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April 2014 News

Affiliated Distributors posted 4 percent growth

Affiliated Distributors (AD) reported 4% growth across all AD Divisions in the first quarter to $7.1 billion.

Rockwell Automation sales and earnings rise

Rockwell Automation reported fiscal 2014 second quarter sales of $1.6 billion, up 5 percent from the second quarter of fiscal 2013.

Eaton reports higher earnings

Eaton Corporation announced that sales in the first quarter of 2014 were $5.5 billion, 3½ percent above the same period in 2013.

Parker sales rise but income dips

Parker Hannifin Corporation said its fiscal 2014 third quarter sales increased 2 percent to $3.36 billion compared with $3.31 billion in the same quarter a year ago.

Midway Industrial Supply names Hoolihan president

Midway Industrial Supply announced that Patrick Hoolihan has joined the company as president and CEO.

Kaman Industrial Technologies sales rise

Kaman Industrial Technologies reported that its 1Q sales increased to $264.8 million from $257.1 million in the first quarter of 2013.

Kaman completes B.W. Rogers acquisition

Kaman Corporation has completed its acquisition of B.W. Rogers Company, acting through its subsidiary, Kaman Fluid Power, LLC.

Stanley Black & Decker sales up 7 percent

Stanley Black & Decker reported 1Q net sales were $2.6 billion, up 7% versus the prior year.

Timken Co. earnings rise 6.5 percent

The Timken Company reported first-quarter 2014 sales of $1.1 billion, up 1 percent from the prior-year quarter.

United Stationers income rises

United Stationers announced that net income for the first quarter was $21.9 million, or 55 cents per share, compared with $13.9 million, or 34 cents, in 2013.

Wesco sales up slightly

WESCO International reported first quarter net sales were $1.81 billion, compared to $1.80 billion for the first quarter of 2013, an increase of 0.2%.

3M earnings up 11.2 percent

3M reported first-quarter earnings of $1.2 billion, or $1.79 per share, on sales of $7.8 billion.

Lawson Products sales up 3 percent

Lawson Products said that its first quarter sales increased 3.0% to $69.2 million, compared to $67.2 million in the first quarter a year ago.

Lincoln Electric sales and earnings fall

Lincoln Electric reported 1Q net income fell by 15.4% to $56.5 million, or 69 cents per diluted share, compared to $66.8 million, or 80 cents, in the same period last year.

Praxair income rises by 8 percent

Praxair reported first-quarter net income rose by 8% to $448 million on sales of $3.02 billion.

WayPart offers distributors cross-reference service

WayPart Inc., an industrial parts search engine with over 26 million parts in its database, now offers cross-reference services to the internal staff of industrial supply distributors.

ITW revenues up by 4 percent

Illinois Tool Works Inc. reported first quarter 2014 revenues grew 4 percent to $3.6 billion.

Motion Industries sales up nearly 4 percent

Motion Industries sales totaled $1.14 billion for the first quarter, 4 percent higher than $1.10 billion reported in the same period last year.

Drillco Cutting Tools adds Director of Sales

Drillco Cutting Tools, Baton Rouge, La., appointed Michael Howcroft as director of sales, USA.

Sales app for industrial salespeople

Showcase, a division of web and app developer Logic Solutions Inc. in Ann Arbor, Mich., announced that Cathy Veri of Marketecture has joined as a channel partner for the Showcase Sales app.

Chicago Fed National Activity Index decreased

Led by declines in production-related indicators, the Chicago Fed National Activity
Index decreased to +0.20 in March from +0.53 in February.

Milwaukee Tool to acquire Empire Level

Empire Level president Jenni Becker released a statement this morning that Mukwonago, Wis.-based Empire Level has entered into a letter of intent to be acquired by Milwaukee Tool.

Snap-on sales rise 6.2 percent

Snap-on Incorporated said its first quarter sales increased 6.2% to $787.5 million from 2013 levels.

ISA members in growth mode

Business is good for manufacturer and distributor members of the Industrial Supply Association according to the recent ISA Economic Indicator Report (EIR).

Manufacturing prospects look good

Despite some concerns with current business conditions, near-term prospects for the manufacturing sector look bright.

Factory activity picks up

Industrial production increased 0.7 percent in March after having advanced 1.2 percent in February.

Grainger sales up 5 percent

Grainger reported first quarter sales of $2.4 billion increased 5 percent versus $2.3 billion in the first quarter of 2013.

Atlas Copco acquires two compressor makers

Atlas Copco’s U.S.-based Quincy Compressor has agreed to acquire the compressor business of National Pump & Compressor Ltd. and McKenzie Compressed Air Inc.

Stellana names new sales exec

Stellana U.S. Inc., a global manufacturer of molded polyurethane, wheels and tires and unique casted parts, named Damian Gouff as general industrial sales manager.

Saint-Gobain picks new North American headquarters

Saint-Gobain announced plans for a new North American corporate headquarters in Malvern, Pa.

Feb. manufacturing technology orders decline

February U.S. manufacturing technology orders totaled $354.40 million, down 6.2% compared to February 2013.

NetPlus Alliance names award winners

NetPlus Alliance announced several award winners at the buying group's first annual meeting in mid-March at the M Resort in Henderson, Nev.

Fastenal sales up 8.7 percent

Fastenal reported sales of $876.5 million for the first quarter, 8.7% higher than the $806.3 million reported in the same period last year.

U.S. cutting tool consumption falls

February U.S. cutting tool consumption totaled $157 million, according to the U.S. Cutting Tool Institute and AMT – The Association For Manufacturing Technology.

MSC sales climb 16.2 percent

MSC Industrial Direct reported net sales for the fiscal second quarter 2014 were $661.5 million, an increase of 16.2% over the same quarter a year ago.

AD expands into Latin America

Affiliated Distributors (AD) announced it has expanded into the Latin American market.

Kwasny to lead PFERD Tool Mobile program

Jeffrey R. Kwasny has been appointed to implement PFERD's Tool Mobile program in North America.

WD-40 2Q sales up 9 percent

WD-40 Company reported net sales for the second quarter increased 9% to $94.2 million compared to the second quarter last fiscal year.

Grainger offers public safety scholarships

Grainger expanded its Grainger Tools for Tomorrow scholarship program to offer financial assistance to qualified students enrolled in public safety programs.

Blackstone to acquire Gates Corp.

Private equity funds managed by Blackstone entered into a definitive purchase agreement to acquire the parent company of the Gates Corporation for $5.4 billion.

IWDC supports military foundation

In recognition of its 20th anniversary of incorporation, welding distributor cooperative IWDC is organizing a fund drive for the Wish For Our Heroes Foundation.

Construction jobs higher but manufacturers report job losses

Despite a gain of 8,000 jobs in durable goods manufacturing in March, the industry posted a net loss of 1,000 jobs as a result of 9,000 fewer jobs in the nondurable goods sector.

Curtiss-Wright opens Munich office

Curtiss-Wright Corporation's industrial division opened a new office near Munich to provide sales, technical support and customer service to OEM customers and distributors in Europe.

Factory orders up in February

New orders for manufactured goods increased 1.6 percent in February to $488.8 billion.

Praxair acquires Lake Welding Supply

Praxair has acquired Lake Welding Supply Company, an independent gas and welding products distributors in western Michigan.

Manufacturing expanded in March

Economic activity in the manufacturing sector expanded in March for the 10th consecutive month.