October 2020 News

NetPlus Alliance names award winners
NetPlus Alliance hosted 550 distributor and supplier attendees from more than 230 companies at its seventh Annual Meeting Oct. 12-23 on the newly launched BlueVolt platform.

MRC Global sales fall 38 percent
MRC Global's third-quarter sales of $585 million fell by 38 percent compared to $942 million in the third quarter of 2019.

RBC Bearings sales fall 19.6 percent
RBC Bearings said its net sales for the second quarter of fiscal 2021 were $146.3 million, a decrease of 19.6 percent from $181.9 million in the second quarter of fiscal 2020.

Evans named co-chair of Industrial Supply board
Industrial Supply Company announced that Randy Evans has been appointed co-chair of the company’s board.

Pandemic Revenue Index shows 6.8 percent gain
Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Oct.19-23 indicated a 6.8 percent increase compared with the same week a year ago.

Timken Company sales decline 2.1 percent
The Timken Company reported third-quarter 2020 sales of $894.6 million, down 2.1 percent from the same period a year ago.

Lawson Products 3Q sales decline 4.7 percent
Third-quarter sales of $90.3 million for Lawson Products declined 4.7 percent from $94.8 million in 2019.

Columbus McKinnon sales fall 24 percent
Columbus McKinnon Corp. reported fiscal second-quarter net sales of $157.8 million, a 24 percent decline from $207.6 million in the same period last year.

Epicor announces Prophet 21 update
Epicor Software Corporation announced the 2020.2 release of its Prophet 21 solution.

Mayhew adds national account manager
Mayhew Steel Products has named Beth Lawless national account manager, responsible for developing and maintaining named, national, and key account relationships.

MSC’s focus is to grow profits faster than sales

By Rich Vurva

While most manufacturing markets remain soft but are showing improvement, MSC is turning its focus to growing profits faster than sales. The company has adopted a five-step strategy to reposition MSC from a spot buy supplier to a mission critical partner on the plant floor of industrial customers.

Applied Q1 2021 sales decline 12.7 percent
Applied Industrial Technologies reported net sales for its fiscal 2021 first quarter decreased 12.7 percent to $747.8 million from $856.4 million in the prior year.

Systemax Inc. sales climb 17.1 percent
Systemax Inc., the parent company for Global Industrial, reported third-quarter net sales inceased by 17.1 percent to $285.7 million.

Tofino partners with OptiCrib on IoT Storeroom management
Tofino Software, an e-procurement and MRO management software company, announced its global partnership with OptiCrib LLC.

MSC ends year on 11.3 percent sales decline
Fourth-quarter net sales declined 11.3 percent to $747.7 million for MSC Industrial Supply.

3M sales grew by 4.5 percent
3M reported third-quarter sales of $8.4 billion, up 4.5 percent year-on-year.

ISD elects new board
The International Sealing Distribution Association (ISD) introduced its new board of directors.

Chicago Fed National Activity Index declined
The Chicago Fed National Activity Index (CFNAI) declined to +0.27 in September from +1.11 in August.

PTDA Warren Pike and Wendy B. McDonald award winners
The Power Transmission Distributors Association announced the winners of its two most prestigious awards during the PTDA Virtual Industry Summit.

Barnes Group sales decline 28 percent
Barnes Group reported third-quarter net sales of $269 million, down 28 percent from $373 million in the prior year period.

NAW's Hoplin calls distributors unsung heroes
In a newly released video, Eric Hoplin, the new CEO of the National Association of Wholesaler-Distributors, said the industry is among the unsung heroes of 2020.

SBP Holding completes refinancing 
SBP Holding L.P. has completed a refinancing transaction co-led by Atlantic Park Strategic Capital Fund and The Carlyle Group’s Global Credit platform.

Snap-on sales rise 4.4 percent
Snap-on reported net sales of $941.6 million in the third quarter of 2020 increased 4.4 percent from 2019 levels.

Grainger 3Q sales up 2.4 percent
Grainger reported third-quarter sales of $3.0 billion, up 2.4 percent compared to the third quarter 2019.

Genuine Parts Company sales decline 3.4 percent
Genuine Parts Company reported sales of $4.4 billion in the third quarter decreased 3.4 percent compared to $4.5 billion in the same period of the prior year.

SureWerx acquires Geroline
SureWerx, a manufacturer of safety products, tools and equipment, has acquired Geroline Inc., maker of the K1 Series brand of mid-sole winter traction aids.

Pandemic Revenue Index shows 2.6 percent gain
Indian River Consulting Group’s weekly Pandemic Revenue Index for the work week of Oct.12-16 indicated a 2.6 percent increase compared with the same week a year ago.

Wildeck names new VP of operations
Wildeck Inc. has hired Steve Holland as the new vice president of operations, responsible for managing the day-to-day operations of Wildeck’s multi-site manufacturing facilities and quality initiatives.

U.S. cutting tools consumption declined in August
August 2020 U.S. cutting tool consumption totaled $136.1 million, down 0.2 percent from July's $136.3 million and down 33.5 percent compared with the $204.7 million reported for August 2019.

Optimas Solutions opens St. Louis DC
Optimas Solutions has opened a facility in St. Louis to handle the U.S. distribution of a new line of manufacturing consumable products focusing on personal protective equipment (PPE) and maintenance, repair, and operations (MRO).

Champion Cutting Tool acquires Mercer Industries
Champion Cutting Tool Corp., a 123-year-old supplier of high-performance metal and concrete cutting tools to the industrial market, has acquired Mercer Industries, a supplier of coated and bonded abrasives.

Pelican Products names CIO
Pelican Products has named Lance Ralls chief information officer.

Rockwell Automation CFO to depart company
Rockwell Automation chief financial officer, Patrick Goris, plans to leave the company to accept a CFO role at Carrier Global Corporation.

Optimas Solutions names Strandquist CEO
Optimas Solutions, a global manufacturer and distributor of industrial fasteners and supply chain solutions, promoted president of the Americas Marc Strandquist to chief executive officer.

Industrial production fell 0.6 percent in September
Industrial production fell 0.6 percent in September, its first decline after four consecutive months of gains.

Optimas Solutions launches Standard Fastener program
Optimas Solutions has launched a Standard Fastener program that offers on-demand access to common screws, washers, and nuts for maintenance, repair, and production applications.

Kimball Midwest opens Dallas distribution center
Kimball Midwest has opened a larger distribution center in the Dallas area to serve customers in nine states.

Weekly Pandemic Revenue Index declines 0.4 percent
Continuing the pattern of relatively flat conditions that began in August, the weekly Pandemic Revenue Index for the work week of Oct.5-9 indicated a 0.4 percent decrease compared with the same week a year ago.

Overdrive Tech Group opens Phoenix headquarters

by Rich Vurva

While other distributors have spent the last several months figuring out the long-term implications of the COVID-19 pandemic on their businesses, Jeff Overby decided to launch a new distribution company.

Force Control Industries adds regional manager
Force Control Industries announced the addition of Dilon Altwegg as regional manager in the Southwest region.

Safety products sales drive 3Q gain at Fastenal 
Sales of safety products helped Fastenal achieve a 2.5 percent sales increase in the third quarter.

Manufacturing technology orders declined in August
U.S. manufacturing technology orders totaled $297.7 million in August 2020, a decrease of 11.5 percent from July and a 21.7 percent decrease from August 2019.

NetPlus Alliance announces strategic reorganization
NetPlus Alliance has restructured the NetPlus team and named several staff promotions.

Weekly Pandemic Revenue Index increases by 4.8 percent
The weekly Pandemic Revenue Index for the work week of Sept. 28-Oct. 2 indicated a 4.8 percent increase compared with the same week a year ago.

Endries International acquires K&L Sales
Endries International Inc. has acquired K&L Sales Inc. based in Hartland, Wisconsin.

Entegra Attachments acquires Bloom Manufacturing
Entegra Attachments has acquired Bloom Manufacturing, a 110-year-old manufacturer of standard and custom designed hydraulic winches, speed reducers, parts and accessories.

Applied acquires Advanced Control Solutions
Applied Industrial Technologies has acquired Advanced Control Solutions, a provider of automation products, services, and engineered solutions.

Winsupply acquires Avon Supply Co.
Winsupply Inc. has acquired substantially all the assets of Avon Supply Co., a plumbing and heating wholesale distributor primarily serving the greater Boston market.

BlackHawk Industrial acquires D&L Industrial
BlackHawk Industrial has acquired D&L Industrial Supply, a cutting tools distributor based in Irwin, Pennsylvania, that serves the Southwestern Pennsylvania market.

RBC Bearings makes executive changes
RBC Bearings appointed Robert M. Sullivan as vice president and chief financial officer, replacing Daniel A. Bergeron, who will become VP and chief operating officer.

Home Depot names new president and COO
The Home Depot has named Edward “Ted” P. Decker president and chief operating officer, effective Oct. 5.

Manufactured goods orders increased in August
New orders for manufactured goods increased 0.7 percent in August to $470.1 billion, marking the fourth month of consecutive gains, the U.S. Census Bureau reported today.

Manufacturing employment grew during September
Manufacturers continued to add jobs as the industry recovers from the pandemic-imposed shutdown that started in March.

Manufacturing growth slowed in September
Manufacturing grew in September, as the Institute for Supply Management monthly index registered 55.4 percent, 0.6 percentage point lower than the August reading of 56 percent.

Construction spending rose in August
Construction spending during August 2020 was estimated at a seasonally adjusted annual rate of $1,412.8 billion, 1.4 percent above the revised July estimate of $1,392.7 billion.

Slight decrease for Weekly Panemic Revenue Index
Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Sept. 21-25 indicated a 0.7 percent decrease compared with the same week a year ago.