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May 2023 News

Trade Tools named DPA Industrial Distributor of the Year
During its annual Industrial Buying & Networking Conference in April, DPA announced its 2022 Industrial Distributor of the Year award went to Trade Tools, Mendota Heights, Minnesota. DPA’s 2022 Industrial Supplier of the Year award was given to Midland Industries a valve and fitting manufacturer in Kansas City, Missouri.

ISA announces diversity workshop
The Industrial Supply Association will present a half-day workshop titled "How to Build a Culture of Diversity, Equity, Inclusion & Belonging (DEIB)," hosted by the Women in Industry Network. The virtual workshop will take place on June 6, 11 a.m. to 2:45 p.m. ET and is free to all employees of ISA-member companies. Non-members can register for $299.

Industrial Supply launches 'The Hot Seat' video program
Industrial Supply magazine has launched a new video program – THE HOT SEAT – to supplement its array of content platforms for distribution executives. Featuring fast-paced, one-on-one interviews with IS Editor Kim Phelan, each video is a short dialog with a subject matter expert in the industrial sector.

Kennametal tools published in Lockheed Martin machining guide
Kennametal Inc.'s HARVI solid carbide end mills will be included as a preferred product in Lockheed Martin's internal machining guide. Produced by Lockheed Martin Aeronautics' Operations Technology group for internal operations and engineering, as well as global supply-chain partners, the resource identifies the most effective parameters and processes for machining material-specific aerospace components.

Columbus McKinnon closes montratec acquisition
Columbus McKinnon Corp., a designer and manufacturer of intelligent motion solutions for material handling, has closed the previously announced acquisition of montratec GmbH, an automation solutions company that designs and develops intelligent automation and transport systems for interlinking industrial production and logistics processes.

Ingersoll Rand upgraded on sustainability 
Ingersoll Rand Inc., a global provider of mission-critical flow creation and industrial solutions, had its risk rating upgraded from Medium to Low by Morningstar Sustainalytics.

S & S Hinge sold to Quality Hinges
S & S Hinge Co., Bloomingdale, Illinois, announced new ownership effective since May 1 – third-generation President and CEO Chris Stevenson has sold the 91-year-old manufacturing business to Greg and Mary Grimler, owners of Quality Hinges located in University Park, Illinois.

DSG breaks ground in Wisconsin
Dakota Supply Group (DSG) celebrated the groundbreaking ceremony for a new facility in Eau Claire, Wisconsin, on May 16, which will be the company's fifth location in the state.

Emerson technology deployed in innovative recycling process 
Global software and technology provider Emerson said it's helping the Swedish cleantech company HaloSep to optimize their unique process that turns hazardous incinerator flue gas residue from waste-to-energy plants into usable materials.

NAW urges swift passage of Fiscal Responsibility Act 
The National Association of Wholesaler-Distributors (NAW) which represents the 8.2 trillion-dollar wholesale distribution industry, issued the following statement today after the announcement of a debt ceiling deal between President Joe Biden and House Speaker Kevin McCarthy (R-CA):

Manufactured durable goods orders up 1%
New orders for manufactured durable goods in April, up two consecutive months, increased $3.1 billion or 1.1 percent to $283.0 billion, the U.S. Census Bureau announced today.

Index points to a pickup in economic growth in April
Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) rose to +0.07 in April from –0.37 in March.

Columbus McKinnon reports record sales of $253.8 million
Columbus McKinnon Corp., a designer, manufacturer and marketer of intelligent motion solutions for material handling, said it set achieved record fiscal 2023 sales of $936.2 million and record fourth quarter sales of $253.8 million.

Paul Kennedy elected to AD corporate board of directors
AD announced Paul Kennedy, president and CEO of Dakota Supply Group, has been elected to its board of directors. He has has over 30 years of experience in the plumbing, electrical, HVAC/R and waterworks distribution industries.

Metabo HPT receives ‘Supplier of the Decade’ award
Metabo HPT was recently recognized as “Supplier of the Decade” by SouthernCarlson for professional-grade tools, fasteners, jobsite supplies and expert service since 1947.

HellermannTyton partners with Mag Daddy
HellermannTyton, a worldwide manufacturer of industrial and commercial fasteners and mounts, has partnered with Mag Daddy LLC to supply Mag Daddy's line of ultra-strong magnetic wire-routing mounts and fasteners. The products will be sold through HellermannTyton North America's distributor network.

Wesco expands innovation solutions portfolio
Wesco International, a provider of business-to-business distribution, logistics services, and supply chain solutions, has expanded its portfolio of services to include the formation of an Innovation Partner Ecosystem; the expansion of internet of things (IoT) Advisory Services; and the opening of a new solutions innovation center in Glenview, Illinois.

Timken adds to investments in renewable energy capabilities
The Timken Co., a provider of engineered bearings and industrial motion products, will invest $70 million to further expand manufacturing capabilities to support increased demand for its wind energy solutions. This adds to its previously announced $75 million commitment to strengthen both wind and solar capabilities, bringing the total investment to $145 million since 2020 to expand the company's renewable energy capacity in Europe and Asia.

ROEMHELD launches line of 'Quick Ship' product
ROEMHELD North America, a manufacturer of power workholding products, has launched a new Quick Ship product line – a collection of the company's most popular and robust products now available for online purchase through Carr Lane Manufacturing's website, carrlane.com.

Epicor rolls out AI-enabled capabilities for customers
During its Insights 2023 user conference May 16–17, Epicor, a global provider of industry-specific enterprise software, unveiled its vision for the connected data supply chain to help distributors as well as manufacturers optimize their own operations and more closely collaborate with trusted partners and industry ecosystems for a dynamic and responsive supply chain.

Global Industrial acquires Indoff Inc.
Global Industrial Co., a value-added national distributor of industrial products and MRO supplies, has acquired 100% of the issued and outstanding equity interests of Indoff for approximately $69.2 million in cash. Headquartered in St. Louis, Missouri, Indoff is a value-added business solutions provider and distributor serving businesses across the U.S. and parts of Canada. 

Industrial sales up about 10% at RBC Bearings
RBC Bearings Inc. reported net sales of $394.4 million for its fourth fiscal quarter of 2023, an increase of 9.9% over last year.

Marsh Bellofram earns safety recognition
Marsh Bellofram will be recognized for its commitment to safety in the workplace by the Association for Rubber Products Manufacturers (ARPM) on May 25 during the association's Environmental, Health and Safety Summit in Columbus, Ohio. The company will be awarded in the Best Safety Practice category.

Two industry veterans join Sellars leadership team
Sellars Absorbent Materials, a Milwaukee-based manufacturer of wipes, absorbents and towel and tissue products, has recruited two industry veterans to its sales leadership team: Larry Cook has joined Sellars as vice president of commercial sales and Paul Ihde has been hired as director of commercial sales. Combined, they have more than 60 years of sales experience.

NAW appoints new chief government relations officer
The National Association of Wholesaler-Distributors (NAW), which is the voice of the 8.2 trillion-dollar wholesale distribution industry that employs more than 6 million U.S. workers, has hired Brian Wild as NAW’s new chief government relations officer.

Fed: Most major market groups recorded growth in April
Industrial production rose 0.5% in April after moving sideways the previous two months, the Federal Reserve Board reported.

3M, Savante to co-develop CO2 removal products
3M says it is expanding its ongoing commitment to materials science-based climate tech solutions by working with Svante Technologies, Inc. to develop material that can trap carbon dioxide found in the atmosphere and permanently remove it.

Streamlight names top sales rep agency of the year
Streamlight Inc., a provider of high-performance flashlights, announced that Holt & McArdle, Inc. received the company’s 2022 Sales Rep Agency of The Year award for the fire and industrial markets.

3M dismisses group president
3M announced on May 15 that Michael Vale has been terminated for cause from the company, effective May 12, 2023. His dismissal is due to inappropriate personal conduct and violation of company policy, unrelated to the company's operations and financial performance. When 3M learned of and verified the violation, it took immediate action.

Bosch and partners launch multi-brand battery platform
On May 16, Bosch Power Tools, with founding partners FEIN and Rothenberger, announced the launch of AMPShare – Powered by Bosch now available in the U.S. and Canada.

Sandvik Coromant employee recognized for workforce advocacy
Dayton Region Manufacturers Association (DRMA) recently honored Garry Jankowski, application specialist at Sandvik Coromant, for his efforts as one of its most active career event volunteers. Jankowski has dedicated countless hours to introducing students and young people to careers in manufacturing as part of his more than 20 years volunteering with DRMA.

Global supply chain professionals sound alarm on biggest '23 challenges
A Container xChange survey among 1,200 supply chain professionals globally showed that for the second half of 2023, recession in the U.S. remains the top concern, followed by geopolitical risks and rising operating costs.

White Cap and DEWALT partner to support St. Jude 
White Cap, a distributor of specialty construction supplies and safety products for professional contractors, and DEWALT, a Stanley Black & Decker brand and leader in total jobsite solutions, have announced a charitable partnership to support the mission of St. Jude Children's Research Hospital: Finding cures. Saving children.

NIBCO rolls out free customer spec-review service 
NIBCO, a provider of industrial valves, fittings, and flow control, announced it is offering a free, one-on-one specification review service to help customers ensure they're meeting the most current industry standards.

March cutting tool orders raise year-to-date total 18% 
By Delaney Taubenberger
March 2023 U.S. cutting tool consumption totaled $225.6 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 up 14.6% from February’s $196.9 million and up 14.9% when compared with the $196.4 million reported for March 2022. With a year-to-date total of $618.9 million, 2023 is up 18.1% when compared to the same time period in 2022.

Stellar Industrial Supply expands with WDS deal
Stellar Industrial Supply has merged the business and Salt Lake City and Spokane regional distribution hubs from WDS (White Distribution & Supply), into its overall platform. WDS is an industrial distribution and supply chain management services provider. 

Fasteners Inc. appoints vp of people and culture
Fasteners Inc. Southwestern Supply and Professional Contractor Supply welcomed Dr. Christina Nishiyama as the new vice president of people and culture. 

White Cap to acquire Tri-Boro Construction Supplies
White Cap L.P. has entered into a definitive agreement to acquire substantially all of the assets of Tri-Boro Construction Supplies, a Pennsylvania-based concrete accessories and construction supply company. Upon the completion of the transaction, the Tri-Boro Construction Supplies business will become part of the White Cap suite of brands and branches.

Turtle named Private Company Board of the Year
The National Association of Corporate Directors (NACD) New Jersey Chapter named Turtle the Private Company Board of the Year at the organization’s 2023 Annual Director of the Year Awards. During a formal ceremony May 8 in West Orange, New Jersey, the event recognized public, private, and nonprofit board leaders in the state.

AD Bearings & Power Transmission celebrates winners of Spirit of Independence Awards
AD Bearings & Power Transmission held its annual Spirit of Independence Awards on March 23 in San Diego during the division’s 2023 North American Meeting. The awards recognize Bearings & Power Transmission members and suppliers for growth performance, conversions, market planning, workplace excellence, and giving back efforts.

Distribution Solutions Group grows adjusted revenue 28%
Distribution Solutions Group, Inc. announced first quarter GAAP revenue was $348.3 million, an increase of $194.2 million or 126.0%, which included $38.9 million of additional revenue from companies acquired in 2022 other than Lawson Products.

Douglas Manufacturing acquired by Rulmeca Group
Douglas Manufacturing, based in Pell City, Alabama, has been acquired by Rulmeca Holding, Spa. Douglas Manufacturing is a manufacturer of conveyor components and engineered conveying solutions.

HD Compression named Ingersoll Rand distributor for Quebec
Ingersoll Rand announced it is partnering with HD Compression, Montreal, Canada, which will offer reciprocating, rotary and centrifugal compressors along with a full suite of Ingersoll Rand’s air treatment equipment, replacement parts and CARE offerings in the province of Quebec.

MRC Global reports healthy quarterly performance
MRC Global Inc. reported first quarter sales of $885 million, a 2% sequential increase from the fourth quarter of 2022 driven by the downstream, industrial and energy transition (DIET) sector, and a 19% improvement compared to the same quarter a year ago.

New categories introduced for PIE Technology Platform
Bearing Specialists Association (BSA) and the Power Transmission Distributors Association (PTDA) have introduced two new product categories – belt drives and bearing accessories and tools – to the PIE Technology Platform (PIE). PIE is a cloud-based platform giving manufacturers and distributors of industrial products access to the most comprehensive catalog for the exchange of rich content product information.

IWDC Partners with DDS to improve members' e-commerce abilities
IWDC, a member-owned purchasing and marketing cooperative serving the North American industrial gas and welding industry, has announced a strategic partnership with DDS (Distributor Data Solutions), the wholesale distribution industry's leading product content solutions provider.

Kimberly-Clark Professional awards companies for waste reduction
Kimberly-Clark Professional, a global manufacturer of personal protective equipment (PPE) for industrial and scientific applications, has bestowed the 2023 Greenovation Awards on 49 companies for demonstrating sustainability leadership and reducing their environmental impact by participating in landfill diversion programs.

NAW urges bipartisan action on debt ceiling, federal spending 
The National Association of Wholesaler-Distributors (NAW) issued the following statement from CEO Eric Hoplin on the debt ceiling crisis, ahead of President Joe Biden’s Tuesday meeting with Republican and Democrat leaders in the House and Senate:

Ingersoll Rand reports 22% revenue gain
Ingersoll Rand Inc. reported first quarter orders of $1,777 million, up 9%, or 8% organic. Its first quarter revenues of $1,629 million are up 22%, or 20% organic.

Leuze welcomes new executive
On April 1, Xavier Hamers began his role as the new CEO and chairman of the executive board of the global Leuze electronic group.

NetPlus Alliance maps growth strategy, unveils partnerships 
Folowing a year of significant growth in 2022, NetPlus Alliance, an industrial and contractor supplies buying group, says it's focused on expanding key product categories, investing in technology and driving engagement to facilitate partnerships and continued growth for its distributor and supplier members in 2023.

March '23 orders deliver one of best March totals since '08
New orders of manufacturing technology totaled $543.2 million in March 2023, according to the latest U.S. Manufacturing Technology Orders Report published by AMT – The Association For Manufacturing Technology. March orders were up 16.5% over February 2023 orders and just under 2% below March 2022 orders. Orders through the first quarter of 2023 totaled $1.36 billion, just 7.5% below the first quarter of 2022.

Harvey Gerstman Associates appoints new president
Harvey Gerstman Associates (HGA), a leading Manufacturers Representative agency in the construction, industrial, safety, and retail markets, has promoted Charlie Gerstman to president.

Little change in U.S. unemployment 
Total nonfarm payroll employment rose by 253,000 in April, and the unemployment rate changed little at 3.4%, the U.S. Bureau of Labor Statistics reported today.

Fastenal quarterly results slightly over '22
Fastenal reported first quarter net sales of $586 million, which compared to its results of $570 million for the same period in 2022 represents a 2.7% increase.

Wesco tallies $5.5 billion for first quarter 
Wesco International, a provider of business-to-business distribution, logistics services and supply chain solutions, reported first quarter net sales of $5.5 billion, up 12% YOY.

Hyson unveils brand refresh
HYSON Metal Forming Solutions, a business of Barnes, announced a refresh of its brand that includes an updated logo and visual branding to support HYSON’s mission to focus on innovation that creates value for the customer through a passionate and empowered team.

Allied Motion reports 27% revenue growth
Allied Motion Technologies Inc., a designer and manufacturer of precision and specialty controlled motion products and solutions for the global market, reported record revenue of $145.5 million for its first quarter ended March 31, 2023. 

Singer Industrial adds Hotsy Industrial Systems to fluid power division
On Friday, April 28, Singer Industrial (formerly SBP Holdings) joined forces with Hotsy Industrial Systems. Hotsy Industrial Systems will operate within the fluid power division of Singer Industrial, increasing Singer Industrial’s North America footprint to approximately 85+ locations with over 1,000 employees.

AD Mexico community convenes at spring meeting
AD Mexico members and suppliers strengthened partnerships and discussed new avenues for growth during the 2023 AD Mexico Spring Network Meeting held in Cancún March 21–23.

Sales dip 5% for Global Industrial
Global Industrial Co. reported its first quarter consolidated sales decreased 5.1% to $273.8 million compared to $288.6 million last year. Sales decreased 3.7% on an average daily sales basis.

At 50, AFFLINK celebrates expansion, focus on sustainability
AFFLINK is celebrating 50 years as the “home for the independent distributor." The company started as a buying group network of jansan distributors.

AD Bearings & Power Transmission meeting underscores new support staff, member learning opportunities
At the North American AD Bearings & Power Transmission meeting March 21 –24, members and suppliers met the division’s newest team members: Tony Clark, director of supplier relations, joined the divisional team in late 2022; Brooks Bentz, director of member engagement, joined in early 2023. 

Kohl to give STAFDA address 
Russell Kohl, president and CEO of Diablo/Freud Tools in Atlanta, Georgia, will deliver the Associate State-of-the-Industry address during the Specialty Tools & Fasteners Distributors Association Convention & Trade Show in San Antonio. His General Session presentation is Monday, November 6.

Enpro CFO/EVP sets 2024 retirement
Milt Childress, executive vice president and chief financial officer at Enpro Industries, plans to retire in the first half of 2024. The company is moving forward with a search for his successor, aided by executive search firm, Korn Ferry. The company says Childress is committed to ensuring a seamless transition period and will remain in his role until a successor is named and fully onboarded.

March durable goods up 3%
New orders for manufactured durable goods in March, up following two consecutive monthly decreases, increased $8.6 billion or 3.2% to $276.4 billion, the U.S. Census Bureau reported.

Epicor to build data center in India
Epicor, a global provider of industry-specific enterprise software plans to launch a new regional data center for India, supported by surging customer cloud adoption.

Enpro reports 4.6% Q1 sales bump
Enpro Industries, Inc. reported sales of $282.6 million – up 4.6% – and a 6% increase in organic sales for the three months ended March 31, 2023.

Kennametal increases outlook after third quarter sales growth
Kennametal Inc. reported sales of $536 million for its fiscal 2023 third quarter ended March 31, 2023. It represents a 5% increase year-over-year, which the company says was driven by 8% organic growth.

Reshoring and FDI up 53%, a new record
Reshoring + FDI (foreign direct investments) job announcements in 2022 were at the highest rate ever recorded, according to The Reshoring Initiative’s 2022 Data Report. The organization said fourth-quarter announcements accelerated even more than anticipated due to the Chips and Infrastructure Acts and deglobalization trends.

Danfoss Power Solutions names division president 
Danfoss Power Solutions, a global supplier of mobile and industrial hydraulics as well as electric powertrain systems, has appointed Andrew Smulski as the new president of its Fluid Conveyance division, effective immediately.

AD members achieve Q1 record sales over $18 billion
AD reported that member sales in the first three months of 2023 reached a new Q1 record of $18.3 billion, an increase of 6% across 14 divisions and three countries.

Construction spending inches up 4.3% YoY
During the first three months of this year, total construction spending amounted to $403.3 billion, 4.3 percent (±1.0 percent) above the $386.7 billion for the same period in 2022, according to the U.S. Census Bureau.