May 2011 News
Atlas Copco buys Tencarva compressor business
Atlas Copco Compressors LLC has purchased the compressor business of the Tencarva Machinery Company, a distributor of Atlas Copco products for many years.
Midwest manufacturing index falls
The Chicago Fed Midwest Manufacturing Index (CFMMI) decreased 0.9% in April, to a seasonally adjusted level of 83.6.
Timken to acquire Philadelphia Gear
The Timken Company announced plans to acquire Philadelphia Gear Corp., a provider of high-performance gear drives and components in the industrial and military marine sectors, for $200 million.
ISM's Ore to retire
After more than 15 years of service, Norbert J. Ore will retire as Institute for Supply Management (ISM) Manufacturing Business Survey Committee chair.
2011 American Eagle winners named
The Industrial Supply Association recognized three companies with American Eagle Awards at the 2011 ISA Product Show & Conference in Rosemont, Ill. on May 15.
U.S. sales gain drives Columbus McKinnon
Columbus McKinnon Corporation reported net sales for the fourth quarter of fiscal 2011 were $144.0 million, up 17.1% from the same period in the prior year.
RBC Bearings annual sales up 22.2%
RBC Bearings Incorporated said its net sales for the fourth quarter of fiscal 2011 were $88.9 million, an increase of 11.4% from Q4 2010.
Airgas realigns into four divisions
Airgas has realigned its 12 regional companies into four new divisions to help the company leverage its new customized SAP information platform.
Durable goods orders fall
New orders for manufactured durable goods decreased 3.6 percent in April to $189.9 billion, the U.S. Census Bureau announced today.
Matheson acquires Quimby Welding Supplies
Matheson announced in late April that it acquired Quimby Welding Supplies Inc., based in Portland, Oregon.
Chicago Fed National Activity index falls
Led by declines in production-related indicators, the Chicago Fed National Activity Index fell to –0.45 in April from +0.32 in March.
Holmes to head 3M Industrial business
3M appointed Christopher D. Holmes to the position of executive vice president of the Industrial and Transportation Business.
Actuant acquires Weasler Engineering
Actuant Corporation announced it signed a definitive agreement to acquire Weasler Engineering Inc. for $155 million.
MAPI: Manufacturing recovery on track
The U.S. economic outlook continues to show modest improvement, but while the manufacturing recovery is on track, caution flags remain for the overall economy.
ITW revenues up 16%
Illinois Tool Works Inc. reported a total operating revenue increase of 16 percent for the quarter compared to the year-ago period.
ISM: Growth to continue
A new forecast from the Institute for Supply Management says economic growth is expected to continue in the United States throughout the remainder of 2011.
Industrial production remains unchanged
Industrial production was unchanged in April after having increased 0.7 percent in March.
Beacon Roofing acquires Enercon Products
Beacon Roofing Supply announced that it has acquired Enercon Products, a roofing distributor with six locations in Western Canada.
Home Depot sales fall
The Home Depot reported sales for the first quarter totaled $16.8 billion, a 0.2 percent decrease from the first quarter of fiscal 2010.
NY manufacturing conditions improve
The Empire State Manufacturing Survey indicates that conditions for New York manufacturers improved in May, but at a slower pace than in April.
Canadian manufacturing sales rise
Manufacturing sales in Canada increased by 1.9% in March to $47.5 billion, following a 1.8% decline in February.
Allied Motion sales up 53%
Allied Motion Technologies Inc. reported first quarter revenues increased 53% to $26.7 million compared to $17.4 million last year.
Survey: Manufacturers and distributors optimistic
Ninety percent of manufacturers and distributors are optimistic about their future according to the spring 2011 McGladrey Manufacturing & Distribution Monitor released today.
Precision Castparts sales up 16.8%
Precision Castparts Corp. achieved solid year-over-year increases in fourth quarter sales and earnings.
Ironclad Performance Wear sales up 36.8%
Ironclad Performance Wear Corporation reported net sales for the first quarter of 2011 of $3.40 million, an increase of 36.8% percent from the first quarter 2010.
Phipps named president, CEO of United Stationers
United Stationers Inc. announced the election of P. Cody Phipps as president and chief executive officer.
Graybar sales up 18.6%
Graybar reported its first quarter sales were $1.191 billion, 18.6 percent higher compared to the same period last year.
Grainger April sales rise 4%
Grainger reported sales in April increased 14 percent compared to April 2010.
NN Inc. sales up 30.4%
NN Inc. reported net sales for the first quarter of 2011 rose $26.0 million or 30.4% to $111.3 million, compared to $85.3 million for the same period of 2010.
Airgas acquires Pain Enterprises
Airgas Inc. has completed the acquisition of Pain Enterprises Inc., a producer and distributor of dry ice and carbon dioxide throughout the Midwestern U.S.
Huge gain in March manufacturing technology consumption
March U.S. manufacturing technology consumption totaled $511.15 million, a 57.6% increase from February.
Beacon Roofing Supply reports loss
Beacon Roofing Supply said its fiscal 2011 second quarter sales increased 3.8% to $296.3 million.
29,000 factory jobs added in April
The nation's factories added 29,000 jobs in April according to the latest employment report from the U.S. Bureau of Labor Statistics.
Interline Brands sales up 21.3%
Interline Brands reported sales for the first quarter were $297.4 million, a 21.3% increase compared to sales of $245.2 million in the comparable 2010 period.
Fairmont Supply names new president
Fairmont Supply Company, a wholly owned subsidiary of CONSOL Energy Inc., named Van Compagni as president, effective June 1.
Blackhawk acquires Fuchs Machinery
BlackHawk Industrial Distribution Inc. announced the acquisition of Fuchs Machinery Inc., an industrial distributor serving the MRO marketplace.
Precision Castparts buys PB Fasteners
Precision Castparts Corp. has agreed to acquire the assets of PB Fasteners,a manufacturer of fastener products for airframe applications.
Kaman Industrial Technologies sales leap 33%
Kaman Industrial Technologies said its sales grew 33.3% in the 2011 first quarter, to a record $238.9 million from $179.3 million a year ago.
Study: U.S. manufacturing renaissance on horizon
A new study suggests that the United States may seen a manufacturing renaissance within the next five years.
Manufacturing productivity jumps 6.3%
Manufacturing sector productivity grew 6.3 percent in the first quarter of 2011, according to the U.S. Bureau of Labor Statistics.
Airgas annual sales up 10%
Airgas reported fourth quarter sales of $1.1 billion, an increase of 12% over the prior year.
DXP Enterprises income rises 76.6%
DXP Enterprises announced sales for the first quarter of 2011 increased 24.6% to $183.1 million, from $147.0 million for the first quarter of 2010.
Manufactured goods orders climb
New orders for manufactured goods climbed for the fifth straight month in March to $462.9 billion, the U.S. Census Bureau said.
Newell Rubbermaid sales fall slightly
Newell Rubbermaid reported first quarter sales of $1.30 billion, a decline of 0.3 percent compared with the prior year.
Regal-Beloit earnings up 2.9%
Regal-Beloit said its net sales of $662.7 million increased 30.6% compared to $507.3 million for the first quarter of 2010.
Emerson sales up 18%
Emerson announced that net sales for the second quarter were $5.9 billion, an increase of 18 percent from the prior year quarter.
Applied Industrial Technologies buys Gulf Coast Bearing
Applied Industrial Technologies announced that it has acquired the assets of Gulf Coast Bearing & Supply Co. of Corpus Christi, Texas.
U.S. manufacturing marks 21 months of growth
Economic activity in the manufacturing sector expanded in April for the 21st consecutive month, according to the latest Manufacturing ISM Report On Business.
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.
