July 2022 News

OTC opens compressed air and rental facility

OTC Industrial Technologies announced the opening of a new manufacturing facility to support customer demand for its DIRECTAIR product.

Timken posts record sales

The Timken Company reported record second-quarter 2022 sales of $1.15 billion, up 8.5 percent from $1.06 billion in the same period a year ago.

Stanley Black & Decker's sales rise but earnings fall

Stanley Black & Decker reported higher sales but lower earnings for the second quarter.

ERP implementations big concern for many companies

According to a recent research study from Epicor, a resounding 96 percent of organizations surveyed worldwide have confidence in their ability to navigate the early stages of the ERP purchase process, from initial evaluation to requirements planning.

Rivet|MRO adds project manager

Rivet|MRO announced that Jon Bridge has joined the marketing resource organization's team as a project manager.

Applied releases new catalog

Applied Industrial Technologies announced the availability of its new 2022 / 2023 Applied Product Catalog.

Franklin Electric adds to Industrial and Engineered Systems team

Franklin Electric Co. welcomed two new team members to its growing Industrial and Engineered Systems business unit.

Milton Industries acquires Casey Tools and Lock Technologies

Milton Industries, a Chicago-based manufacturer of pneumatic and hydraulic accessories, has acquired Casey Tools and Lock Technologies.

IPG publishes sustainability report

Packaging and protective solutions manufacturer Intertape Polymer Group Inc. published its annual sustainability report, which catalogs the company’s 2021 sustainability impacts and furthers its commitments for the future.

WernerCo announces leadership changes

WernerCo announced leadership changes for the North America Sales and Channel Marketing divisions.

Omega Flex sales relatively flat

Omega Flex reported sales of $31.7 million for the second quarter, a decline of 0.7 percent compared to sales of $31.9 million in the same period last year.

Stanley Black & Decker completes sale of Security business

Stanley Black & Decker has completed the sale of most of its Security assets to Securitas AB for $3.2 billion in cash.

Index points to steady economic growth in June

The Chicago Fed National Activity Index was unchanged at –0.19 in June.

May cutting tool consumption up from last year

May 2022 U.S. cutting tool consumption totaled $175.4 million, down 0.6 percent from April’s $176.5 million and up 9.1 percent when compared with the $160.7 million reported for May 2021.

Snap-on sales grow by 5.1 percent

Snap-on reported that its net sales of $1.13 billion in the second quarter of 2022 increased 5.1 percent from $1.01 billion last year.

Streamlight names regional manager

Streamlight Inc. announced the appointment of Andrea Lofaso as regional manager – West for the company’s Industrial/Fire division.

Kano Labs inks deal with I.S.K. Industries

Kano Laboratories signed an agreement with I.S.K. Industries to represent Kano’s Kroil-branded penetrating oils and industrial-grade specialty chemicals to I.S.K.’s major national and regional accounts.

NetPlus Alliance receives University of Buffalo recognition

NetPlus Alliance has been named to the University at Buffalo’s Fast 46.

ISA launches Business Solutions Directory

The Industrial Supply Association (ISA) introduced a new Business Solutions Directory to help members locate resources on a variety of topics. 

PTDA 2022 Industry Summit details set

The Power Transmission Distributors Association (PTDA) will convene for the PTDA 2022 Industry Summit in Nashville, Tenn. on Oct. 27-29, 2022.

Sandvik acquires Peterson Tool Company

Sandvik has completed the acquisition of Nashville-based Peterson Tool Company Inc., a supplier of machine-specific custom insert tooling solutions.

Rexel USA to acquire Horizon Solutions

Rexel USA has agreed to acquire Horizon Solutions, headquartered in Rochester, New York with 10 branch locations in New York and New England.

Airline Hydraulics earns Omron Automation award

Airline Hydraulics Corporation, a distributor of industrial machinery and safeguarding products, was recognized by Omron Automation Americas as a recipient of the 2021 Distributor of the Year Award, throughout North and South America.

Kimball Midwest earns 'Best Places to Sell' designation

Kimball Midwest recently made its sixth straight appearance on an annual list of best companies to sell for, continuing to climb the prestigious rankings.

BlackHawk acquires Cornerstone Supply and Intermountain Machining

BlackHawk Industrial has acquired Jacksonville, Florida-based Cornerstone Supply and two Intermountain Machining Supply locations in Idaho and Montana.

Lawless Group acquires interest in Building Connections

The Lawless Group (TLG) has acquired an interest in Building Connections (BC) headquartered in Addison, Illinois.

Fastenal's sales climb 18 percent

Fastenal Company said its second-quarter sales increased 18 percent to $1.8 billion, compared to $1.5 billion in last year's second quarter.

2022 Industry Summit registration opens

Three leading trade associations in the motion control, sealing, and equipment services industries have joined forces to host a multi-day Industry Summit this fall.

Stanley Black & Decker Tools & Storage president to leave company

Stanley Black & Decker announced that Jaime Ramirez, executive vice president and president, Tools & Storage, will be stepping down from his role to pursue opportunities outside of the company, effective July 22.

Manufacturing Technology Orders dipped in May

Orders of manufacturing technology dipped slightly in May 2022 to $441.2 million.

The Anatomy of a Ransomware Attack (and How to Defend Against It)

Watch this webinar from Epicor to learn how to protect your company from a ransomware attack.

Manufacturing and construction jobs increased in June

Job gains in manufacturing and construction helped the nation's overall employment rise by 372,000 in June, as the unemployment rate stayed at 3.6 percent.

Exotic Automation & Supply opens 13th location

Exotic Automation & Supply announced the opening of its newest retail store location in Marysville, Michigan.

AD completes Torbsa merger

AD announced that it has completed the merger with Torbsa Limited, a leading building supplies buying group in Canada, effective July 1, 2022.

June manufacturing index falls

The June Manufacturing index from the Institute for Supply Management registered 53 percent, down 3.1 percentage points from the reading of 56.1 percent in May.

Continental acquires WCCO Belting

Continental acquires family-owned belting manufacturer WCCO Belting headquartered in Wahpeton, North Dakota.

Winsupply acquires Romar Supply and Fabrication

Winsupply Inc. has completed the purchase of Romar Supply and Fabrication, based in Texas.

ISA announces new board of directors

The Industrial Supply Association announced its new board of directors for 2022-2023.

Construction spending ticked down in May

Construction spending in May was estimated at a seasonally adjusted annual rate of $1,779.8 billion, 0.1 percent below the revised April estimate of $1,782.5 billion.