November 2016 News
Industrial Supply Co. provides 97,708 meals to Utah families
Industrial Supply Company recently presented a check for $25,000 to the Utah Food Bank.
Real gross domestic product increased at an annual rate of 3.2 percent in the third quarter of 2016, according to the second estimate released by the Bureau of Economic Analysis.
Generac Holdings Inc. announced the signing of an agreement to acquire Motortech Holding GmbH & Co. KG.
The November ISA Economic Indicator Report (EIR) from the Industrial Supply Association showed that the Manufacturer Index and the Distributor Index both moved higher during the month of October.
FCX Performance, a specialty flow control distributor serving the industrial process, energy and high purity industries, has completed the acquisition of PCI-llc based in Raleigh, North Carolina.
The PTDA Business Index for the third indicates slower growth, with a reading of 46.9, slightly lower than the 50.4 reading in the second quarter.
Hydraulic Supply Company announced the opening of its first international Eaton Aeroquip retail store, under the name HSC Hydraulics de Mexico, in Monterrey, Mexico.
Hardware Distribution Warehouses Inc. has acquired the retail distribution business of World and Main LLC’s Houston division, formerly known as Handy Hardware.
Warehouse control and execution software and services provider, QC Software Inc., has been awarded the Lifetime Platinum Status award from ConnectShip │iShip, a principal supplier of on and off-premise multi-carrier logistics solutions.
The Chicago Fed National Activity Index increased to –0.08 in October from –0.23 in September.
Jason Industries announced that Brian K. Kobylinski will transition to the role of president and chief executive officer, effective Dec. 1.
Actuant Corporation announced the hiring of Rick Dillon as executive vice president and chief financial officer.
Continental announced that its St. Marys, Ohio, plant recently received the Ambassador of Energy Efficiency award from Efficiency Smart.
FEIN US named Attila Madarasz as president and CEO in charge of all U.S. operations.
Snap-on Incorporated announced that it has acquired Sturtevant Richmont for approximately $13 million in cash.
Carla Wing, a 22-year veteran of Minnesota-based industrial gasket manufacturer American Flexible Products, has been named president and CEO of the 34-employee company.
Rexnord Corporation plans to close its Indianapolis bearings operations and move jobs to Mexico.
Brady Corporation said its fiscal 2017 first quarter net earnings increased 20.6 percent to $22.6 million compared to $18.7 million in the same quarter last year.
Industrial production was unchanged in October after decreasing 0.2 percent in September.
Lawson Products has completed the acquisition of Mattic Industries Limited, a Vancouver-based distribution company.
Manufacturing technology orders for September were up 56 percent compared to August and up 52 percent over September 2015.
DXP Enterprises reported sales were $230.0 million for the third quarter of 2016, down 24.1 percent from $303.1 million in the same period in 2015.
Airmaster, a manufacturer of air circulation and ventilation solutions, announced a new brand structure and new headquarters location.
Grainger reported daily sales were flat in October of 2016 versus October of 2015, driven by a 1 percentage point increase in volume offset by a 1 percent decline in price.
IBC announced the addition of Imperial Fastener & Industrial Supply Co., of Evansville, Indiana, to its alliance of independent distributors and preferred suppliers.
September U.S. cutting tool consumption totaled $171.09 million according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology.
Lawson Products announced plans to close its distribution center in Fairfield, New Jersey by March 2017.
Justrite Safety Group Company announced that it has acquired C.I. Agent Solutions, which offers products and services that deliver technical secondary containment solutions to help solve customers’ environmental risk issues.
NetPlus Alliance, a buying group with more than 375 industrial and contractor supplies distributor members, presented its annual awards to members and suppliers at its third annual meeting in October in San Antonio, Texas, including the Distributor of the Year, Supplier of the Year and the Dan Judge Founder’s Award.
Fastenal reported sales of $335.3 million in October, a 0.8 percent decline from $337.9 million in October 2015.
Construction jobs grew by 11,000 during October, while manufacturers lost 9,000 jobs during the month.
Rexnord Corporation reported net sales were $491 million for its fiscal 2017 second quarter, up 1% year over year from $485.9 million.
RBC Bearings reported net sales for the second quarter of fiscal 2017 were $153.9 million, an increase of 3.5% from $148.7 million in the second quarter of fiscal 2016.
Nonfarm business sector labor productivity increased at a 3.1-percent annual rate during the third quarter of 2016, the U.S. Bureau of Labor Statistics reported today.
New orders for manufactured goods in September increased 0.3 percent to $455.5 billion, the U.S. Census Bureau reported today.
MSC Industrial Supply reported net sales of $745.1 million for the fiscal fourth quarter increased 2.4% year-over-year from $727.4 million in the same quarter last year.
Manufacturing expanded in October according to the latest Manufacturing ISM Report On Business.
Graybar recently reported record net sales for the third quarter of $1.7 billion, a 6.7 percent increase compared to the same period last year.
Construction spending during September was estimated at a seasonally adjusted annual rate of $1.15 trillion, 0.4 percent below August.
AD reported sales for all AD members grew by 6.3% in the quarter year to date to $26.1 billion.
Eaton Corporation reported sales in the third quarter of 2016 were $5.0 billion, down 4 percent from the same period in 2015.
Emerson reported fiscal 2016 sales of $20.2 billion declined 9 percent as the company faced difficult conditions in key served markets, which have continued for seven consecutive quarters.