July 2016 News

GDP increased by 1.2 percent in 2Q
Real gross domestic product increased at an annual rate of 1.2 percent in the second quarter of 2016.

Kaman's sales down 5.9 percent
Kaman Industrial Technologies reported sales of $286 million for the second quarter, a 5.9% decline from $304 million in the second quarter of 2015.

IBC earns Honda performance award
IBC announced its selection as a Honda 2016 Performance Excellence Award winner.

Motion Industries receives CribMaster recognition
Motion Industries was presented the 2016 CribMaster U.S. Partner of the Year Award.

Columbus McKinnon sales up 9.4 percent
Columbus McKinnon reported that sales in its fiscal 2017 first quarter were up 9.4% to $149.0 million.

Praxair sales fall 3 percent
Praxair reported second-quarter sales were $2.67 billion, 3% below the prior-year quarter

Harrington Hoists names new VP of sales
Harrington Hoists announced the promotion of Jim Small from Midwest regional sales manager and international sales manager to vice president of sales.

Timken sales decline 7.5 percent
The Timken Company reported second-quarter 2016 sales of $674 million, 7.5 percent lower than $728 million in the same period a year ago.

WESCO International 2Q sales flat
WESCO International reported net sales were $1.911 billion for the second quarter of 2016, compared to $1.916 billion for the second quarter of 2015, a decrease of 0.3%.

Rockwell Automation sales decline 6.4 percent
Rockwell Automation reported fiscal 2016 third quarter sales of $1.47 billion, down 6.4 percent from $1.57 billion in the third quarter of fiscal 2015.

Ingersoll Rand sales up 2 percent
Ingersoll-Rand plc reported second-quarter net revenues of $3.68 billion, a 2 percent increase from $3.60 billion in the same period last year.

Houghton International acquires Wallover
Houghton International Inc. announced recently that it acquired Wallover Enterprises, a North American metalworking fluid and industrial lubricant manufacturer headquartered in Strongsville, Ohio.

3M earnings increased on flat sales
3M reported second-quarter earnings of $2.08 per share, an increase of 3.0 percent versus the second quarter of 2015.

Carlisle Companies sales up 1.2 percent
Carlisle Companies reported net sales of $996.9 million for the second quarter, a 1.2% increase from the second quarter 2015.

Atlas Copco Construction names new president
Atlas Copco Construction recently appointed Scott Carnell as president of its U.S. division.

Stanley Black & Decker names new CEO
Stanley Black & Decker announced that ames James M. Loree, currently president and chief operating officer, will become CEO effective Aug. 1.

Snap-on sales and earnings increase
Snap-on Incorporated said its second quarter net sales of $872.3 million increased 2.4% from 2015 levels.

Lawson Products 2Q sales and income decline
Lawson Products reported net sales for the second quarter of 2016 were $69.3 million versus $70.7 million a year ago.

Essendant income falls in 2Q
Essendant reported second quarter sales increased by 0.9 percent $1.35 billion, driven principally by the automotive acquisition and increased sales of office products.

Chicago Fed: June saw economic growth
Led by improvements in production-related indicators, the Chicago Fed National Activity Index rose to +0.16 in June from –0.56 in May.

ITW reports flat revenue
Illinois Tool Works reported second quarter revenue was $3.4 billion, down 0.1%. Currency translation reduced revenue by 1.3%.

ISA members see continued growth
The July ISA Economic Indicator Report (EIR) from the Industrial Supply Association showed that while the Manufacturer Index and the Distributor Index moved in opposite directions, both indicate the economy as a whole continues to expand.

ContiTech expands distribution in Mexico
ContiTech announced that Applied Mexico, S.A. de C.V. and subsidiary RODENSA Mexico,  have completed a product changeover to ContiTech as a primary supplier in Mexico for industrial hoses, hydraulics, power transmission belts, and certain other products.

Motion Industries to acquire Obbco Safety & Supply
Motion Industries has agreed to acquire OBBCO Safety & Supply, based in Chesapeake, Virginia.

Grainger posts 2 percent sales gain
Grainger reported sales for the second quarter of $2.6 billion increased 2 percent versus $2.5 billion in the second quarter of 2015.

Motion Industries sales decline 1.7 percent
Sales at Motion Industries for the second quarter declined by 1.7% to $1.17 billion, compared to $1.19 billion in the same period last year.

EECO names new COO
Electrical Equipment Company (EECO) announced a plan to invest in the digital transformation of operations and services, beginning with a change in the leadership structure.

Osborn appoints abrasives product manager
Osborn appointed Ty Weber as its product manager for its abrasives division.

May cutting tool consumption declined
May U.S. cutting tool consumption totaled $165.68 million according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology.

PTDA welcomes new members
The Power Transmission Distributors Association (PTDA) recently welcomed three new member companies.

Robert S. Mars Jr. passes away
W.P. & R.S. Mars Co., a 93 year old industrial supply firm based in Minnesota, announced that long time company president and industry leader Robert S. Mars Jr. has died at the age of 90.

Shurtape Technologies launches
Shurtape Technologies, a producer of pressure-sensitive tapes, announced the launch of its new website:

Employees now own 49 percent of NewAge Industries
Plastic tubing manufacturer NewAge Industries announced that its ESOP – Employee Stock Ownership Plan – has purchased another nine percent of the company’s stock, bringing its ownership total to 49 percent.

Former MSC executive Sandler dies
MSC Industrial Supply announced that executive vice chairman and former chief executive officer David Sandler passed away July 11 at the age of 59 following a battle with pancreatic cancer.

Fastenal sales up 1.6 percent
Fastenal reported net sales of $1 billion for the second quarter, a 1.6 percent increase from $997.8 million reported in the same quarter last year.

Würth Group sales climb 8.6 percent
In the first half of 2016, the Würth Group reported that sales increased 8.6 percent to EUR 5.92 billion ($6.55 billion).

Manufacturing technology orders continue their decline
Manufacturing technology orders for May 2016 fell 18.2 percent compared to May 2015.

Lincoln Electric names VP finance
The Lincoln Electric Company promoted Daniel E. McMillin Jr. to vice president finance of the Americas Welding segment.

Columbus McKinnon terminates Grainger relationship
Columbus McKinnon Corporation announced that it will no longer distribute its hoists and rigging products, marketed under the CMCO family of brands, through W.W. Grainger Inc. in the United States.

Unemployment rate rises to 4.9 percent
The unemployment rate rose to 4.9 percent in June, the U.S. Bureau of Labor Statistics reported today.

Timken acquires Lovejoy
The Timken Company announced that it has acquired Lovejoy Inc., a manufacturer of premium industrial couplings and universal joints, for approximately $66 million.

WD-40 sales up 4 percent
WD-40 Company reported total net sales for the third quarter were $96.4 million, an increase of 4 percent compared to the prior year fiscal quarter.

Sipe retires from KNIPEX Tools
KNIPEX Tools announced the retirement of president and general manager Alan W. Sipe and appointed Todd Shumate, former executive vice president, as its president.

Motion Industries building new Dallas DC
Motion Industries has broken ground on a new, expanded distribution center (DC) near Dallas.

Greenfield Industries Hosts Apprentice Appreciation Day
Greenfield Industries Inc. will celebrate the completion of its first year partnering with Apprenticeship Carolina with the Greenfield Apprentice Appreciation Day.

Dorian Tool partners with Durrie Sales
Beginning in July, Dorian’s products will be available for immediate shipment from Durrie Sale’s 10,000 square foot warehouse located in Schiller Park, Illinois.

MSC Industrial sales decline 2.4 percent
MSC Industrial Supply reported that its third-quarter net sales of $727.5 million declined 2.4% year-over-year.

Milwaukee Tool partners with Sheet Metal & Air Conditioning Contractors Assn.
Milwaukee Tool announced a new premier partnership with the Sheet Metal & Air Conditioning Contractors’ National Association (SMACNA).

NAHAD names officers and board members
As announced at the recent annual convention of NAHAD – The Association for Hose & Accessories Distribution, new officers and board members were elected to serve for the coming year.

Cline Tool adds field engineers in IL and TN
Cline Tool recently announced the addition of two new field application engineer positions.

Hydraulic Supply Company launches new website
Hydraulic Supply Company, a fluid power distributor of hydraulic, pneumatic, and industrial products based in Sunrise, Florida, announced the launch of its new website.

Epicor to be acquired by KKR
Epicor Software Corporation has entered into a definitive agreement to be acquired by the global investment firm KKR.

Manufactured goods orders down in May
New orders for manufactured goods decreased 1.0 percent in May to $455.2 billion, the U.S. Census Bureau reported today.

Applied Industrial Technologies debuts new catalog
Applied Industrial Technologies announced the availability of its new 2016 / 2017 Applied Product Catalog with more than 31,000 industrial and maintenance products.

Praxair announces price increase
Praxair Inc. is notifying bulk industrial gas and medical gas customers in the United States and its territories of price increases of up to 15%.

ISM: Manufacturing at highest level since Feb. 2015
Manufacturing expanded in June as the Institute for Supply Management Index registered 53.2 percent, an increase of 1.9 percentage points from the May reading of 51.3 percent.

Construction spending down 0.8 percent
Construction spending during May 2016 was 0.8 percent lower than in April, according to the monthly report from the U.S. Census Bureau.

Ruth named president of BSA
The Bearing Specialists Association (BSA) has elected John Ruth, BDI, as president for 2016-2017, effective July 1.

Diamond Saw joins IBC
IBC announced the addition of Diamond Saw Works Inc., of Chaffee, N.Y., as its newest preferred supplier.