April 2016 News

H.B. Fuller acquires Advanced Adhesives
H.B. Fuller Company has finalized its previously announced purchase of Advanced Adhesives, a provider of industrial adhesives in Australia and New Zealand.

NOW Inc. to acquire Power Service
NOW Inc. has entered into an agreement to purchase Power Service Inc.

Eaton sales fall by 8 percent
Eaton Corporation reported sales in the first quarter of 2016 were $4.8 billion, 8 percent lower than the same period in 2015.

Praxair earnings down 14.4 percent
Praxair reported first-quarter net income of $356 million, a 14.4% decline from $416 million in the same period last year.

NAW Institute for Distribution Excellence elects new chairman
Directors of the NAW Institute for Distribution Excellence, the long-range research arm of the National Association of Wholesaler-Distributors (NAW), elected a new chairman and three new directors.

Lawson Products sales flat for quarter
Lawson Products reported net sales for the first quarter of 2016 were $69.7 million versus $69.9 million a year ago.

Applied Industrial Technologies reports loss
Applied Industrial Technologies reported net sales for its fiscal third quarter were $633.2 million, a decrease of 6.9% compared with $680.0 million in the same quarter a year ago.

WESCO International income slides 23.4 percent
WESCO International reported that net income of $36.0 million for the current quarter was down 23.4% from $47.0 million for the prior year quarter.

HD Supply to sell Interior Solutions business
HD Supply announced it has entered into a definitive agreement to sell its HD Supply Interior Solutions business unit to Interior Specialists Inc.

Wajax acquires Wilson Machine
Wajax, a Canadian industrial products distributor and service provider, has acquired the assets of Montreal-based Wilson Machine Co. Ltd.

Rockwell Automation sales fall 7.1 percent
Rockwell Automation reported fiscal 2016 second quarter sales of $1.44 billion, down 7.1 percent from $1.55 billion in the second quarter of fiscal 2015.

Motion Industries to buy Colmar Belting
Motion Industries has entered into a definitive agreement to acquire Colmar Belting Company.

Timken sales down 5 percent
The Timken Company reported sales of $684 million for the first quarter of 2016, approximately 5 percent lower than the same period a year ago.

Parker sees 11 percent sales decline
Parker Hannifin said its fiscal 2016 third quarter sales decreased 11% to $2.83 billion compared with $3.16 billion in the same quarter a year ago.

Ingersoll Rand sales up slightly
Ingersoll Rand reported net earnings of $152.4 million, or 58 cents per share, for the first quarter of 2016.

3M 1Q earnings rise but sales decline
3M reported first-quarter earnings of $2.05 per share, an increase of 10.8 percent versus the first quarter of 2015.

Sandvik posts 7 percent sales decline
Sandvik reported sales of SEK 19.7 billion ($2.4 billion) for the first quarter, a decline of 7 percent from SEK 21.9 billion ($2.7 billion) in the same period last year. 

Genuine Parts Co. names new CEO
Genuine Parts Company announced that Paul D. Donahue will become president and chief executive officer, effective May 1.

PIP names national account manager
Protective Industrial Products announced the appointment of Samantha Robbins as a national account manager.

North American Tool celebrates 30 years
North American Tool Corporation, a manufacturer of special taps, threading dies and thread gages, is celebrating its 30 year anniversary.

ISA members report mixed March
The April ISA Economic Indicator Report (EIR) from the Industrial Supply Association showed mixed results among manufacturers and distributors in March.

Praxair acquires five distributors
Praxair announced that it has acquired five industrial gas businesses with combined 2015 annual sales of more than $40 million.

Snap-on sales flat
Snap-on Incorporated reported first quarter sales of $834.2 million increased 0.8% from 2015 levels.

March growth below average
The Chicago Fed National Activity Index edged down to –0.44 in March from –0.38 in February.

Essendant sales up 1.5 percent
Essendant Inc. reported that first quarter sales increased by 1.5 percent to $1.35 billion, compared to $1.33 billion in the same period last year.

ITW sales decline 2 percent
Illinois Tool Works reported that total first quarter revenue was $3.3 billion, a decline of 2 percent due to the impact of foreign currency.

PTDA welcomes five new members
The Power Transmission Distributors Association (PTDA) recently welcomed five new member companies, including one new distributor and four manufacturers.

Industrial production dropped in March
Industrial production decreased 0.6 percent in March for a second month in a row.

Epicor expands cloud-first focus
Epicor Software Corporation announced the expansion of its cloud-first focus to enable distributors to embrace digital transformation strategies.

Mincron Software names marketing manager
Mincron Software Systems, a provider of ERP distribution management solutions for durable goods wholesalers, recently appointed Mary Jo Martin as marketing manager for Mincron.

Rockwell Automation names new president/CEO
Rockwell Automation announced that Blake D. Moret, a 30-year veteran of the company, was named president and chief executive officer, effective July 1.

Motion Industries sales fall 2.5 percent
Sales at Motion Industries were $1.15 billion, down 2.5% from $1.18 billion in the same period last year.

Grainger Q1 sales climb 3 percent
Grainger reported first-quarter sales of $2.5 billion increased 3 percent versus $2.4 billion in the first quarter of 2015.

Quincy Compressor acquires Scales Industrial Technologies
Atlas Copco’s U.S.-based Quincy Compressor LLC has acquired Scales Industrial Technologies Inc.

Motion Industries relaunches motor specialist website
Motion Industries announced the relaunch of its knowledge website:

Walter Surface Technologies publishes white paper
Walter Surface Technologies has published a new industry white paper titled “The Internet of Things Hits the Shop Floor: Metalworking in the Age of Connectivity.”

Tour de Force releases cloud offering
Tour de Force Inc. announced the release of Tour de Force Cloud.

Duracell Professional now part of Berkshire Hathaway
Duracell Professional announced that it began operating under the new Duracell Company, an independent, wholly-owned subsidiary of the Berkshire Hathaway Company, effective March 1.

Fastenal posts lower earnings but higher sales

By Rich Vurva, Editor/Publisher, Industrial Supply magazine

Fastenal reported sales in the first quarter 2016 increased by 3.5 percent to $986.7 million, compared to sales of $953.3 million in the same period last year. Net earnings, however, declined by 1.1 percent for the period, to $126.2 million from $127.6 million in the first quarter of 2015.

Cutting tool consumption down in February
February U.S. cutting tool consumption totaled $173.38 million according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology.

Allied Machine celebrates 75 years
Allied Machine & Engineering Corp., a manufacturer of holemaking and finishing tooling systems, is celebrating 75 successful years of product and industry innovation.

Actuant names Energy Segment EVP
Actuant Corporation announced the appointment of Kenneth C. Bockhorst as executive vice president, Energy Segment.

Fastenal sales up by 3.5 percent
Fastenal Company reported first quarter sales of $986.7 million increased by 3.5 percent from $953.3 million in the same period last year.

F.W. Webb makes acquisition, celebrates 150 years
The F.W. Webb Company announced the acquisition of State Line Supply in Seabrook, N.H.

Manufacturing technology orders fall
The latest U.S. Manufacturing Technology Orders report shows that February orders dropped 5.1% compared to January, and 12.8% compared to February 2015.

Airgas reorganizes South distribution region
Airgas announced the reorganization of its South distribution region, effective May 1, into two separate regions.

Drillco names Central States director of sales
Drillco Cutting Tools has named Randy Beck as a new director of sales.

H.B. Fuller appoints CFO
H.B. Fuller Company announced that John Corkrean will join the company as executive vice president and chief financial officer on May 17, 2016.

Jason Industries names new president
Jason Industries Inc. announced that Brian K. Kobylinski is joining the company as president and chief operating officer.

WD-40 sales down 3 percent
WD-40 Company reported net sales for the second quarter were $94.6 million, a decrease of 3 percent compared to the prior year fiscal quarter.

MSC sees e-commerce growth

by Rich Vurva, Editor, Industrial Supply magazine

Despite a sales decline of 3.2% in its most recent quarter, e-commerce sales improved for MSC Industrial Supply Co.

Cline Tool announces new salespeople
Cline Tool recently announced the addition of two new sales positions.

Sales declined 3.2 percent for MSC
MSC Industrial Supply reported net sales of $684.1 million for the second quarter, a decline of 3.2% year-over-year.

H.B. Fuller to acquire Advanced Adhesives
H.B. Fuller Company has signed an agreement to purchase Advanced Adhesives, a provider of industrial adhesives in Australia and New Zealand.

Winsupply acquires K&J Supply
Winsupply Inc. has purchased majority ownership of K&J Supply, Pensacola, Fla., a distributor of industrial pipe, valves and fittings that serves the Gulf Coast.

Kyocera to acquire SGS Tool
Kyocera Corporation announced that it has completed a share purchase agreement to acquire SGS Tool Company of Munroe Falls, Ohio.

Continental Abrasives names national sales manager
Continental Abrasives announced the hiring of Frank Humphreys as national sales manager.

Harrington Hoists makes two executive appointments
Harrington Hoists Inc. announced the promotion of two key executives.

CBT acquires FDL Automation
CBT Co. (formerly Cincinnati Belting & Transmission) has acquired FDL Automation & Supply Company, a locally owned electrical distributor based in Sidney, Ohio.

Manufacturing expanded in March
Economic activity in the manufacturing sector expanded in March for the first time in the last six months, according to the latest Manufacturing ISM Report On Business.

Würth Group acquires House of Threads
The Würth Group announced the acquisition of House of Threads, based in Birmingham, Ala.

Construction spending dipped in February
Construction spending during February 2016 was estimated at a seasonally adjusted annual rate of $1.14 trillion, 0.5 percent below the revised January estimate of $1.15 trillion.

Construction employment up, manufacturing jobs down
Total nonfarm payroll employment rose by 215,000 in March, and the unemployment rate was little changed at 5.0 percent, the U.S. Bureau of Labor Statistics reported today.