August 2024 News
DSG partners with American Supply Association
Distribution Strategy Group (DSG) announced its new strategic partnership with the American Supply Association (ASA), which is committed to helping the PHCP/PVF industry adapt and grow.
IRS: Employer education assistance programs can help pay for workers' student loans
The Internal Revenue Service issued a reminder that employers who offer educational assistance programs can also use them to help pay for their employees’ student loan obligations through Dec. 31, 2025.
Sonepar wins e-commerce award
Sonepar was named Enterprise B2B ecommerce distributor of the year in the inaugural Global Ecommerce Industry Awards from the B2B Ecommerce Association in partnership with Digital Commerce 360.
A&M Industrial celebrates 70th anniversary
Since first opening their doors in 1954, A&M Industrial has transformed from a modest hardware store in New Jersey into a leading industrial distributor, building a legacy upon founder Arnie Young’s core principle: Put people first, and success will follow.
What Fed Chair Powell’s address means for manufacturing
by Kristin Bartschi
Federal Reserve Chair Jerome Powell gave the most concrete signal yet that interest rate cuts are on the horizon at his Jackson Hole press conference August 23. For manufacturers and those in the industry closely watching the developments and anticipating IMTS 2024 – The International Manufacturing Technology Show, the outlook is promising.
Dorner appoints Midwest regional sales manager
Dorner has appointed Mark Schmid as regional sales manager, covering the Upper Midwest. He will be working with sales channel partners and key accounts to grow the company’s automation, industrial and sanitary conveyor business within his region.
Bellofram Elastomers adds flash cutting
Bellofram Elastomers has added custom flash cutting to the in-house services it offers to customers.
Motion to open repair shop in Houston
Motion Industries Inc. says it will open a new Motion Repair & Services facility in Houston in September.
Dorner appoints S.C-based regional sales director
Tim Patt has been selected as regional sales director for Dorner. He will lead a team of regional managers to grow the company’s automation, industrial and sanitary conveyor business.
Transporation drives latest durable goods increase
New orders for manufactured durable goods in July, up five of the last six months, increased $26.1 billion or 9.9% to $289.6 billion, the U.S. Census Bureau announced.
OTR managing director to retire
Sandro Pagliarulo, managing director of Canada and Europe Operations for OTR Engineered Solutions (OTR) , has announced his retirement from the company, effective October 10.
BSC Industries buys Warren Pike
BSC Industries, owned by a Chicago-based private equity firm, has acquired Warren Pike from Jim Gibney and J.G. Industries Inc.
Fox News: new Labor Department data shows almost 1 million fewer jobs created than prevously reported
On Wednesday, Fox News reported U.S. job growth during much of the past year was significantly weaker than previously believed, according to new data published Wednesday.
BlackHawk expands fottprint with Pennsylvania acquisition
BlackHawk Industrial has compeleted its acquisition of Tri-State Industrial Supplies of PA, based in New Britain, Pennsylvania (Tri-State). Financial terms of the transaction were not disclosed.
NAHAD webinar with Bader to bolster trust-building skills
NAHAD – The Association for Hose and Accessories Distribution, invites members to an upcoming webinar September 4, "Building Trust in the Workplace."
Omnicon achieves fifth consecutive CSIA certification
Omnicon, a global system integrator of industrial automation, smart manufacturing, consulting, and data management solutions, announced its successful recertification by the Control System Integrators Association (CSIA).
E-Z LOK receives ISO certification
E-Z LOK, a manufacturer and master distributor of threaded inserts for metal, plastic and wood, has received ISO 9001 certification.
Applied Industrial Technologies reports net sales up 1.5% YOY
Applied Industrial Technologies, a value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies, reported net sales for the fourth quarter increased 0.2% to $1.2 billion. The change includes a 1.5% increase from acquisitions and a positive 0.8% selling day impact, offset by a negative 0.1% impact from foreign currency translation.
BlackHawk appoints new leadership of fasteners division
BlackHawk Industrial, has promoted of Bob Miller to the role of general manager, fasteners as the company continues its aggressive expansion efforts.
Distribution Solutions Group closes Source Atlantic deal
Distribution Solutions Group Inc., a specialty distribution company, has closed on its previously announced agreement to acquire Source Atlantic Limited, which was funded by the company’s senior secured credit facility.
Motion to expand in Canada with acquisition
Motion Industries Inc., a distributor of maintenance, repair and operation replacement parts, and a provider of industrial technology solutions, signed a definitive purchase agreement to acquire the operating assets of Canadian-based LSI Supply Inc. and its sister company 273 Ontario (which trades as LSI).
Streamlight appoints sales manager for Europe
Streamlight Inc., a provider of high-performance lighting, announced today the appointment of Pedro Wolgemuth to international regional sales manager supporting the company’s European markets.
June cutting tool orders decline 2.8% from May
By Christopher Chidzik
Shipments of cutting tools were $208.1 million in June, measured by the Cutting Tool Market Report compiled in a collaboration between AMT – The Association For Manufacturing Technology and the U.S. Cutting Tool Institute (USCTI).
Holston Gases transitions to third-generation family leadership
Holston Gases, a regional distributor of industrial, medical, and propane gases as well as welding, safety, and industrial supplies, announced Joe Baxter will be named president on September 1.
Wynnchurch Capital acquires ORS Nasco
Wynnchurch Capital, L.P. has acquired ORS Nasco from One Equity Partners.
Core & Main to acquire GroGreen, completes purchase of HM Pipe
This week, Core & Main Inc. has entered into a definitive agreement to acquire GroGreen Solutions Georgia, LLC (GroGreen), a provider of erosion control products with four locations across the Southeastern U.S. The company has also closed its previously announced acquisition HM Pipe Products LP and HM Pipe Products Kitchener LP (collectively, HM Pipe Products). HM Pipe Products is a Canadian distributor of water and wastewater products with two locations, one in London, Ontario and one in Kitchener, Ontario.
Streamlight hires new sales leader in industrial/fire division
Streamlight Inc. has appointed Scott Kesler regional sales manager, industrial/fire division for the West Coast territory serving the states of Arizona, Nevada, California, Oregon, Washington, Alaska, and Hawaii.
Verusen named to Inc. 5000 List
Verusen, which specializes in driving AI-powered MRO, has been named to this year’s Inc. 5000, the annual list of the fastest-growing private companies in America.
June manufacturing tech orders grow 4.3%
By Christopher Chidzik
Orders of manufacturing technology, measured by the U.S. Manufacturing Technology Orders (USMTO) report published by AMT – The Association For Manufacturing Technology, totaled $402.3 million in June 2024. New orders of metalworking machinery were up 4.3% from May 2024 but down 1.6% from June 2023. Year-to-date orders reached $2.2 billion, down 10.7% compared to the first half of 2023.
Global Industrial appoints new senior vice president, CMO
Global Industrial Co. has named Lisa Goldson Armstrong as senior vice president and chief marketing officer, August 12.
Weiler Abrasives introduces program to reduce lead time, improve quality
Weiler Abrasives has launched its new Precision Express program that cuts lead times for gear grinding wheels from months to days.
Dematic awards 12 STEM scholarships
Dematic announced the winners of the 2024 Dematic FIRST Scholarship program, which recognizes students dedicated to pursuing careers in STEM (science, technology, engineering, and mathematics).
Viega collaborates with ASTM on installation standard
Viega announced the publication of ASTM B1029: Standard Practice for Press-Connect Joints with Seamless Copper and Copper Alloy Tube and Press Fittings. Viega took part in a rigorous consensus process to document best practices for creating press-connect joints.
Drop in demand takes Allient sales down 7%
Allient Inc. reported its second quarter revenue was $136.0 million with a gross margin of 29.9% and net income of $1.2 million.
Parker sales increase 2% in fourth fiscal quarter
Parker Hannifin Corp.reported results for the quarter and year ended June 30, 2024, that included the following highlights (compared with the prior year period):
Kennametal sales down 1% in fourth fiscal quarter
In its fourth quarter and fiscal 2024 reporting, Kennametal Inc. said its sales of $543 million decreased 1% from $550 million in the prior year quarter, reflecting an unfavorable currency exchange effect of 2% and an organic sales decline of 1%, partially offset by a favorable business days effect of 2%.
MRC Global sales climb 3% from Q1
MRC Global Inc. reported second quarter sales of $832 million, a 3% improvement compared to the first quarter of 2024.
Fastenal sales decline 10.5% in July
Fastenal reported its July net sales of $6.3 million were down 10.5% from July 2023.
Kennametal appoints new president, metal cutting segment
Kennametal Inc. has hired David Bersaglini as vice president of Kennametal Inc. and president of the Metal Cutting segment, effective August 26.
Walter acquires Midwest-based fixtures, tooling maker
Walter has acquired PDQ Workholding LLC (PDQ) in Columbia City, Indiana, which specializes in workholding fixtures and tooling for various industries, including automotive and general engineering.
Transportation drives 6.6% decline in June manufacturing orders
New orders for manufactured durable goods in June, down following four consecutive monthly increases, decreased $18.6 billion or 6.6% to $264.5 billion, the U.S. Census Bureau announced.
Singer Industrial aquires MEP Brothers
Singer Industrial has teamed up with MEP Brothers Inc., a leader in industrial and hydraulic hose, gaskets, and environmental spill response products. MEP Brothers is headquartered in Winnipeg, Manitoba, and will operate within the Industrial Rubber Division of Singer Industrial.
July employment trends up in July
The unemployment rate rose to 4.3% in July, and nonfarm payroll employment edged up by 114,000, below the average monthly gain of 215,000 over the prior 12 months, the U.S. Bureau of Labor Statistics reported.
RBC Bearings' aerospace/defense segment grows 23.7%
RBC Bearings Inc. reported first quarter 2025 net sales of $406.3 million, an increase of 5.0% over last year. Its Aerospace/Defense division was up 23.7% and Industrial was down 3.5%.
Dynabrade launches Autobrade robotic integration for surface conditioning
Dynabrade, a global manufacturer in the field of pneumatic hand tools and surface treatment solutions, announced the launch of Autobrade, a new subsidiary dedicated to leading the industry in robotic integration of automated surface conditioning solutions and innovative process improvements for industries worldwide.
Manufacturing contracts again in June
Economic activity in the manufacturing sector contracted in July for the fourth consecutive month and the 20th time in the last 21 months, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.
First six months' construction spending up 8.6%
Construction spending during June was estimated at a seasonally adjusted annual rate of $2,148.4 billion, 0.3% (±1.0%)* below the revised May estimate of $2,154.8 billion, according to the U.S. Census Bureau.
Grainger narrows 2024 earnings outlook
Grainger reported second quarter sales of $4.3 billion, up 3.1%, or 5.1% on a daily, organic constant currency basis. However, it narrowed most 2024 total company guidance ranges, including daily, organic constant currency sales growth of 4.0% to 6.0%.
Distribution Solutions Group posts 16.3% revenue spike
Distribution Solutions Group, Inc. reported its second quarter revenue increased $61.6 million – 16.3% – to $439.5 millions, including
Wesco net sales decline 4.6%
Wesco International, a provider of business-to-business distribution, logistics services, and supply chain solutions, announced its second quarter net sales were down 4.6% YOY. Gross margin of 21.9%, up 30 basis points YOY.
Ingersoll Rand grows Q2 revenues 7%
Ingersoll Rand Inc. reported record second quarter revenues of $1,805 million, up 7%. Adjusted net incomewas $341 million, and orders were up 4% at $1,799 million.
3M appoints new chief financial officer
3M has appointed Anurag Maheshwari as executive vice president and chief financial officer, effective September 1.
INDUSTRIAL SUPPLY MAGAZINE
The July/August issue of Industrial Supply magazine features an in-depth cover story about Singer Industrial. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and Rachael Radford, as well as interviews with numerous product and distribution industry experts.
