May 2020 News

Brook Electrical Supply now operating as Viking Electric
Viking Electric announced that Brook Electrical Supply is now operating as Viking Electric.

CRC Industries offers technical bulletin on workplace cleaning
CRC Industries has published a new technical bulletin entitled, ‘The Urgent Need for Proper Workplace Cleaning and Disinfecting of Hard Non-Porous Surfaces.’

Weekly Pandemic Revenue Index shows signs of improvement
The coronavirus impact on distributor revenues may be showing signs of improvement.

DGI Supply acquires Production Tool & Supply of Rockford
DGI Supply announced that it has executed agreements to acquire certain assets of Production Tool & Supply of Rockford, Illinois.

MRC Global president and CEO to retire in 2021
MRC Global announced that president and chief executive officer Andrew Lane will retire on Dec. 31, 2021.

Moldex boosts respirator manufacturing
In an effort to meet the demand for respiratory protection imposed by the COVID-19 outbreak, Moldex has ramped up its production of N95 respirator masks.

Epicor releases new ERP solution
Epicor Software Corporation announced the 10.2.600 release of its enterprise resource planning (ERP) solution.

Columbus McKinnon sales decline 7.7 percent
Net sales for Columbus McKinnon of $809.2 million for fiscal 2020 were down 7.7 percent from $876.3 million in the previous year.

NewAge Industries to expand manufacturing capacity
NewAge Industries recently purchased two building units near its southeastern Pennsylvania headquarters to expand its manufacturing capacity.

GP PRO Toolkit helps businesses re-open
GP PRO has launched Hygiene Ready, an online resource designed to help restaurants, retailers, arenas, commercial and industrial facilities, and other businesses safely re-open amidst COVID-19 and restore employee and consumer confidence shaken by the virus.

How Will Corporate Travel Change?

by Jack Rolfe

With the loosening of stay at home directives, business will start to return to the streets.

Substantial decline in Chicago Fed National Activity Index
Led by declines in production- and employment-related indicators, the Chicago Fed National Activity Index fell to –16.74 in April from –4.97 in March.

Pandemic continues to plague distributor revenues
Distributor revenues continue to suffer as a result of the coronavirus pandemic.

Dynabrade mourns loss of founder
Walter N. Welsch, founder of Clarence, New York-based power tool manufacturer Dynabrade Inc., died May 16, 2020. He was 96.

Hart joins Turtle & Hughes executive team
Caldwell Hart has joined Turtle & Hughes as senior vice president supply chain, chief procurement officer, and a member of the executive team.

March cutting tool consumption down 9.8 percent
U.S. cutting tool consumption was up 0.9 percent from February but fell 9.8 percent from March 2019.

Cline Tool acquires Davis Tool
Cline Tool, a custom tool manufacturer headquartered in Newton, Iowa, recently acquired Davis Tool, a manufacturer of boring bars, block cutters and tool sets.

Warehouses Need Optimized WiFi - Here’s How to Get It

by Roger Sands, CEO and Co-Founder of Wyebot

As states phase in re-opening economies and businesses, warehouses are starting to resume semi-normal operations.

Columbus McKinnon names new CEO
Columbus McKinnon Corporation has appointed David J. Wilson as president and chief executive officer effective June 1. 

Weekly Pandemic Revenue Index shows signs of stabilizing
While still measuring in double digits, the weekly Pandemic Revnue Index may be showing that revenue declines are stabilizing.

NAHAD to extend board member terms for one year

By Rich Vurva

NAHAD members voted to extend the terms of current board members for an additional year at today’s annual membership meeting held online.

Turtle & Hughes recognized as a Best Place to Work in NJ
Turtle & Hughes has been recognized by NJBIZ, New Jersey's leading business journal, as one of the 2020 Best Places to Work in New Jersey.

MSC says April sales declined 10.5 percent
MSC Industrial Supply reported total net sales for the month of April were $235.5 million, a decrease of 10.5 percent from $263 million in April 2019.

Ingersoll Rand sales climb 29 percent
Ingersoll Rand reported first-quarter revenues of $800 million were up 29 percent due primarily to the acquisition by Gardner Denver Holdings of Ingersoll-Rand plc's industrial segment.

Manufacturing technology orders decline
U.S. manufacturing technology orders of $301.2 million were 29.3 percent percent lower than in March 2019.

Stoneburner to head Kaman Industrial Technologies
Kaman Distribution Group has appointed industry veteran Mark Stoneburner executive

vice president and general manager of its Kaman Industrial Technologies business unit.

DNOW embarks on ‘structural transformation'

by Rich Vurva

As part of a three-part structural transformation strategy to position the company for the future, NOW Inc. plans to reduce headcount by 1,250 people by the end of the year. The company currently employs 3,150 people.

DXP Enterprises sales fall 3 percent
DXP Enterprises reported a sales decline of 3.3 percent to $301.0 million in the first quarter, compared to $311.2 million for the first quarter of 2019.

Two million factory and construction jobs lost in April
More than 2 million workers in manufacturing and construction lost their jobs in April as the nation grappled with stopping the coronavirus pandemic.

Industrial Supply Company names new VP
Industrial Supply Company promoted Chad Littlefield to vice president of Human Resources and People Solutions.

ParkOhio sales decline 12.8 percent
Park-Ohio Holdings Corp. said its net sales were $366.3 million in the first quarter of 2020, a 12.8 percent decline from $420.1 million in the first quarter of 2019.

Weekly Pandemic Revenue Index continues to show decline
The weekly Pandemic Revenue Index shows that distributors are still seeing double-digit sales declines.

Motion Industries customers are returning to work

by Rich Vurva

As states begin to loosen stay-at-home requirements imposed by the coronavirus pandemic, Genuine Parts Company chairman and CEO Paul Donahue says that the company is beginning to see more factories returning to work.

Manufacturing productivity down 3.3 percent
Manufacturing sector labor productivity decreased 3.3 percent in the first quarter of 2020, as output decreased 7.1 percent and hours worked decreased 3.9 percent.

Soaring PPE sales results in April sales gain for Fastenal

by Rich Vurva

A surge in orders of personal protective equipment in response to the COVID-19 pandemic enabled Fastenal to grow sales in April.

NOW Inc. sales drop 23 percent
NOW Inc. reported revenue of $604 million for the first quarter, a 23 percent decline from $785 million in the same period last year.

Surviving the COVID-19 Cash Crunch

By Rich Vurva

In downturns, revenue and cash levels always fall faster than expenses. For most distributors, that means the next few months may get ugly from a financial standpoint.

Sales decline 3.7 percent at Genuine Parts Company
Genuine Parts Company ended the first quarter with sales of $4.6 billion, a 3.7 percent decrease compared to $4.7 billion for the same period in 2019.

Starrett adds three sales managers
The L.S. Starrett Company recently announced three sales management appointments in North America.

Kennametal sees Q3 sales decline of 19 percent
Kennametal said its fiscal 2020 third-quarter sales of $483 million decreased 19 percent from $597 million in the prior year quarter.

Distributors adjust to pandemic

By Rich Vurva

Despite being designated as essential businesses and allowed to remain open during the COVID-19 pandemic, industrial distributors have not been immune to its economic fallout.

Manufactured goods orders decline 10.3 percent
New orders for manufactured goods declined by 10.3 percent to $445.8 billion in March, the U.S. Census Bureau reported today.

Kimball Midwest named a top workplace
Kimball Midwest recently was named a Top Workplace for 2020 by Columbus CEO magazine for the eighth consecutive year.

COVID impact on AHTD members
A recent AHTD Business Conditions Report showed that companies that support automotive manufacturers have been among the hardest hit by the coronavirus pandemic.

Manufacturing slowed considerably in April
The COVID-19 pandemic hit the manufacturing sector hard in April, as factories shut down or severely curtailed production.

Construction spending increased in March
Construction spending during March was estimated at a seasonally adjusted annual rate of $1,360.5 billion, 0.9 percent above the revised February estimate of $1,348.4 billion.

AD member sales grew by 2 percent in first quarter
AD reported a 2 percent increase in member sales across its 12 divisions, totaling $11 billion in the first three months of 2020.

3M heads to court to combat fraud and counterfeiting
3M has filed five legal actions in federal courts in Florida, Wisconsin and Indiana as part of its global effort to protect the public and combat fraud and counterfeiting.

Sales decline 5.7 percent at Timken
The Timken Company reported first-quarter 2020 sales of $923.4 million, down 5.7 percent from $979.7 million in the same period a year ago.