February 2021 News

Futey named Wright Tool president

Tom Futey has been named president of Wright Tool Company, becoming just the fourth person to serve in that role in the company’s nearly 100-year history.

GDP increased by 4.1% in 4Q

Real gross domestic product (GDP) increased at an annual rate of 4.1 percent in the fourth quarter of 2020, according to the "second" estimate released by the Bureau of Economic Analysis.

Lawson Products sales decline 5.2 percent

The acquisition of Partsmaster in the third quarter helped Lawson Products recover from losses experienced early in the year.

Systemax Inc. sales increase by 8.7 percent

Systemax Inc. reported sales of $1.0 billion in 2020, an 8.7 percent increase from $947 million in 2019.

Home Depot sales climb 19.9 percent

Sales for The Home Depot in fiscal 2020 were $132.1 billion, an increase of 19.9 percent from $110.2 billion in fiscal 2019.

Solve Industrial Motion names new CEO

Solve Industrial Motion Group has named Lisa Mitchell as its new chief executive officer.

American Piping Products names CEO and EVP of sales

American Piping Products announced two recent executive promotions.

Chicago Fed National Activity Index rises

Improvements in personal consumption-related indicators led an increase in the Chicago Fed National Activity Index to +0.66 in January from +0.41 in December.

Mid-single digit growth for Weekly Pandemic Revenue Index

Indian River Consulting Group’s weekly Pandemic Revenue Index for the work week of Feb. 8-12 indicated a 5 percent increase compared with the same week a year ago.

Industrial Magnetics acquires Walker Magnetics

Industrial Magnetics Inc. has acquired substantially all of the assets of Walker Magnetics Group Inc., North America’s oldest industrial magnet manufacturer.

SKF USA announces leadership additions

SKF announced the hiring and promotion of two key additions to the executive leadership team of SKF USA, its U.S. subsidiary.

January industrial production increased 0.9 percent

Industrial production increased 0.9 percent in January.

KKR to acquire Flow Control Group

Investment firm KKR has entered into an agreement to acquire Flow Control Group, a distributor of mission-critical flow control and industrial automation products, from Bertram Capital.

Motion sales declined 13.0 percent in 2020

Genuine Parts Company reported that sales for its Motion segment were $1.4 billion in the fourth quarter of 2020, a decline of 3.3 percent from 2019.

December cutting tool consumption improved over November

December 2020 U.S. cutting tool consumption totaled $157.3 million, up 4 percent from November's $151.3 million and down 16 percent compared with $187.2 million reported for December 2019.

Emerson makes leadership appointments

Emerson announced changes to its strategic leadership structure.

Regal to combine with Rexnord's PMC segment

Regal Beloit Corporation and Rexnord Corporation have reached a definitive agreement where Rexnord will separate its Process & Motion Control segment and combine it with Regal in a Reverse Morris Trust transaction.

AIP to acquire Ingersoll's High Pressure Solutions segment

American Industrial Partners has agreed to acquire a majority interest in the High Pressure Solutions Segment of Ingersoll Rand.

Motion makes seven management promotions

Motion announced seven recent promotions to key field management positions.

WESCO International sells Canadian datacom business

WESCO International announced that it has sold its legacy WESCO Datacom business in Canada to Guillevin International, a Canadian distributor of industrial products.

MRC Global ends difficult year with 24 percent Q4 sales decline

MRC Global reported sales of $579 million for the fourth quarter of 2020,1 percent lower than the third quarter of 2020 and 24 percent down from the fourth quarter of 2019.

DDI System releases Inform Version 22

DDI System announced the release of Inform ERP Software Version 22 with dozens of new features.

Kimball Midwest recognized for training

Columbus, Ohio-based Kimball Midwest moved up this year on Training magazine's list that recognizes companies with exceptional training programs.

Double-digit gain for Weekly Pandemic Revenue Index

After three weeks of single-digit growth, the weekly Pandemic Revenue Index jumped back into double-digit territory.

Auburn Bearing & Manufacturing acquires Aurotek TSB

Auburn Bearing & Manufacturing Inc. has acquired the assets of Aurotek TSB Inc., which specializes in the production of precision thin section bearings for a broad array of industries.

Industrial Supply Co. honors top suppliers

Industrial Supply Company announced the winners of its annual supplier awards presented at its annual Marketing Partner Summit.

Makita acquires Atlanta area property

Makita U.S.A. announced the purchase of 80 acres of land located in Hall County Georgia northeast of Atlanta for planned future development.

WESCO International 4Q sales climb 97 percent

WESCO International recorded net sales of $4.1 billion in the fourth quarter of 2020, up 97 percent from $2.1 billion in the same quarter last year, due to the Anixter merger.

Millard named to Women's Business Enterprise Hall of Fame

Jayne Millard, executive chairman of the board at Turtle & Hughes, will be inducted into the Women’s Business Enterprise Hall of Fame (WBWHF) for her dedication to women’s business growth and resilience.

LINC Systems founder retires

LINC Systems, a national distributor of industrial fastening, packaging, and supply solutions, announced that founder and CEO Ted Azar retired, effective Feb. 5.

Manufacturing technology orders increased in December

December orders of manufacturing technology totaled $456.7 million, nearly a 40 percent increase from November 2020 and a 17.6 percent increase over December 2019.

Wausau Supply opens three new DCs

Wausau Supply Co., a manufacturer and distributor of building materials, announced that the company is opening new distribution facilities in West Unity, Ohio; Murfreesboro, Tennessee; and Butte, Montana.

Galco Industrial Electronics names new CEO

Galco Industrial Electronics, an industrial electronic components distributor, has appointed Allison Sabia as chief executive officer, replacing Mike Conwell, who is retiring.

Motion & Control Enterprises acquires Swanson Flo

Motion & Control Enterprises has acquired Swanson Flo, a regional distributor of process instrumentation, flow control valves, actuators, and related equipment.

Factory and construction jobs fell during January

The nation's factories and construction sites both shed jobs in January after showing employment increases for eight consecutive months.

IWDC launches PIM

IWDC held a launch webinar on Feb. 1 attended by more than 80 member participants to explain its new Product Information Management (PIM) system.

Snap-on posts strong fourth quarter

A strong fourth quarter tempered the sales decline for 2020 at Snap-on.

Fastenal's January sales fall by 3.2 percent

Fastenal reported sales of $447.9 million in January, a 3.2 percent decline from $462.8 million in January of 2020.

Weekly Pandemic Revenue Index up by 6.4 percent

Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Jan. 25-29 indicated a 6.4 percent increase compared with the same week a year ago.

Würth Industry North America acquires Atlantic Fasteners Inc.

Würth Industry North America (WINA) has acquired Atlantic Fasteners Inc., a Greensboro, North Carolina-based distributor of standard and specialty fasteners.

Pam Nation joins DDS

DDS (Distributor Data Solutions) announced that electrical distribution and e-commerce veteran Pam Nation has joined its team as head of a new Customer Success initiative.

Grainger finishes challenging year with 2.7 percent sales gain

Despite the challenges caused by the pandemic, Grainger finished 2020 with sales of $11.8 billion, an increase of 2.7 percent from $11.5 million in 2019.

Purvis Industries acquires HydraGear

Purvis Industries announced that it has acquired HydraGear LLC of Las Vegas.

2020 BSA Excellence Awards announced

The Bearing Specialists Association recognized three companies at its annual Digital Supply Chain Forum.

Home Depot opens Dallas distribution center

The Home Depot has opened a new distribution center in Dallas to fulfill online orders and store orders.

Core & Main to acquire Triple T Pipe & Supply

Core & Main LP has entered into a definitive agreement to acquire substantially all of the assets of Triple T Pipe & Supply,  located in Lubbock, Texas.

Manufacturing grew at slower pace in January

The ISM Manufacturing Report on Business PMI registered 58.7 percent, 1.8 percentage points lower than the seasonally adjusted December reading of 60.5 percent.

Construction spending rose 1.0 percent in December

Construction spending during December 2020 was estimated at a seasonally adjusted annual rate of $1,490.4 billion, 1.0 percent above the revised November estimate of $1,475.6 billion.

AD 2020 sales decline 3 percent

AD said its total 2020 member sales were $45.1 billion, a 3 percent decrease from 2019.

RBC Bearings sales fall 17.6 percent

RBC Bearings reported net sales for the third quarter of fiscal 2021 were $145.9 million, a decrease of 17.6 percent from $177.0 million in the third quarter of fiscal 2020.

Ingersoll Rand acquires Tuthill Vacuum and Blower

Ingersoll Rand has completed the acquisition of Tuthill Vacuum and Blower Systems, a division of Tuthill Corporation.