March 2010 News
Brady acquires French first-aid company
Brady Corporation announced that it has acquired Securimed SAS, a direct marketer of first-aid supplies and related products, located in Coudekerque, France.
Kaman signs agreement with Bison Gear
Bison Gear & Engineering Corp. has entered into a new North American distribution agreement with Kaman Industrial Technologies.
H.B. Fuller reports sales gain
H.B. Fuller Company reported that net revenue for the first quarter of 2010 was $309.4 million, up 11.1 percent versus the first quarter of 2009.
Ideal Industries buys Pratt-Read
Ideal Industries Inc. has entered into an agreement to acquire Pratt-Read, the third largest manufacturer of screwdrivers in the United States.
PT/motion control sales increase
U.S. and Canadian manufacturers’ sales increased in the month of January, according to the Power Transmission Distributors Association (PTDA) Market Outlook Report.
Danaher and Cooper to merge tool businesses
Danaher Corporation and Cooper Industries plc announced they have reached an agreement to combine their respective tool businesses, Danaher Tool Group and Cooper Tools, in a joint venture.
MCR Safety expands Mexico plant
MCR Safety announced that it recently expanded manufacturing operations with a new yarn spinning facility located in Puebla, Mexico.
NetPlus Alliance to meet at ISA
NetPlus Alliance will host its annual distributor member meeting at the 1st Annual ISA Product Show & Conference in Indianapolis on Sunday, May 2, from 12 p.m. – 2 p.m.
Durable goods orders up
New orders for manufactured durable goods increased $0.9 billion or 0.5 percent to $178.1 billion in February, the U.S. Census Bureau announced today.
Central Atlantic area manufacturing improves
Manufacturing activity in the central Atlantic region advanced somewhat faster in March than a month earlier, according to the Richmond Fed's latest survey.
DXP Enterprises reports loss
DXP Enterprises Inc. announced a net loss of $50.5 million, or $3.84 per share, for the fourth quarter compared to net income of $7.0 million, or 51 cents per share, for the fourth quarter of 2008.
Airgas founder fights off takeover bid
In this article from Philadelphia Business Today, Airgas founder Peter McCausland says his fight to save his company is not personal.
Chicago Fed National Activity Index declines
Led by declines in production-related indicators, the Chicago Fed National Activity Index decreased to –0.64 in February, down from –0.04 in January.
Chicago Fed Midwest Manufacturing Index rises
The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 1.9% in January, to a seasonally adjusted level of 83.1.
Philadelphia area manufacturing grows
Manufacturing in the Philadelphia region continues to show signs of growth, according to the Federal Reserve Bank of Philadelphia.
MAPI: Manufacturing leading recovery
The recovery in the U.S. domestic manufacturing sector is stronger than the general economic recovery,according to a new report from the Manufacturers Alliance/MAPI.
Interline ends shareholder rights plan
Interline Brands Inc. announced that its Board of Directors has voted to terminate the company's current shareholder rights plan, which had previously been adopted in March 2009.
Noland Co. opens Fla. location
Plumbing and HVAC distributor Noland Company has opened a new location in Cape Coral, Fla., to serve commercial and residential contractors.
Actuant Corp. reports flat sales
Actuant Corp. reported consolidated sales for the second quarter were $294 million, approximately equal to the comparable prior year quarter.
Building permits, housing starts down
Building permits issued for private housing in February were at a seasonally adjusted annual rate of 612,000, 1.6 percent below the revised January rate of 622,000.
Metalformers expect improvement
Metalforming companies expect orders and shipments will continue to rise or at least remain constant during the next three months.
Canadian manufacturers up 2.4%
Manufacturing sales in Canada rose 2.4% in January to $44.6 billion, according to Statistics Canada.
NY manufacturing improves
The Empire State Manufacturing Survey indicates that conditions for New York manufacturers continued to improve at a steady pace in March.
ITW revenues up 10%
Illinois Tool Works Inc. reported a total company operating revenue increase of 10 percent for the three months ended Feb. 28.
Industrial production rises in February
Industrial production edged up 0.1 percent in February following a gain of 0.9 percent in January.
Stanley/Black & Decker merger completed
The Stanley Works announced that it completed its merger with The Black & Decker Corporation.
Wholesaler revenues up 1.3%
The U.S. Census Bureau announced that January 2010 sales of merchant wholesalers were $346.7 billion, up 1.3 percent from December and up 10.5 percent from January 2009.
Airgas opens new Louisiana plant
Airgas Inc. opened a new industrial, medical and specialty gas facility and hardgoods store in Harvey, La.
Canadian industrial capacity rises
Canadian industries recorded the first significant gain in capacity use in three years during the final quarter of 2009, according to newly released official data.
Oil-Dri Corp.'s sales fall 7%
Oil-Dri Corporation of America reported Q2 net sales of $54.73 million, a 7% decrease compared with $59.13 million for the same quarter last year.
Graybar reports 18.9% sales decrease
Graybar announced that net sales were $4.38 billion in 2009, a decrease of 18.9 percent compared to 2008.
BSA convention may set attendance record
A record number of attendees have registered for the Bearing Specialists Association 2010 Annual Convention.
Grainger's February sales grow 12%
Grainger reported February sales increased 12% versus Feb. 2009.
3M to acquire MTI PolyFab
3M announced it has entered into a definitive agreement to acquire MTI PolyFab Inc., a manufacturer of thermal and acoustic insulation for the aerospace industry.
Manufacturing technology consumption rises
January U.S. manufacturing technology consumption totaled $130.96 million, up 26.2% from a year ago.
ProBuild opens Utah, Virginia locations
ProBuild Holdings Inc. is opening two new locations, one in Orem, Utah and one in Winchester, Va.
Fed Beige Book reports modest improvement
Nine out of 12 Federal Reserve Districts showed modest improvement in economic activity according to the latest Beige Book summary from the Fed.
Ironclad posts 9.3% sales gain
Ironclad Performance Wear Corporation reported net sales for the fourth quarter of $4.4 million, an increase of 9.3% percent from the fourth quarter 2008 of $4.05 million.
NAW and IBM to collaborate on Facing the Forces of Change
The NAW Institute for Distribution Excellence and IBM’s Institute for Business Value (IBV) have announced that the two organizations will collaborate to produce the next Facing the Forces of Change report.
Motion Industries completes BC Bearing acquisition
Motion Industries has completed the acquisition of the North American assets of BC Bearing (BC Bearing and US Bearings), effective March 1, 2010.
Emhart Teknologies acquires FIT
Shelton, Conn.-based Emhart Teknologies, a Black & Decker Company, announced the acquisition of Fastener Innovation Technology Inc. (FIT).
Construction spending dips in January
Construction spending during January 2010 was estimated at a seasonally adjusted annual rate of $884.1 billion, 0.6 percent below the revised December estimate of $889.6 billion.
Stock Building Supply to target acquisitions
Stock Building Supply Holdings added the former chairman and CEO of Building Materials Corp. to its board of directors to provide expertise on acquisitions.
Manufacturing expands at slower pace
The latest report from the Institute for Supply Management showed that manufacturing expanded for the seventh straight month in February.
Allied Motion posts loss for 2009
Allied Motion Technologies Inc. announced net income for the fourth quarter of $117,000, or 2 cents per diluted share, compared to $280,000, or 4 cents per share, for Q4 2008.
United Stationers acquires software company
United Stationers Supply Co. announced the acquisition of MBS Dev, a Colorado-based provider of software and services to business products resellers.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
