December 2020 News

Weekly Pandemic Revenue Index up by 18.2 percent

Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index registered its sixth straight week of positive returns.

Home Depot completes HD Supply acquisition

The Home Depot has completed its approximately $8 billion acquisition of HD Supply Holdings Inc.

ISA to hold virtual 2021 convention

The Industrial Supply Association announced that its convention in 2021 will be virtual.

OTC acquires JCI Industries

Ohio Transmission Corporation announced the acquisition of JCI Industries, a provider of pumps, motors, controls, field service and remanufacturing to commercial, industrial and environmental customers throughout the Midwest.

NewAge Industries promotes two

Tubing manufacturer NewAge Industries has promoted Ken Liszewski and Tony Szoka to new positions.

Odyssey Investment acquires PIP

Odyssey Investment Partners announced a definitive agreement to acquire Protective Industrial Products Inc. from Audax Private Equity.

Kimball Midwest makes executive promotions

Kimball Midwest announced two executive appointments for the Columbus, Ohio-based company.

Enerpac Tool Group sales decline 18.6 percent

Enerpac Tool Group Corp. said its first quarter fiscal 2021 sales of $119 million compared to $146.7 million in the prior year first quarter, a decline of 18.6 percent.

Chicago Fed: Slower, slightly above-average growth in November

Led by slower growth in employment- and production-related indicators, the Chicago Fed National Activity Index declined to +0.27 in November from +1.01 in October.

Timken begins production at new plant in Mexico

The Timken Company announced the start of production at its new manufacturing facility in San Jose Iturbide, Mexico.

October cutting tool consumption up from September

October U.S. cutting tool consumption totaled $167.9 million, up 7.6 percent from September's $156.1 million but down 22.4 percent from $216.4 million in October 2019.

NAW to host Digital Summit

The National Association of Wholesaler-Distributors (NAW) announced its first-ever Digital Summit, an event focused on “Leading in a Time of Transition,” to be held Jan. 27–28, 2021.

ERB Industries acquired by French firm

ERB Industries has been acquired by Delta Plus Group headquartered in Apt, France, a global manufacturer of head-to-toe safety equipment for workers in construction and general industry.

Pandemic Revenue Index grows by 2.9 percent

Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Dec. 7-11 indicated a 2.9 percent increase compared with the same week a year ago.

PTDA positively adjusts 2021 outlook

The third quarter 2020 Sales History & Outlook Report (SHOR) released by the Power Transmission Distributors Association (PTDA) indicates the severity of the year-over-year decline in U.S. industrial production.

Würth Action Bolt and Tool joins Würth Construction Services

Würth Industry North America (WINA) announced that Würth Action Bolt and Tool, a distributor of construction and industrial fasteners with 36 years of history, will join its new construction services division, Würth Construction Services.

Breaux receives CEO of the Year award

Randy Breaux, president of Motion Industries, is a 2020 award recipient of CEO of the Year, from the Birmingham Business Journal.

Turtle & Hughes promotes two veteran staff

Turtle & Hughes has reorganized its corporate and distribution operations departments, promoting two veteran staff members to new positions.

Industrial production rose 0.4 percent in November

Industrial production increased 0.4 percent in November.

Manufacturing Technology Orders hit high mark in October

U.S. Manufacturing Technology Orders totaled $383.8 million in October 2020, an increase of 3.7 percent from September 2020, and the highest dollar value since December 2019.

Lakeland Industries sales soar

Protective clothing provider Lakeland Industries reported net sales for its fiscal 2021 third quarter of $41.5 million, up 50.9 percent compared with $27.5 million in the same period last year.

NAW makes senior leadership additions

The National Association of Wholesaler-Distributors (NAW) announced the additions of Dan Schuberth as Chief Business Development Officer and William Inman as Chief Public Affairs Officer for Communications and Advocacy to its senior leadership team.

Integrated supply provider Synovos sold to London-based company

Integrated supply chain management services provider Synovos, based in Radnor, Pennsylvania, has been sold for $145 million to Electrocomponents plc, a global solutions provider based in London.

Weekly Pandemic Revenue Index climbs by 12.1 percent

Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Nov. 30-Dec. 4, indicated a 12.1 percent increase compared with the same week a year ago.

Dorner appoints regional sales director

Matthew Kelley has been appointed as regional sales director for Dorner.

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HD Supply sales up 0.3 percent

HD Supply Holdings reported net sales of $827.5 million for the third quarter of fiscal 2020 increased 0.3 percent compared to $825.2 million in the third quarter of fiscal 2019.

Third-quarter productivity increased 4.6 percent 

Productivity increased 4.6 percent in the third quarter of 2020, the U.S. Bureau of Labor Statistics reported today, as output increased 43.4 percent and hours worked increased 37.1 percent.

PTDA adds three members

The Power Transmission Distributors Association welcomed three new member companies.

Manufactured goods orders up for sixth month in a row

New orders for manufactured goods increased 1.0 percent in October to $480.8 billion.

Allied Electronics & Automation doubles distribution capacity

Allied Electronics & Automation has completed an expansion of its North American distribution center in Fort Worth that adds more than 200,000 square feet of space.

Manufacturing and construction industries report jobs gains

Factories and construction sites continued adding jobs in November, as the nation's employment rose by 245,000 and the unemployment rate fell to 6.7 percent.

Fastenal November sales up 6.8 percent

Fastenal's sales of $441.0 million for the month of November represented a gain of 6.8 percent from $413.1 million in November 2019.

MSC to relocate Long Island Customer Support Center

MSC Industrial Supply announced plans to relocate its Long Island Customer Support Center to a smaller facility in Melville, New York.

AD names VP of Bearings and Power Transmission division

AD has named Darin Davenport as vice president of its Bearings and Power Transmission Division.

Grainger names interim CFO

Grainger announced that Robert O'Keef, vice president and treasurer, has been appointed interim CFO, effective Jan. 1, 2021.

Okray named Eaton CFO

Thomas B. Okray has been named executive vice president and chief financial officer for Eaton, effective April 1, 2021.

Belt Power acquires Rubber Service

Belt Power announced its acquisition of Rubber Service, a Denver area provider of lightweight belting solutions to customers in the Mountain West and Midwest.

Fenner Precision Polymers acquires MAV S.p.A.

Fenner Precision Polymers announced the acquisition of MAV S.p.A., a European supplier of keyless-locking devices (KLD), shrink discs, rigid couplings, and other metal products.

NewAge Industries expands warehouse capability

Plastic and silicone tubing manufacturer NewAge Industries expanded into a recently vacated warehouse at its headquarters in Bucks County, Pennsylvania.

Manufacturing growth slowed in November

Manufacturing grew in November, as the Institute for Supply Management Index registered 57.5 percent, 1.8 percentage points lower than the October reading of 59.3 percent.

October construction spending 1.3% higher than September

Construction spending during October was estimated at a seasonally adjusted annual rate of $1,438.5 billion, 1.3 percent above the revised September estimate of $1,420.4 billion.

Timken acquires Aurora Bearing Co.

The Timken Company has acquired the assets of Aurora Bearing Company, a manufacturer of rod ends and spherical plain bearings.