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November 2018 News

Gardner Denver names new CFO

Gardner Denver Holdings announced that Neil Snyder will succeed Todd Herndon as the company’s chief financial officer effective Jan. 1, 2019.

RBC Bearings sells Avborne Accessory Group

RBC Bearings announced the sale of its subsidiary, Avborne Accessory Group Inc., located in Miami, to AerSale Inc. for $21.5 million.

Real GDP up by 3.5 percent in 3Q

Real gross domestic product increased at an annual rate of 3.5 percent in the third quarter of 2018, according to the "second" estimate released by the Bureau of Economic Analysis.

Winsupply acquires MSI Supply

Winsupply Inc. has purchased MSI Supply, a Houston-based distributor of pipe, valves and fittings. Details of the stock purchase were not disclosed.

Weiler expands program to benefit Workshop for Warriors

Weiler Abrasives announced additions to its national fundraising campaign, “Leading a Warriors Charge” that was launched in June in partnership with Workshops for Warriors.

Streamlight names regional sales manager

Streamlight Inc., a global provider of high-performance lighting tools, named Tony Casciano Jr. Northeast regional sales manager for the fire and industrial markets.

PTDA Business Index suggests slower growth

The second quarter 2018 Sales History & Outlook Report released by the Power Transmission Distributors Association indicates the average PTDA distributors’ index for total sales during 2Q18 was up 6.5 percent from the year-ago level.

Seco Tools to acquire Chinese carbide tool maker

Sandvik's Seco Tools division has agreed to acquire the Chinese company Kunshan Ousike Precision Tools Co. Ltd., a supplier of solid carbide round tools.

Index points to slight October increase in economic growth

Led by improvements in employment-related indicators, the Chicago Fed National Activity Index increased to +0.24 in October from +0.14 in September.

Amerisource Industrial Supply Joins Fairmont Supply Family of Companies

Fairmont Supply announced that Detroit-headquartered Amerisource Industrial Supply has joined the Fairmont Supply family of companies.

Audax acquires Colony Hardware

Audax Private Equity has acquired a controlling interest in Colony Hardware Corporation, a distributor of tools, safety products, and other contractor supplies headquartered in Orange, Connecticut.

PTDA Foundation raised nearly $290K for PT WORK Force

Recruiting and retaining employees continues to be a challenge for power transmission/motion control (PT/MC) employers.

Emuge to expand U.S. manufacturing facility

Emuge Corp., a manufacturer of high-performance taps, drills, end mills and other rotary tools, has recently broken ground on a 22,000 sq. ft. expansion project.

Johnson Level names new CEO

Peter J. Chatel has been named chief executive officer of Johnson Level and president of Hultafors Group North America, effective Nov. 26.

Stellar named Snap-on affiliate of the year

Stellar Industrial Supply announced that it received the Affiliate-of-the-Year Award from Snap-on Industrial Brands.

SBP Holdings to acquire Dakota Fluid Power

SBP Holdings announced that it will acquire Dakota Fluid Power and subsidiaries. The acquisition is scheduled to close Dec. 3, 2018.

Home Depot 3Q sales grew by 5.1 percent

The Home Depot reported sales of $26.3 billion for the third quarter of fiscal 2018, a 5.1 percent increase from the third quarter of fiscal 2017.

STAFDA leadership announced

New leadership was elected by members of the Specialty Tools & Fasteners Distributors Association (STAFDA) during the association’s 42nd Annual Convention & Trade Show in Phoenix, October 28-30.

Miko receives PTDA Warren Pike Award

The Power Transmission Distributors Association (PTDA) has named Ken Miko, director, Category Management and Strategic Accounts, BDI in Cleveland, Ohio, the 28th recipient of its Warren Pike Award for lifetime achievement in the power transmission/motion control industry.

Manufacturing technology orders soar in September

Manufacturing technology orders posted in August and September yielded the second largest two-month total in the program’s history at $1.1 billion.

Sandvik Coromant to acquire Dura-Mill

Sandvik Coromant has agreed to acquire Dura-Mill Inc, a manufacturer of precision solid carbide end mills.

Rowland Company acquires Clutch Engineering

The Rowland Company of Philadelphia has acquired Clutch Engineering, Canton, Connecticut.

CGW-Camel Grinding Wheels becomes CGW Abrasives

CGW-Camel Grinding Wheels announced its new identity as CGW Abrasives.

Rockwell Automation sales rise 3.7 percent

Rockwell Automation reported fiscal 2018 fourth quarter sales of $1,729.5 million, up 3.7 percent from $1,667.5 million in the fourth quarter of fiscal 2017.

Gardner Denver acquires DV Systems

Gardner Denver Holdings has acquired DV Systems Inc., a manufacturer of rotary screw and piston compressors and associated aftermarket parts.

Kennametal sales up 8 percent

Kennametal reported sales of $587 million for its fiscal 2019 first quarter, compared with $542 million in the prior year quarter.

Emerson 4Q sales up 10 percent

Emerson said that strong global demand drove a 10 percent increase in fourth quarter net sales of $4.9 billion.

Fastenal October sales up by 17.5 percent

Fastenal reported sales of $469.8 million in October, a 17.5 percent increase from $399.7 million in October 2017.

Holladay receives coveted PTDA award

Ellen Holladay, senior vice president and chief information officer at Motion Industries, was named recipient of the 2018 PTDA Foundation’s Wendy B. McDonald Award.

NOW Inc. revenues up 18 percent

Revenue at NOW Inc. was $822 million for the third quarter of 2018, up 18 percent year over year.

DXP Enterprises sales climb 22.3 percent

DXP Enterprises reported that its third-quarter sales increased 22.3 percent to $308.0 million, compared to $251.9 million for the third quarter of 2017.

Radiac launches superabrasives stocking program

Radiac Abrasives announced a new superabrasive stocking program including a Tool Room Superabrasive Assortment and VNX2 wheels, which are in stock and available to ship within 48 hours.

Applied Industrial Technologies acquires Fluid Power Sales

Applied Industrial Technologies has acquired Fluid Power Sales, a manufacturer and distributor of fluid power components, specializing in the engineering and fabrication of manifolds and power units.

Grainger appoints chief human resources officer

Grainger has appointed Kathleen S. Carroll as senior vice president and chief human resources officer (CHRO), effective Dec. 3.

PIP Global acquires Hearos

PIP Global Inc. announced the acquisition of California-based Hearos LLC, along with its recognized brands of hearing protection.

Manufacturing employment rises in October

Factory employment increased by 32,000 in October, while the construction industry added 30,000 jobs.

RBC Bearings sales rise 5.2 percent

RBC Bearings posted net sales for the second quarter of fiscal 2019 of $172.9 million, an increase of 5.2 percent from $164.3 million in the second quarter of fiscal 2018.

Kaman Distribution sales up 6.8 percent

Kaman Corporation reported that sales at Kaman Industrial Technologies were $285.9 million for the third quarter, 6.8 percent higher than $267.6 million in the same period last year.

Weiler rebrands European division

Weiler Abrasives Group announced the rebranding of the European division of the company.

Industrial Supply Co. acquires Paxton Production Tools

Salt Lake City-based Industrial Supply Company announced its acquisition of Paxton Production Tools, a distributor of cutting tools in the region since 1956.

Manufacturing expansion slows in October

Manufacturing expanded in October as the PMI registered 57.7 percent, a decrease of 2.1 percentage points from the September reading of 59.8 percent.

CenterOak acquires GNAP

CenterOak Partners, a Dallas-based private equity firm, has completed a majority recapitalization of GNAP, a specialty distributor of industrial abrasive products, equipment, specialty ceramics and ancillary services.

Third-quarter productivity up 2.2 percent

Productivity increased 2.2 percent during the third quarter of 2018, the U.S. Bureau of Labor Statistics reported today.

WESCO reports 3.4 percent sales increase

WESCO International said its net sales were $2.1 billion for the third quarter of 2018, an increase of 3.4 percent compared to $2.0 billion in last year's third quarter.

IDCO member sales up 27 percent

IDCO announced that its year-to-date member incentive growth is 43 percent over 2017 on 27 percent sales growth.