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Distribution Industry News

Index shows economic growth in June

Led by increases in production-related indicators, the Chicago Fed National Activity Index moved up to +0.13 in June from –0.30 in May.

Lawson Products sales increase by 8.2 percent

Lawson Products said its second quarter sales increased 8.2 percent to $75.0 million, compared to $69.3 million a year ago.

WESCO International earnings flat

WESCO International reported net income of $49.5 million, or $1.02 per share, for the second quarter.

Lafert North America adds to sales team

Lafert North America, a manufacturer of metric AC Motors, metric gearboxes and coolant pumps, announced two appointments to its sales team.

Essendant revenues decline by 6.9 percent

Essendant Inc. reported a 6.9 percent decline in revenue to $1.3 billion, compared to $1.4 billion in the prior year quarter.

Rockwell Automation sales up 8.5 percent

Rockwell Automation reported fiscal 2017 third quarter sales of $1.6 billion, up 8.5 percent from $1.5 billion in the third quarter of fiscal 2016.

Timken sales up 11.4 percent

The Timken Company reported second-quarter 2017 sales of $750.6 million, up 11.4 percent from the same period a year ago and up 6.6 percent from the first quarter.

DXP Enterprises sales decline 2.2 percent

DXP Enterprises reported sales of $250.7 million declined 2.2 percent compared to $256.2 million in the second quarter of 2016.

Ingersoll Rand sales up 6 percent

Ingersoll-Rand plc reported second-quarter revenues of $3.9 billion were up 6 percent from $3.7 billion in the same period last year.

Airline Hydraulics achieves ISO 9001:2015 Certification

Airline Hydraulics Corporation, a regional supplier of fluid power, automation, electrical control, and safety products and engineered systems, has received ISO 9001:2015 certification.

3M sales up 1.9 percent

3M reported sales of $7.8 billion for its second quarter, up 1.9 percent, with positive growth across all five business groups.

ITW revenue up 4.9 percent

Illinois Tool Works reported second-quarter revenue grew 4.9% to $3.6 billion.

Stanley Black & Decker sales up 10 percent

Stanley Black & Decker said its second quarter net sales were $3.2 billion, up 10% versus prior year.

FPDA and ISD Joint Summit to feature new panel discussion

Participants at the FPDA/ISD Joint Industry Summit will have a chance to hear a panel discussion on the new NAW and IBM trend report.

SKF sales up 7.5 percent

SKF reported net sales of SEK 20.2 billion ($2.45 billion) for the second quarter, an organic increase of 7.5 percent compared to the second quarter last year.

Codifyd Opens Digital Agency and AI Center in Mumbai

Codifyd, a provider of B2B digital commerce and transformation solutions, announced the launch of a state-of-the-art digital agency and artificial intelligence lab in Mumbai.

Motion Industries to acquire Numatic Engineering

Motion Industries has entered into a definitive agreement to acquire Numatic Engineering, headquartered in Los Angeles.

Snap-on sales up 5.6 percent

Snap-on Incorporated reported net sales of $921.4 million increased 5.6 percent from 2016 levels in the second quater.

Private equity group to acquire JPW Industries

JPW Industries Inc. has reached an agreement to be acquired by funds managed by Gamut Capital Management of New York.

Motion Industries sales rise 7.3 percent

Motion Industries had sales of $1.25 billion for the second quarter, a 7.3 percent increase from $1.26 billion in the same period last year.

Slower growth in June for ISA members

The July ISA Economic Indicator Report (EIR) from the Industrial Supply Association showed that manufacturers and distributors experienced slower growth during June.

Grainger profits tumble in Q2

Grainger reported net earnings for the second quarter of $98 million were down 43 percent versus $173 million in 2016.

H.B. Fuller to acquire Adecol

H.B. Fuller Company has signed an agreement to purchase adhesives company, Adecol Ind. Química, Limitada, a manufacturer of adhesive technologies in Brazil.

AWISCO acquires Nyrock Machine and Tool

AWISCO, a supplier of welding, safety, industrial supplies and industrial gases in the New York tri-state area, announced the acquisition of Nyrock Machine and Tool Corp., Nyack, New York.

Winsupply names company of the year

Winsupply named Santa Fe Springs Winwater its 2016 Company of the Year.

Investors file lawsuits against HD Supply

Several law firms have filed class action lawsuits againt HD Supply, alleging the company provided misleading information to investors surrounding its sales of HD Supply Waterworks.

Hydraulic Supply acquires Fabacher

Hydraulic Supply Company, a fluid power distributor of hydraulic, pneumatic, and industrial products, has acquired Fabacher Incorporated.

June industrial production rose 0.4 percent

Industrial production rose 0.4 percent in June for its fifth consecutive monthly increase.

Kaman names automation segment VP

Kaman Distribution Group announced the appointment of Jeff Ames as vice president, general manager of its Automation platform.

DDI System qualifies for ISSA award

DDI System has qualified as a finalist in the 2017 ISSA Innovation Award program with Inform Engage.

Forney Industries retains Creeden & Associates

Forney Industries, a welding and metalworking company based in Ft. Collins, Colorado, has retained Chicago-based Creeden & Associates to support Forney’s aggressive sales goals.

Bolts & Nuts Corp. acquires Industrial Fastening of Macon

Chattanooga-based Bolts & Nuts Corp. announced it has acquired Industrial Fastening of Macon, based in Macon, Georgia.

NN Inc. to sell Precision Bearings Components Group

NN Inc. has entered into a definitive agreement to sell its Precision Bearing Components Group to Tsubaki Nakashima Co. Ltd., for $375 million in cash.

Pearson Fastener achieves IATF certification

Pearson Fastener has achieved 16949:2016 First Edition Certification from the International Automotive Task Force (IATF) as a supplier of high-quality custom fasteners to automotive manufacturers.

Knipex opens new headquarters

Knipex Tools LP moved its headquarters to Buffalo Grove, Illinois, from its previous headquarters in Arlington Heights, Illinois.

May cutting tool consumption rises

May U.S. cutting tool consumption totaled $191.93 million, 14.2 percent higher than April’s $168.03 million.

IWDC members achieve record spend in June

Welding distributor cooperative IWDC reported that the spend among member companies through the co-op exceeded $21 million in June.

MSC sales grow by 2.3 percent

MSC Industrial Supply reported quarterly net sales of $743.9 million, an increase of 2.3 percent from $727.5 million in the same quarter last year.

Mayhew Tools names VP of sales and marketing

Mayhew Steel Products announced that Eric Mills rejoined the company as vice president of sales and marketing.

Riverside Tool acquires General Saw

Riverside Tool Corp. has acquired General Saw Corp., a manufacturer of carbide-tipped saw blades for plastics and wood.

Fastenal sales climb 10.6 percent in quarter

Growth in industrial vending business and in new and existing onsite locations drove a 10.6 percent sales gain for Fastenal in the second quarter.

DPA Buying Group names award winners

The DPA Buying Group announced the winners of its industrial distributor and supplier of the year awards and its industrial excellence award.

Haggard & Stocking to expand Evansville facility

Indianapolis-based Haggard & Stocking plans to expand its Evansville, Indiana-based Imperial Fastener and Industrial Supply.

WD-40 sales up 2 percent in 3Q

WD-40 Company reported net sales for the third quarter were $98.2 million, an increase of 2 percent compared to the prior year fiscal quarter.

Bridgestone HosePower to acquire Fittings Inc.

Bridgestone HosePower, a wholly-owned indirect subsidiary of Bridgestone Corporation, announced that it is acquiring Fittings Inc., a hydraulic and industrial hose sales and service company based in Seattle.

Manufacturing technology orders gained in May

The U.S. Manufacturing Technology Orders report for May 2017 showed gains for the month and year over year.

GHX Industrial to move into new headquarters

GHX Industrial will consolidate four Houston area locations into a new location in Lockwood Business Park, part of a commercial development called Generation Park in Northeast Houston.

Standard Locknut names new VP sales and marketing

David White has joined Standard Locknut as vice president of sales and marketing.

Mining, construction and manufacturing jobs added in June

Employment increased by 222,000 in June, and the unemployment rate edged up to 4.4 percent, the U.S. Bureau of Labor Statistics reported today.

Applied introduces 2017/2018 product catalog

Applied Industrial Technologies announced the availability of its new 2017/2018 Applied product catalog with nearly 31,000 industrial and maintenance products.

Heule Tool names national sales manager

Heule Tool Corporation announced the promotion of William “Bill” Hargrove to national sales manager.

Home Depot to buy Compact Power Equipment

The Home Depot announced a definitive agreement to purchase Compact Power Equipment Inc., a national provider of equipment rental and maintenance services, for $265 million in cash.

Winsupply opens Arizona location

Winsupply Inc. opened a new location in Tempe, Arizona, serving the fire sprinkler and fabrication industries in the Phoenix metropolitan area.

Brady acquires Walter Industrial & Sanitary Supply

Brady, a full-line janitorial supply, equipment and foodservice distributor, announced the acquisition of the Denver, Colorado operations of Walter Industrial & Sanitary Supply.

Manufactured goods orders down in May

New orders for manufactured goods decreased 0.8 percent to $464.9 billion in May, the U.S. Census Bureau reported today.

Timken to acquire ABC Bearings

The Timken Company announced that its majority-owned subsidiary, Timken India Ltd., has agreed to acquire ABC Bearings Ltd., a manufacturer of tapered, cylindrical and spherical roller bearings, and slewing rings in India.

Construction spending flat in May

Construction spending during May was estimated at a seasonally adjusted annual rate of $1,230.1 billion, flat compared to the revised April estimate of $1,230.4 billion.

Manufacturing activity increased in June

Economic activity in the manufacturing sector expanded in June, reaching its highest level in three years.

Evergreen board and supplier advisory council take office

The Evergreen Marketing Group announces its new board of directors and supplier advisory council effective July 1.

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