August 2022 News

IWDC promotes Missler

The IWDC announced the promotion of Tom Missler to creative services manager.

Industrial Supply Company makes two promotions

Industrial Supply Company has promoted Tyler Whipple and Damon Bohn to regional vice presidents of sales.

Brighton-Best providing safety gear to school crossing guards

Brighton-Best International (BBI) announced immediate availability of Hi-Visibility gloves to crossing guards across America.

Research says distributors must rethink how they lead

New research suggests that the nature of leadership has changed as a result of the pandemic and other disruptive forces.

Industry veteran Cloud passes away

Steve Cloud, chairman of Merriam, Kansas-based Cumulus Companies, parent corporation for IBT Industrial Solutions, passed away on Aug. 24. He was 73.

Metabo HPT and Metabo Power Tools to merge

Koki Holdings America Ltd. announced the merger of Metabo HPT and Metabo Power Tools in North America.

Holston Gases acquires Alpine Gas

Holston Gases completed the acquisition of Alpine Gas Company with operations headquartered in Carrolton, Georgia.

Optimas re-opens Quality Lab

Optimas Solutions announced the re-opening of its Quality Lab in Columbus, Indiana.

Winsupply plans grand opening of innovation center

Winsupply announced the grand opening of the Richard W. Schwartz Center for Innovation and reopening of Winsupply of Dayton.

Tencarva Machinery acquires Fischer Process Industries

Tencarva Machinery Company has acquired Fischer Process Industries, a distributor of pumps, valves and process equipment.

Jergens Inc. sells JIS subsidiary to PT Solutions

Jergens Inc., a manufacturer of standard tooling components, fasteners, hoist rings, vises and other work holding equipment, announced the sale of subsidiary JIS Distribution LLC to diversified holding company PT Solutions.

Optimas becomes AWESOME sponsor 

Optimas Solutions has joined the AWESOME A-List Alliance as an Accelerator Sponsor.

NEFCO acquires Newman Associates

NEFCO has completed the acquisition of Newman Associates headquartered in Canton, Massachusetts.

Rivet|MRO names project manager

Rivet|MRO announced that Sarah Byrne has joined its team as a project manager.

Chicago Fed: Economy grew in July

Led by improvements in production-related indicators, the Chicago Fed National Activity Index rose to +0.27 in July from –0.25 in June.

PT WORK Force offers assessment tool

Finding employees in today’s labor market isn’t getting any easier. With quit and retirement rates near all-time highs, demand for qualified employees is outpacing labor supply. Two added resources from the PTDA Foundation’s PT WORK Force initiative can equip employers with essential tools to attract and retain top talent.

LDR Growth Partners acquires Cincinnati Radiator and Ohio Heat Transfer

LDR Growth Partners has acquired Cincinnati Radiator Inc. and Ohio Heat Transfer Ltd.

3M's Ricciotti wins ISA Women's Influence Award

ISA has named Renee Ricciotti, National Safety & Industrial Channel Director at 3M, as the winner of the 2022 Women’s Influence Award.

A shift in strategy

The commonly held belief is that industrial companies lag behind their B2C counterparts in digital capabilities, despite their customers still having the same expectations.

Allied Motion names corporate VP and CTO

Allied Motion Technologies Inc. announced that Ken May has been named corporate vice president and chief technology officer (CTO).

June U.S. cutting tool consumption up by 2.2 percent

June 2022 U.S. cutting tool consumption totaled $175.9 million, up 0.3 percent from May’s $175.4 million and up 2.2 percent when compared with the $172.1 million reported for June 2021.

Distribution Solutions Group reports Q2 loss

Distributions Solutions Group reported net sales for the second quarter of $321.3 million, an increase of 139.5 percent from $134.1 million in last year's second quarter.

Applied's sales grew by 18.5 percent

Applied Industrial Technologies reported fourth-quarter 2022 net sales increased 18.5 percent to $1.1 billion from $895.9 million in the prior year.

Sandvik to acquire Sphinx Tools

Sandvik has agreed to acquire Switzerland-based Sphinx Tools Ltd and its wholly owned subsidiary P. Rieger Werkzeugfabrik AG.

Allied Electronics & Automation acquires Risoul

Allied Electronics & Automation, a trading brand of RS Group plc, has agreed to acquire Risoul, a family-owned distributor of industrial and automation product and service solutions in Mexico $275 million.

Timken makes executive appointments

The Timken Company announced new appointments for company executives Christopher Coughlin, Andreas Roellgen and Natasha Pollock.

MRC Global's sales grew by 24 percent

MRC Global reported sales of $848 million in the second quarter, a 24 percent improvement over $686 million in the same quarter a year ago.

EASA presents Exceptional Achievement Service Award

The Electrical Apparatus Service Association (EASA) honored David and Carol Griffin of CPM Engineering Ltd., in Manchester, England as the 2022 recipients of the EASA Exceptional Achievement Service Award.

Buckeye Industrial Supply celebrates 75 years

Buckeye Industrial Supply Company (BIS), a Columbus-based industrial products distributor with a branch location in Cincinnati, is celebrating 75 years in business.

Enerpac names new EVP of Operations

Enerpac Tool Group Corp. announced that Markus Limberger will join the company as EVP – Operations, effective Sept. 1.

Emerson's sales rise by 7 percent

Emerson said sales for its fiscal third quarter were $5.0 billion, up 7 percent from the previous year.

BlackHawk Industrial hires industry veteran Shimel

BlackHawk Industrial has named Scott Shimel general manager in Southern California.

PTDA welcomes MEM Industrial to association

The Power Transmission Distributors Association (PTDA) welcomed MEM Industrial of Wichita, Kansas, as a new member company.

Eukalin acquires Adhesives Specialists Inc.

Eukalin Corporation, a member of Eukalin Group and a manufacturer of adhesives for the paper and film converting industries, has acquired 100 percent of the assets of Adhesives Specialists, located in Allentown, Pennsylvania.

Tyrolit acquires Turkish abrasives supplier

The Tyrolit Group has acquired controlling interest in Egeli Egesan Group, an Instabul, Turkey-based supplier of cut-off and rough grinding wheels, grinding tools and sanding belts.

Weather postpones first Winsupply drone delivery

Winsupply had planned to make its first product delivery via drone today, but inclement weather has forced the inaugural flight to be postponed.

DXPE 2Q sales up 28.7 percent

DXP Enterprises reported sales of $367.8 million in the second quarter, a 28.7 percent increase compared to $285.7 million for the second quarter of 2021.

Manufacturing technology orders fell in June

New orders of manufacturing technology totaled $417.5 million in June 2022, down 5 percent from May 2022 and declined 16 percent from June 2021.

AD names VP of AD Network Community

AD has hired Kristen Abbas as vice president, AD Network Community.

Ingersoll Rand sales grew 12.6 percent

Ingersoll Rand Inc. reported revenue of $1.4 billion for the second quarter of 2022, a 12.6 percent increase from $1.3 billion in the same period last year.

Allied Motion 2Q sales up 21 percent

Allied Motion Technologies said its second-quarter 2022 revenue increased 21 percent to a record $122.7 million. That compares to revenue of $101.5 million in the same period last year.

WESCO posts 19.3 percent sales gain

Net sales of $5.5 billion for WESCO International in the second quarter of 2022 compared to $4.6 billion for the second quarter of 2021, an increase of 19.3 percent.

Dodge acquisition helps power 126.7% sales gain for RBC Bearings

The acquisition of the Dodge mechanical power transmission business helped fuel a 126.7 percent sales gain for RBC Bearings.

Fastenal posted 12.5 percent July sales gain

Fastenal's sales of $553.3 million in July increased by 12.5 percent from $491.7 million in July 2021.

Fire destroys Western Hose & Gasket facility

A three-alarm fire destroyed a Western Hose & Gasket facility in National City, California, near San Diego.

Global Industrial's sales rise 17 percent

Global Industrial reported sales of $318.5 million for its second quarter, a 17 percent gain from $272.6 million in the same period last year.

MSC acquires Tower Fasteners

MSC Industrial Supply has acquired Tower Fasteners, a Holtsville, New York-based valued-added distributor of Original Equipment Manufacturer (OEM) fasteners and components.

SBP Holdings acquires Mattson Distributing

SBP Holdings announced that it has joined forces with Mattson Distributing Company.

Dakota Supply acquires Brown Supply

Dakota Supply Group (DSG) announced the acquisition of Brown Supply Company in an asset purchase effective Aug. 2, 2022.

AD holds Finance, HR and IT Summit

AD members attended educational sessions and shared best practices with fellow finance, HR and IT leaders in independent distribution at the 2022 AD Finance, HR & IT Summit June 6 -8.

Winsupply to start drone delivery

Winsupply will begiin offering drone delivery service with its first-ever delivery planned for Aug. 9.

Designatronics acquires Grobet USA Manufacturing

Designatronics Inc. has acquired the manufacturing business segment of Grobet USA, located in Cheyenne, Wyoming.

Motion Names Solomon SVP Corporate Accounts

Motion Industries announced that Lisa Solomon has been promoted to senior vice president – corporate accounts.

AD member sales up 29 percent

AD reported that total member sales in the first six months of 2022 were $36.1 billion, an increase of 29 percent across its 13 divisions and three countries.

Manufacturing index dips in July

The Institute for Supply Management's manufacturing Index registered 52.8 percent in July, down 0.2 percentage point from the reading of 53 percent in June.

June construction spending 8.3% higher YOY

Construction spending during June 2022 was estimated at a seasonally adjusted annual rate of $1,762.3 billion, 1.1 percent below the revised May estimate of $1,781.9 billion.