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February 2016 News

DXP Enterprises 4Q sales plummet 27.1 percent
DXP Enterprises reported sales for the fourth quarter of 2015 were $278.7 million, a decrease of 27.1 percent compared to $382.5 million for the fourth quarter of 2014.

Voss Fluid acquires Larga
Voss Fluid, a German manufacturer of hydraulic couplings, announced that it has acquired Italy-based Larga.

MSA revenue increased 8 percent
Global safety equipment manufacturer MSA Safety Incorporated reported fourth quarter revenue was $313 million, increasing 8 percent on a local currency basis.

MRC Global 4Q sales fall 36 percent
MRC Global reported sales of $967 million for the fourth quarter of 2015, 36% lower than the fourth quarter of 2014 and 10% lower than the third quarter of 2015.

NOW Inc. sales decline 14 percent
NOW Inc. reported a net loss of $249 million, or $2.33 per fully diluted share, for its fourth quarter.

Home Depot sales up 9.5 percent
The Home Depot reported sales of $21.0 billion for the fourth quarter of fiscal 2015, a 9.5 percent increase from the fourth quarter of fiscal 2014.

Hyde IBS names supply chain director
Hyde Industrial Blade Solutions (IBS) announced that Lynn Henchey of West Springfield, Mass., has been named supply chain director.

Motion Industries to acquire Epperson and Company
Motion Industries has entered into a definitive agreement to acquire Epperson and Company, an industrial distributor specializing in material handling products and services.

Falcon Fastening names director of sales
Falcon Fastening Solutions appointed Charles Debbout as the director of sales.

Economic growth picked up in January
Led by improvements in production-related indicators, the Chicago Fed National Activity Index rose to +0.28 in January from –0.34 in December.

PIP acquires Safety Works
Protective Industrial Products has acquired Safety Works LLC., a provider of safety products that services the consumer and retail market.

ISA Economic Index Report shows strong start to 2016
The February ISA Economic Indicator Report (EIR) from the Industrial Supply Association showed a strong start to 2016 after a slowdown at the end of 2015.

PTDA Business Index shows slower growth
The PTDA Business Index for the fourth quarter of 2015 indicates continued slowing with a reading of 35.7, slightly down from 37.7 in the third quarter.

ISA accepting nominations for American Eagle Awards
The Industrial Supply Association is accepting nominations for its annual American Eagle Awards.

PTDA accepting nominations for Wendy B. McDonald Award
The PTDA Foundation is accepting nominations for its 2016 Wendy B. McDonald Award.

Brady Corp. reports boost in earnings
Brady Corp. reported net earnings for its fiscal second quarter were $15.3 million compared to $11.6 million in the same quarter last year.

MAPI says U.S. trade deficit in manufactures soared in 2015
The U.S. manufactures trade picture continued to dim in 2015,especially when compared with China, causing significant job decreases.

Pelican Products names new sales director
Pelican Products Inc. appointed Michael Tessman as Director of Sales for the Midwest Commercial/Government Division.

MW Industries acquires USA Fastener
MW Industries announced the acquisition of USA Fastener Group Inc.

Hydradyne to acquire Gatlin Corp. Seal Group
Hydradyne announced that it has agreed to acquire Gatlin Corporation/Seal Group.

Lawson Products 4Q sales down 7.6 percent
Lawson Products reported net sales for the fourth quarter of 2015 decreased 7.6 percent to $65.0 million versus $70.3 million in the same period a year ago.

Motion Industries to acquire Missouri Power Transmission
Motion Industries has entered into a definitive agreement to acquire Missouri Power Transmission.

ERIKS receives Boeing award
ERIKS West, a division of ERIKS Seals and Plastics Inc., received the 2015 Silver Performance Excellence Award from The Boeing Company.

Industrial production gained in January
Industrial production increased 0.9 percent in January after decreasing 0.7 percent in December.

Greenfield's Blackburn passed away
George Blackburn passed away on Jan. 26, 2016.

Essendant reports fourth quarter loss
Essendant Inc.reported a loss of $95.8 million for the fourth quarter, as sales declined 2.7 percent to $1.29 billion.

Hamann named Dynabrade president
Dynabrade Inc. announced that Ned T. Librock will retire as company president effective Feb. 29.

Motion Industries 4Q sales down 8 percent
Fourth-quarter sales for Motion Industries declined 8% to $1.10 billion, compared to $1.19 billion in the same period a year ago.

EECO announces retirement of CEO Holmes
Electrical Equipment Company (EECO) announced that company president and CEO Jack Lawson will retire on June 30, 2016.

PTDA members see slower growth
A quarterly Power Transmission Distributors Association report predicts continued slowing grwoth rate for distributors and manufacturers.

MRC Global to sell OCTG business
MRC Global Inc. has entered into a definitive agreement to sell its U.S. OCTG business to Sooner Pipe, LLC, a subsidiary of Marubeni-Itochu Tubulars America Inc., for $48 million.

December cutting tool consumption tops November
December U.S. cutting tool consumption totaled $156.48 million according to the U.S. Cutting Tool Institute and AMT – The Association For Manufacturing Technology.

Manufacturing facing unprecedented global complexity
Manufacturing’s leaders are facing unprecedented global complexity and economic, demographic, and technological shifts are turning the way manufacturers do business on its head.

Grainger reported daily sales gain in January
Grainger reported daily sales increased 4 percent in January of 2016 versus January of 2015.

Rockwell Automation to acquire MagneMotion
Rockwell Automation has agreed to purchase MagneMotion, a manufacturer of intelligent conveying systems.

Regal Beloit narrowed loss in 4Q
Regal Beloit Corporation reported a fourth quarter 2015 diluted loss of $19.3 million, or 43 cents per share.

Ingersoll Rand reports lower earnings
Ingersoll-Rand plc reported net earnings of $233.5 million, or 88 cents per share, for the fourth quarter.

Grainger introduces new purchasing program for schools
Grainger and SchoolDude announced the Click2Buy solution to help educational institutions manage workflow when purchasing products used to maintain, repair and operate their facilities.

Graybar moves Alabama branch
Graybar announced that its Huntsville, Ala., branch has moved to a larger, updated facility.

Apex Tool Group names new CEO
Apex Tool Group announced the appointment of James J. Roberts as chief executive officer.

Manufacturing technology orders grew in December
The U.S. Manufacturing Technology Orders report (USMTO) for December 2015 showed that order values grew 20.4% compared to the prior month, according to AMT – The Association For Manufacturing Technology.

Manufacturing employment improved in January
Manufacturers added 29,000 jobs in January, following little employment change in 2015, the U.S. Bureau of Labor Statistics reported today.

Snap-on sales dip by 0.7 percent
Snap-on Incorporated reported sales of $851.7 million in the fourth quarter decreased $5.7 million, or 0.7%, from 2014 levels.

Carlisle Companies sales up 11 percent
Carlisle Companies Incorporated reported net sales of $876.2 million for the fourth quarter, an 11% increase from $790.0 million in the fourth quarter 2014.

Fastenal sales dipped 1.6 percent in January
Fastenal reported sales in January of $308.35 million, a decline of 1.6 percent from the $313.47 million in January 2014.

AD sales up by 2 percent
Affiliated Distributors reported sales for AD members across its seven divisions and three countries grew by 2% in 2015.

PIP realigns sales team
Protective Industrial Products announced the realignment of its outside sales team.

Productivity decreased in fourth quarter
Nonfarm business sector labor productivity decreased at a 3.0-percent annual rate during the fourth quarter of 2015, the U.S. Bureau of Labor Statistics reported today, as output increased 0.1 percent and hours worked increased 3.3 percent.

Kennametal appoints new CEO
The board of directors of Kennametal Inc. announced the appointment of board member Ronald M. DeFeo as the company's president and chief executive officer, effective immediately.

Sandvik sales decline 5 percent
Sandvik Group reported 2015 sales declined 5 percent to SEK 85.5 billion ($10.2 billion) compared to 2014.

Eaton Corporation sales fall 9 percent
Eaton Corporation announced operating earnings per share for the fourth quarter of $1.17, a decrease of 8 percent from the fourth quarter of 2014.

Rexnord sales down 7 percent
Rexnord Corporation reported that its third quarter net sales of $460 million decreased 7% year over year.

Timken 4Q sales declined 6 percent
The Timken Company reported sales of $714.4 million for the fourth quarter of 2015, approximately 6 percent lower than the same period a year ago.

Kennametal sales down 22 percent
Kennametal said sales for its fiscal second quarter were $524 million, compared with $676 million in the same quarter last year.

RBC Bearings sales and earnings rise
RBC Bearings reported net sales for the third quarter of fiscal 2016 were $144.2 million, an increase of 35.6% from $106.3 million in the third quarter of fiscal 2015.

Emerson sales down 16 percent
Emerson announced net sales in the first quarter were down 16 percent to $4.7 billion, with underlying sales down 9 percent.

Horizon Solutions introduces new brand identity
Horizon Solutions, a wholesale distributor of electrical and industrial products and services across New England and upstate New York, recently introduced its new corporate brand identity and website.

LINC Systems acquires Numax
LINC Systems of Westfield, Ind., has acquired Numax of New Windsor, N.Y.

Graybar enters Grand Forks market
Graybar announced the opening of a new facility in Grand Forks, North Dakota.

Sandvik Coromant acquires Prometec
Sandvik Coromant announced its acquisition of the German company Prometec GmbH, based in Aachen.

Manufacturing contracted for fourth straight month
Economic activity in the manufacturing sector contracted in January for the fourth consecutive month.

Construction spending rose in December
Construction spending rose by 0.1 percent during December, following a drop in spending of 0.6 percent in November.

Royal Adhesives & Sealants acquires Weld Mount
Royal Adhesives & Sealants has acquired the business assets of Weld Mount Systems.

MSC to distribute Schneider Electric products
MSC Industrial Supply Co. and Schneider Electric announced the launch of an extensive distribution agreement that provides MSC customers in the United States access to more than 50,000 electrical products marketed under the Square D, Schneider Electric and Telemecanique brand names.

Atlas Copco to build new SC production facility
Atlas Copco is breaking ground on a new 180,000-square-foot facility in Rock Hill, S. C. to meet growing customer demand.

Renfroe acquires Toronto warehouse
J.C. Renfroe, a manufacturer of industrial lifting products, has acquired a warehousing facility in Toronto to speed delivery of products to the Canadian market.