June 2020 News

Genuine Parts Company sells S.P. Richards
Genuine Parts Company has completed the sale of its S.P. Richards operations through two separate transactions.

Evergreen Marketing Group names board
The Evergreen Marketing Group announced its new board of directors and supplier advisory council effective July 1.

The Robotics Evolution Brief
MCA Associates announced the launch of a new quarterly email newsletter focused on robotics in distribution.

SKF named a GM Supplier of the Year
SKF was named a GM Supplier of the Year by General Motors during a virtual ceremony honoring the recipients of the company’s 28th annual Supplier of the Year awards.

ES Tech Group becomes IMARK service provider
ES Tech Group, a B2B e-commerce solution provider serving numerous distribution industries, including electrical, plumbing, and industrial, has become a member service provider to IMARK Group.

ZSi-Foster acquires Hydra-Zorb 
ZSi-Foster, an Ideal Tridon company, has completed the acquisition of Hydra-Zorb Company for an undisclosed purchase price.

Enerpac Tool Group sales plunge 38 percent
Sales declined 38 percent to $102 million for Enerpac Tool Group in the third quarter, compared to $178 million in the same period last year.

Kraft Fluid Systems adds territory manager
Kraft Fluid Systems welcomed Adam Cornell as a new territory manager in Wisconsin, tasked with developing a new Danfoss territory in the northern part of the state.

Dakota Supply Group to acquire Honold & La Page
Dakota Supply Group (DSG) announced the impending acquisition of Honold & La Page Inc. effective July 1, 2020.

Airmaster publishes ventilation and cooling device guidelines
Airmaster has published a series of guidelines and best practices for increasing ventilation in the workplace during the COVID-19 crisis.

Grainger to sell Grainger China
Grainger has agreed to sell its distribution business in China, Grainger China LLC, to a purchaser owned by the Grainger China management team and Sinovation Ventures, a China-based venture capital firm.

Ohio Transmission Corp. names new CEO
After 38 years of service, Ohio Transmission Corporation’s long-time chief executive officer, Phil Derrow, will be transitioning to a new role as chairman for the company.

Chicago Fed Index up substantially in May
The Chicago Fed National Activity Index rose to +2.61 in May from –17.89 in April.

WESCO International completes Anixter acquisition
WESCO International has completed its merger with Anixter International Inc., creating a global B2B distribution and supply chain solutions company.

Pandemic Revenue Index shows 8.5 percent decline
The weekly Pandemic Revenue Index has fallen back into negative territory after a one-week respite.

Valley Forge & Bolt appoints chief metallurgist
Valley Forge & Bolt, a Phoenix-based manufacturer of hot-forged industrial fasteners, welcomed Rick Bailey to the company as chief metallurgist.

Kimball Midwest names chief marketing officer
Kimball Midwest has promoted marketing veteran Todd Karas to chief marketing officer.

U.S. cutting tool consumption falls
April U.S. cutting tool consumption totaled $142.9 million, down 24.7 percent from March's $189.8 million and down 31.1 percent compared with $207.5 million reported for April 2019.

Castlebar adds sales representative
Castlebar Corporation has added Ryan Grauel as a regional sales representative for its manufacturing and distribution business.

Industrial production increased 1.4 percent in May
Total industrial production increased 1.4 percent in May, as many factories resumed at least partial operations following suspensions related to COVID-19.

AD helped members navigate PPP
AD recently co-hosted a webinar intended to help its members navigate the SBA's Paycheck Protection Program, the loan program designed to enable small businesses to keep their workers on the payroll during the COVID-19 pandemic.

Ingersoll Rand names new CFO
Ingersoll Rand Inc. appointed Vikram “Vik” Kini as its senior vice president and chief financial officer.

Dayco expands sales and marketing team
Dayco recently announced organizational changes to better position the company’s aftermarket business for strategic and synergistic growth.

Hy-Brid Lifts updates sales team
Hy-Brid Lifts, a provider of high-quality, low-level access equipment, announces updates to its sales team.

Jason Industries sales fall 9.6 percent
Jason Industries reported first-quarter sales of $84.0 million decreased 9.6 percent from $93 million in the same period last year.

HD Supply remains committed to business unit split

by Rich Vurva

Although the economic downturn resulting from the COVID-19 pandemic delayed plans for HD Supply to separate its two business units, the company remains committed to the move.

Why demand forecasting and planning are more important than ever
The current COVID-19 pandemic, and recent social unrest and protests, is a reminder that uncertainty and unpredictability will continue to surround us.

MSC sees uptick in May sales
The coronavirus pandemic continues to boost sales of PPE at MSC Industrial Supply, resulting in an overall sales gain for the month of May.

PTDA Industry Reports show decline into 2021
Two reports released by the Power Transmission Distributors Association indicate that the industry slowdown will likely last until 2021.

HD Supply sales decline 6.6 percent
HD Supply Holdings said its net sales of $1.4 billion for the first quarter of fiscal 2020 were down 6.6 percent compared to $1.5 billion in the first quarter of fiscal 2019.

Castlebar names national sales manager
Castlebar Corporation announced the hiring of Jeff Sandt as its new national sales manager.

Kennametal takes action to lower costs
Kennametal Inc. is implementing cost-control actions to mitigate the lower market conditions associated with COVID-19.

AD fall meetings to be virtual
AD announced that it plans to move to a virtual format for its 2020 North American meeting and other fall meetings.

NOW Inc. names new CEO
NOW Inc. has promoted CFO David Cherechinsky to lead the company as full-time chief executive officer.

Jason Industries to enter Chapter 11
Jason Industries has entered into a restructuring agreement with senior secured lenders and plans to enter into bankruptcy protection.

Atlas Copco acquires French distributor
Atlas Copco has acquired Ovity Air Comprimé, a specialized distributor of industrial air compressors and solutions for compressed air.

Pandemic Revenue Index in positive territory
For the first time since Indian River Consulting Group began tracking distributor revenues at the start of the coronavirus pandemic, the index has moved into positive territory.

Manufacturing and construction jobs returned in May
Factories and construction sites started picking up activity in May, clawing back some of the job losses incurred by the coronavirus pandemic.

Endries International acquires All-West Components
Endries International announced its acquisition of All-West Components & Fasteners Inc.

Dorner helps get respirators where they're most needed
As the COVID-19 pandemic continues causing major disruptions throughout the packaging industry on levels never seen before, Dorner is meeting these challenges head on.

Productivity decreased 0.9 percent in Q1
Worker productivity declined in the first quarter, the U.S. Labor Department said today, as the coronavirus pandemic slowed output and hours worked.

Fastenal sales up 4.4 percent in May
Sales of safety related products continue to fuel revenue gains for Fastenal.

Manufactured goods orders decline deepens
New orders for manufactured goods decreased 13.0 percent in April to $384.3 billion, following an 11.0 percent March decrease.

PT WORK Force resources support PT/MC employers
The PTDA Foundation's PT WORK Force initiative offers a variety of ways to assist power transmission/motion control (PT/MC) employers to support, retain and motivate employees even during the COVID-19 pandemic.

AIS announces Supplier of the Year Awards
AIS-All Integrated Solutions, an MSC company, announced its 2019 Supplier of the Year awards.

Grainger to sell Fabry
Grainger has entered into a definitive agreement to sell Fabory Group to Torqx Capital Partners, a Dutch private equity company.

WESCO and Anixter choose future leadership
WESCO International and Anixter International announced the future leadership team and organizational structure that will become effective upon the completion of the merger of the two companies.

Manufacturing index improved in May
While still in contraction territory, the Institute for Supply Manufacturing's index registered 43.1 percent, 1.6 percentage points higher than the April reading of 41.5 percent.

April construction spending 2.9 percent below March
Construction spending during April 2020 was estimated at a seasonally adjusted annual rate of $1,346.2 billion, 2.9 percent below the revised March estimate of $1,386.6 billion.

Millard wins NAED Trailblazer Award
The National Association of Electrical Distributors has selected Jayne Millard to receive the organization’s 2020 Women in Industry Trailblazer Award.

Kimball Midwest awarded OMNIA Partners contract
Kimball Midwest has been awarded a new contract with Region 4 Education Service Center that allows Kimball Midwest to sell to participants of OMNIA Partners, Public Sector at a discounted rate.

Mars Supply acquires Eagan-based Machine Tool Supply
Mars Supply, a general line industrial supply company based in Bloomington, Minnesota, has acquired certain assets of Machine Tool Supply Co. based in Eagan, Minnesota.