February 2023 News

Mallory expands in Los Angeles with acquisition
Mallory, a large, full-service independent safety and industrial supply distributor has acquired JG Tucker and Sons, a fourth-generation, well-established provider of safety products in the Los Angeles area. Mallory says the purchase widens its ability to reach and serve existing customers in the region more effectively.

Lawless Group Rockies adds three to regional team
The Lawless Group Rockies (LGR) has expanded their regional team with former Aspen Marketing veterans.

Protective Industrial Products, Inc. appoints new CIO
Protective Industrial Products Inc. (PIP) a global supplier of hand protection and PPE, has appointed Mark Mazurkiewicz as its new chief information officer.

January durable goods orders decrease 4.5%
New orders for manufactured durable goods in January, down two of the last three months, decreased $13.0 billion or 4.5 percent to $272.3 billion, the U.S. Census Bureau announced February 27. This followed a 5.1 percent December increase.

Airline Hydraulics expands Phoenix Contact territory 
Airline Hydraulics Corp., a distributor of Phoenix Contact products, has expanded its authorized sales territory to include Western New York and New England.

New president at Ideal Clamp Products 
Ideal Tridon Group CEO Rick Stepien named Corey Waddoups as the new president of Ideal Clamp Products – North America.

Hospeco buys Canadian Innocore
U.S-based Hospeco Brands Group (HBG), a full-line manufacturer of cleaning and protection products for industrial supply markets, has purchased Innocore in Ontario, maker of Touch Point and Certainty brands premoistened, non-woven, surface and personal wipes, and other hand care products. Effective immediately, the merger complements HBG’s already-robust wipes offering and expands the company’s North American footprint in the wipes market. 

Index suggests economic growth picked up in January
Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) rose to +0.23 in January from –0.46 in December. Three of the four broad categories of indicators used to construct the index made positive contributions in January, and three categories improved from December.

Kimball Midwest recognized for training leadership 
Kimball Midwest, a 100-year-old national industrial supplier based in Columbus, has been recognized for excellence in its training and development programs by Training magazine.

Ingersoll Rand says '22 results were 'robust' despite inflation, rising interest rates
On February 21, Ingersoll Rand Inc., a global provider of mission-critical flow creation and industrial solutions, reported a strong finish in the fourth quarter of 2022.

Enpro reports solid 30+ percent growth for 2022 sales
Enpro reported 27.8% sales growth for its 2022 fourth quarter and 30.8% higher sales for the 2022 full year.

Global Industrial’s 2022 sales rose 9.7%
Global Industrial Company released financial results February 21 for the fourth quarter ended December 31, 2022, as well as for the 2022 full year.

PTDA Foundation raises nearly $125,000 
During the first three months of its 2023 Fund Drive campaign, the PTDA Foundation raised nearly $125,000. Contributions to the annual PTDA Foundation Fund Drive support PT WORK Force, an initiative to empower PT/MC (power transmission/motion control) industry employers to be more successful in their recruitment and retention efforts.

March is National Ladder Safety Month
According to the U.S. Bureau of Labor Statistics, ladder deaths accounted for 161 on-the-job fatalities in 2020, the most recent year for which statistics are available. That same year, there were 22,710 ladder-related workplace injuries, an injury stat that has remained relatively constant over the previous several years. The point is, ladder safety is a serious topic with a staggering cost to business and even worse impact on families that lose loved ones.

New regional sales manager at Streamlight
Streamlight, Inc., a provider of high-performance flashlights, has appointed Daniel Brinkerhoff as Southeast regional sales manager for its fire and industrial markets.

Seco buys Irish supplier of medical machining solutions 
Sweden-based Seco, metal cutting specialists, has acquired Ireland-based Premier Machine Tools Ltd (PMT), a supplier of machining solutions for the medical industry.

Royal Supply Co. and Specialty Bearings launches new safety supplies company
6S Safety was launched on Feb. 10 by Don Chargin, president of Royal Supply Company and Specialty Bearings. The new company will distribute safety products to all industry segments as well as services and training for customers and in maintenance, repair, and overhaul markets and for OEMs.

Turtle & Hughes launches Austin location 
Turtle & Hughes Inc., a large, privately-held industrial and power distributor, is expanding its Texas footprint with a new 40,000-square-foot facility in Austin designed to deliver energy-efficient solutions to the region’s thriving technology sector.

2 veteran leaders retire from Sonepar 
Mike Smith, senior vice president business relationship management and data insights, and Scott Schuenke, vice president strategic development, and integration management, will retire this June from Sonepar USA.

Solve Industrial Motion Group acquires SPB-USA
Solve Industrial Motion Group, a manufacturer and seller of bearings and power-transmission component parts, has acquired SPB-USA, LLC., a factory-direct sales and marketing company of Sapporo Precision, Inc., the manufacturer of EZO Precision Ball Bearings.

Cutting tool consumption climbed 11% in 2022
December 2022 U.S. cutting tool consumption totaled $188.4 million, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report collaboration, was down 3.1% from November’s $194.4 million and up 14.6% when compared with the $164.3 million reported for December 2021. With a year-to-date total of $2.2 billion, 2022 is up 10.8% when compared to the same time period in 2021.

WESCO reports 18% sales growth for 2022
Wesco International, a provider of business-to-business distribution, logistics services, and supply chain solutions, announced 2022 fourth quarter results of $5.6 billion, up 15% YOY, and full-year 2022 record net sales of $21.4 billion, up 18% YOY.

OneSource Distributors hits $1 billion milestone
Sonepar USA, a subsidiary of the privately held Sonepar Group, announced OneSource Distributors surpassed $1 billion in sales in 2022.

Hamilton Caster & Mfg. Co. appoints president, two new hires
Hamilton Caster & Mfg. Co. has named Mark Lippert as its new president. The 116-year-old manufacturer of heavy-duty industrial casters, wheels, carts, and in-plant trailers, is in its fourth generation of family leadership. Mark succeeds his cousin, David R. Lippert, who retired in December.

MRC Global increases sales 26% YOY
MRC Global Inc., a distributor of pipe, valves and fittings (PVF) and other infrastructure products and services to diversified gas utility, energy and industrial end-markets, reported 2022 sales of $3,363 million, an increase of 26% compared to 2021. Sales for the fourth quarter of 2022 were $869 million, an increase of 27% compared to the same quarter of 2021.

2022 was 3rd best year for manufacturing technology orders
By Christopher Chidzik
New orders of manufacturing technology totaled $434.1 million in December 2022, according to the latest U.S. Manufacturing Technology Orders Report published by AMT – The Association For Manufacturing Technology. December 2022 orders were down 1.7% from November 2022 and down 27% from December 2021. Total orders for all of 2022 came to $5.54 billion, a 6% decrease from total orders in 2021.

Kennametal names new VP of Investor Relations
Kennametal Inc. has appointed Michael Pici as vice president, investor relations. He will be responsible for the company's global investor relations strategy and will report directly to Vice President and Chief Financial Officer Patrick Watson.

Industrial Supply Company recognizes top suppliers
Industrial Supply Company has announced the winners of its annual supplier awards. Presented on January 26 at the company’s Marketing Partner Summit, the awards recognize manufacturer and supplier sales representatives, as well as vendors, that have demonstrated exceptional performance, sales, and support services.

New president at AD Member Supply 
AD announced that Ben Brumfield will join the company as president, AD Member Supply, effective March 6, 2023.

Franklin Electric Co. adds 3 to IES team
Franklin Electric Co., Inc. has welcomed three new customer-facing team members to its Industrial & Engineered Systems (IES) business unit. Andrew Ross will take on the role of senior business unit manager – aftermarket, while David Gray and Marty Lehmann will serve as business unit sales managers for the Industrial Distribution and OEM business units, respectively.

Abrasive Technology promotes Barnhart
Abrasive Technology, LLC, a developer and manufacturer of superabrasive products for industrial end markets, has promoted Jim Barnhart to managing director of Abrasive Technology, Ltd., headquartered in the United Kingdom.

Timken acquires American Roller Bearing Co.
The Timken Co., maker of engineered bearings and industrial motion products, has acquired the assets of American Roller Bearing Co. (ARB), a North Carolina-based manufacturer of industrial bearings.

Pelican Rope Works - U.S. Rigging Supply expands distribution into Canada
Pelican Rope Works - U.S. Rigging Supply (PRW-USR), specializing in safety product manufacturing and distribution, is partnering with Canadian Sales Agency Group (CSAG), a manufacturer representative agency specializing in safety, construction, and industrial products. CSAG will increase in the company’s distribution and support resources offered to new and existing customers throughout Canada.

ISA April convention emphasizes networking opportunities
The Industrial Supply Association (ISA) will host ISA23 industrial supply convention April 17–19 at the Sheraton Phoenix Downtown and Phoenix Convention Center.

Alaska Rubber Group rebrands as ARG
Alaska Rubber Group, an employee-owned industrial distribution company headquartered in Anchorage, has rebranded as ARG Industrial.

Winsupply Inc. appoints new president
The Winsupply Inc. board of directors has elected Jeffrey M. Dice as president of Winsupply Inc. effective March 1. Currently the president of Winsupply Equity Group, Dice will replace Winsupply Inc. President John McKenzie, who is retiring Feb. 28.

Kennametal reports 2% sales increase YOY for fiscal Q2 
Kennametal Inc. reported sales of $497 million represent a 2 percent increase over its $487 million in the prior year quarter, reflecting organic growth of 11%, partially offset by an unfavorable currency exchange effect of 8% and an unfavorable business days effect of 1%. The company's fiscal 2023 second quarter ended December 31, 2022.

Goodyear Rubber Products celebrates 75th year, announces new headquarters
Goodyear Rubber Products, Inc., an industrial rubber products distributor headquartered in downtown St. Petersburg, Florida for 75 years, announced it will open its new corporate headquarters on February 13 in Clearwater, Florida, approximately 10 miles north of their existing facilities. The new address is 11301 47th Street North, Clearwater Florida 33762.

Mike Pence addresses distributors at NAW event
Vice President Mike Pence participated in a fireside chat with NAW CEO Eric Hoplin at its Executive Summit 2023. Pence shared his insights on the global and domestic realities ahead for North American businesses, the U.S. economy, the supply chain and more.

Motion & Control Enterprises acquires Precision Pump & Valve
Motion & Control Enterprises (“MCE”) has acquired Precision Pump & Valve (PPV) based in Lake Charles, Louisiana.

ERIKS North America appoints new chief operating officer
ERIKS North America, a distributor of fluid and material conveyance solutions for industrial customers, has appointed Michael Pastore as its chief operating officer (COO).

Interest rate watch: Wells Fargo comments on latest hike
From the Economics Group of Wells Fargo Bank, N.A.: The Federal Open Market Committee (FOMC) elected to raise the federal funds rate by 25 bps at the conclusion of its monetary policy meeting on Wednesday. This action lifted the range of the federal funds rate to 4.50%–4.75%, which is 450 bps higher than it was when the FOMC first started its tightening cycle last March.

'Fortune' names Grainger one of World's Most Admired Companies
Grainger has been ranked No. 1 among diversified wholesalers on "Fortune" magazine's 2023 list of the World's Most Admired Companies for the 10th consecutive year.

January employment trends up slightly
Total nonfarm payroll employment rose by 517,000 in January, and the unemployment rate changed little at 3.4 percent, the U.S. Bureau of Labor Statistics reported on February 3. Job growth was widespread, led by gains in leisure and hospitality, professional and business services, and health care.

White Cap raised $870,000 for charities in 2022
White Cap said it raised more than $870,000 for nonprofits across North America in 2022, thanks to company donations, the charitable efforts of its employees, and strong partnership with customers and suppliers.

Dynabrade buys abrasive converter supplier 
Dynabrade, Inc. has completed the asset purchase of its strategic supplier, Global Abrasive Products, Inc., a 50-employee abrasives converter with locations in Lockport, New York and Alpharetta, Georgia.

Wright hires new human resources manager
Wright has appointed Heather Pittman as its new human resources manager – she will handle recruiting, benefits, safety and training and development.

Majority of manufacturing reports new order contraction
Economic activity in the manufacturing sector contracted in January for the third consecutive month following a 28-month period of growth, say the nation's supply executives in the latest Manufacturing ISM Report On Business. 

Grainger posts 17% sales growth for '22, doesn't expect a '23 encore
Grainger reported its 2022 fourth quarter sales of $3.8 billion were a 13% increase over Q4 '21 – or 17.2% on a daily, constant currency basis. For the full year, sales of $15.2 billion increased 16.9%, or 19.3% on a daily, constant currency basis compared to the prior year.

Snap-on sales grew 5.7% in '22
Snap-on Inc. posted Q4 '22 net sales of $1,155.9 million, $47.6 million, or 4.3%, higher compared to 2021 levels, and reflecting an $85.3 million, or 8.0%, organic sales gain, partially offset by $37.7 million of unfavorable foreign currency translation.

NIBCO expands industry presence with acquisition of Matco-Norca LLC
NIBCO has acquired Matco-Norca, a supplier of globally sourced, code-compliant plumbing & PVF products.

Dec. construction spending down .5% 
Total construction spending during December 2022 was estimated at a seasonally adjusted annual rate of $1,809.8 billion, 0.4 percent (± 0.8 percent)* below the revised November estimate of $1,817.3 billion, according to Feb. 1 data from the U.S. Census Bureau. The value of construction for the entire year was $1,792.9 billion, 10.2 percent (±0.8 percent) above the $1,626.4 billion spent in 2021.