for its Kaman Industrial Technologies business unit.

Chicago Fed National Activity Index shows above average July growth
Despite declining in July compared to June, the Chicago Fed National Activity Index showed well above average growth for the month.

Pandemic Revenue Index improves slightly
Indian River Consulting Group’s weekly Pandemic Revenue Index for the work week of Aug. 9-14 indicated a 0.5 percent increase compared with the same week a year ago.

Makita U.S.A. opening new Reno DC and training center
Makita U.S.A. is nearing completion on a new 600,000 sq. ft. distribution and training facility in Reno, Nevada.

Allied Electronics & Automation expands product offering
Allied Electronics & Automation has added more than 10,000 new product lines, $3.5 million in inventory and 30 new suppliers to date in 2020.

Schaedler Yesco acquires Rexel USA locations
Schaedler Yesco Distribution has acquired two Rexel USA locations in Pennsylvania and New York.

Van Meter named 'most loved' company in Iowa
Van Meter was recognized as the most-loved company in the state of Iowa by, joining global and national brands such as McDonald's and Coca-Cola that were recognized in other states.

Fastenal scores deal with NHL
It's a shot and a goal for Fastenal, which signed a multiyear deal with the National Hockey League.

Kaman Distribution names VP of corporate accounts
Kaman Distribution Group has appointed Kevin Glorio as the vice president of corporate accounts for the Kaman Industrial Technologies business unit.

Diversified Product Development to build new headquarters
Diversified Product Development, marketer of the LineWise, LiftWise and DesignWise brands, has broken ground on a new headquarters and production facility in Waco, Texas.

AD's Blue to retire
AD senior vice president of Business Development Tom Blue plans to retire effective Sept. 30, 2020.

Industrial production rose 3.0 percent in July
Total industrial production rose 3.0 percent in July after increasing 5.7 percent in June; even so, the index in July was 8.4 percent below its pre-pandemic February level.

Productivity increased 7.3 percent in 2Q
Productivity increased 7.3 percent in the second quarter of 2020, as output decreased 38.9 percent and hours worked decreased 43.0 percent.

Pandemic Revenue Index shows 0.8 percent decline
Indian River Consulting Group’s weekly Pandemic Revenue Index for the work week of Aug. 3-7 indicated a 0.8 percent decrease compared with the same week a year ago.

WESCO International sales decline 2.9 percent
WESCO International's net sales were $2.1 billion for the second quarter of 2020, compared to $2.2 billion for the second quarter of 2019, a decrease of 2.9 percent.

June cutting tool consumption improved from May
June 2020 U.S. cutting tool consumption totaled $150.6 million, up 10.1 percent from May's $136.8 million.

C.H. Hanson acquires Superior Tool
Hand tool manufacturer C.H. Hanson has acquired Cleveland–based Superior Tool, a manufacturer of plumbing tools founded in the 1940s.

MSC's July sales fall 12.6 percent
MSC Industrial Supply said its net sales for July were $233.3 million, a decrease of 12.6 percent compared to $267 million in July last year.

Applied Industrial Technologies sales fall 17.9 percent
Applied Industrial Technologies experienced a sales decline of 17.9 percent in its fiscal 2020 fourth quarter, as sales fell to $725.1 million from $882.7 million in the prior year.

CD&R to combine HD Supply's White Cap business with Construction Supply Group
Clayton, Dubilier & Rice announced an agreement with HD Supply Holdings Inc. under which CD&R funds will lead an investment to acquire HD Supply's Construction & Industrial - White Cap business, and combine it with the Construction Supply Group.

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Mallory Safety acquires Wise Safety
Mallory Safety and Supply has acquired Wise Safety & Environmental, a St. Louis-based distributor of safety supplies and abatement products and services.

Sphere 1 names new board
Sphere 1 appointed three new members to its board of directors, and three newly elected executive board members, effective June 1, 2020.

Manufacturing technology orders rebounded in June
U.S. manufacturing technology orders soared to $346.7 million in June, a 56 percent increase over May 2020.

Pandemic Revenue Index shows gain for final week in July
For the second time in July, the weekly Pandemic Revenue Index showed slight growth.

Parker Hannifin sales decline 14.1 percent
Parker Hannifin Corporation said yesterday its fiscal 2020 fourth quarter sales were $3.16 billion, a 14.1 percent decline from $3.68 billion in the prior year quarter.

NOW Inc. sales fall 52.3 percent
NOW Inc. continues to feel the effects of the COVID-19 pandemic and the struggling oil and gas industry, as revenues declined 52.3 percent in the second quarter to $370 million.

Manufacturing and construction make small jobs gains in July
The manufacturing and construction industries continued to add jobs in July, but at a slower pace than the previous two months.

DXP Enterprises sales fall 24.6 percent
DXP Enterprises reported that its second-quarter sales declined 24.6 percent to $251.4 million, compared to $333.3 million for the second quarter of 2019.

Allied Motion's sales down 6 percent
Allied Motion Technologies reported revenue of $86.7 million for the second quarter was down 6 percent.

Safety product sales boost Fastenal's July results
Sales of safety products continue to bolster results at Fastenal, as the company reported a 2.6 percent sales gain in July compared to last year.

Gyori named CEO of Pelican Products
Pelican Products announced the appointment of Phil Gyori as the company’s president and chief executive officer.

ShurTech Brands becomes Shurtape Technologies
ShurTech Brands, recognized for consumer brands such as Duck brand duct tape and FrogTape brand painter’s tape, is changing its name to Shurtape Technologies LLC.

BlueLinx Holdings sales relatively flat
BlueLinx Holdings reported net sales of $699 million for the second quarter of 2020, a 1 percent decline compared to $706 million for the prior year period.

OneSource Distributors moves distribution center
OneSource Distributors has moved its Orange County-based central distribution center to a larger facility in Fullerton, California.

Lawson Products sales fall 24.9 percent
Lawson Products reported second-quarter sales of $72.1 million, a nearly 25 percent decline from $96.1 million in the same period last year.

Manufacturing notches third consecutive month of growth
Economic activity in the manufacturing sector grew in July, with the overall economy notching a third consecutive month of growth.

Ingersoll Rand revenues soar post-acquisition
Ingersoll Rand reported second-quarter revenues of $1.3 billion up 101 percent versus prior year as reported revenues due primarily to the acquisition by Gardner Denver.

Emerson reports 16 percent sales decline
Emerson's third-quarter sales of $3.9 billion were down 16 percent from $4.7 billion in the same period last year.

Motion Industries makes two acquisitions
Motion Industries has acquired TRC Hydraulics, a Canadian-based supplier of hydraulic products and services, and F&L Industrial Solutions Inc., a distributor of T-slotted aluminum extrusion components.

Construction spending declined 0.7 percent
Construction spending during June 2020 was estimated at a seasonally adjusted annual rate of $1,355.2 billion, 0.7 percent below the revised May estimate of $1,364.7 billion.

MRC Global posts 39 percent sales decline
MRC Global said its sales were $602 million for the second quarter of 2020, 39 percent lower than the second quarter of 2019.