November 2012 News

GDP grows by 2.7 percent in 3Q
Real gross domestic product increased at an annual rate of 2.7 percent in the third quarter of 2012, according to the "second" estimate released by the Bureau of Economic Analysis.

STAFDA elects 2013 officers
Members of the Specialty Tools & Fasteners Distributors Association (STAFDA) elected a slate of officers to serve on its board for 2013 at its annual Convention and Trade Show in Orlando.

NAW and Chally Group form alliance
The National Association of Wholesaler‐Distributors (NAW) and Chally Group Worldwide, a sales potential and performance measurement firm, announced a new strategic alliance.

Sandvik to close Mich. distribution center
In a move designed to lower costs by more than 1 billion SEK ($150 million) by the end of 2013, Swedish cutting tools manufacturer Sandvik announced plans to eliminate more than 900 jobs globally.

Midwest manufacturing slows
Manufacturing in the Midwest slowed during the month of October, with the machinery sector experiencing the biggest decline.

Moderate growth predicted
The U.S. economy could be in a transition from sluggish growth to a longer period of moderate growth, according to a new report.

Chicago Fed National Activity Index down
Led by declines in production-related indicators, the Chicago Fed National Activity Index (CFNAI) decreased to –0.56 in October from 0.00 in September.

PTDA announces 2013 leadership
The Power Transmission Distributors Association (PTDA) elected its 2013 Board of Directors and Manufacturer Council at the Industry Summit in Dallas, Texas.

Wuerthele to head Newell Rubbermaid Tools segment
Newell Rubbermaid announced the appointment of Rich Wuerthele to lead the company’s new Tools business segment.

Housing starts hit four-year high
Housing starts rose by 3.6 precent in October to their highest rate in more than four years.

ITW's Speer succumbs to cancer
ITW chairman and CEO David B. Speer has passed away after an illness. He was 61.

Praxair acquires Acetylene Oxygen Co.
Praxair Distribution has acquired Harlingen, Texas-based Acetylene Oxygen Company.

Apache to be featured on TV
Apache Inc. has been selected by How 2 Media, the producers of the television show “World’s Greatest!...”, to be showcased as part of the popular paid program.

October industrial production down 0.4%
Industrial production declined 0.4 percent in October after having increased 0.2 percent in September, the Fed reported today.

3Q PTDA Business Index slows
The 3Q12 PTDA Business Index produced a reading of 50.3, which represents a deceleration from the 2Q12 reading of 54.2.

Factory activity slows in Northeast
Manufacturing activity in the Northeast took a hit in October according to two newly released reports.

Brady sales fall 3.4%
Brady Corporation said its sales for the fiscal 2013 first quarter were down 3.4 percent to $337.6 million compared to $349.5 million in the first quarter of fiscal 2012.

NAM weighs in on fiscal cliff
The National Association of Manufacturers (NAM) is urging President Obama and congressional leaders to focus on restructuring entitlement programs to avoid the so-called fiscal cliff.

Kennametal seeks site for U.S. recycling facility
Kennametal announced a plan to evaluate potential locations for an advanced carbide recycling facility in the United States.

Grainger expects 4Q sales growth of 7% to 9%
Grainger expects sales for the 2012 fourth quarter to increase 7 percent to 9 percent and expects earnings per share of $2.55 to $2.75.

Werner unveils new branding strategy
Werner Co. unveiled the company’s new corporate mark, which includes a new logo, positioning statement and family of products for the professional channel.

ICP’s Elements of Industrial Distribution
Henry Ford Community College, Dearborn, Mich., recently incorporated Elements of Industrial Distribution, an online course developed by Industrial Careers Pathway (ICP), into its industrial distribution curriculum for students.

USCTI names 2013 board
The United States Cutting Tool Institute elected officers and board members for 2013 at the group's annual meeting in October.

Tencarva Machinery on N.C. Top 100 list
Tencarva Machinery Company ranked 48th in the 2012 “Grant Thornton North Carolina 100” ranking of the largest privately owned companies headquartered in the state.

Home Depot sales up 4.6%
The Home Depot reported sales of $18.1 billion for the third quarter of fiscal 2012, a 4.6 percent increase from the third quarter of fiscal 2011.

Interline Brands reports loss
Interline Brands reported a loss of $26.8 million for the third quarter of 2012, impacted by $54.6 million in merger-related expenses associated with its acquisition.

Parker acquires PGI International
Parker Hannifin Corporation has acquired PGI International, a Houston-based designer and manufacturer of specialized, high-pressure flow control components and systems.

Manufacturing technology orders rise
September U.S. manufacturing technology orders totaled $667.47 million, topping the $600 million level for only second time in 17 years.

Grainger October sales up 6%
Grainger said its sales for the month of October increased 6 percent versus October 2011.

I.B.I.S. announces Advanced Distribution Software
I.B.I.S. Inc. announced the availability of Advanced Distribution Software, a new enterprise software solution.

BDI acquires Bearing Sales
Bearing Distributors Inc. (BDI) acquired Bearing Sales Inc., based in Great Falls, Mont.

Fastenal October sales up 16.9%
Fastenal reported that its October sales were $288.5 million, 16.9% higher than in October 2011.

Condoleezza Rice greeted warmly at STAFDA

by Rich Vurva

Former Secretary of State Condoleezza Rice was greeted by a standing ovation as she prepared to give her keynote address at STAFDA’s annual Trade Show and Convention in Orlando, Fla., on Nov. 5.

PFERD parent acquires Superior Abrasives
Superior Abrasives has been acquired by the Rüggeberg Group, parent company of PFERD Inc. The company will be named Superior Abrasives LLC.

Newell Rubbermaid reorganization
Newell Rubbermaid said that its 3Q sales dipped slightly to $1.54 billion, but net income improved to $108.3 million, compared to a loss of $177.6 million last year.

DXP Enterprises sales up 39.5%
DXP Enterprises announced that 3Q sales increased 39.5% to approximately $289.9 million.

Oct. job gains in manufacturing and construction
Employment in construction edged up in October, concentrated in specialty trade contractors (+17,000).

RBC Bearings earnings up
RBC Bearings said its net sales for the second quarter of fiscal 2013 were $100.4 million, an increase of 2.7% compared to the same period last year.

Applied Industrial Technologies acquires HyQuip
Applied Industrial Technologies announced the acquisition of HyQuip Inc., a distributor of hydraulic, rubber and plastic industrial hose and tubing, plus related accessories.

Productivity up by 1.9%
Productivity increased at a 1.9 percent annual rate during the third quarter of 2012, the U.S. Bureau of Labor Statistics reported today.

AD affiliates growth at 8%
Affiliated Distributors reported that aggregate sales for members of the buying and marketing group grew by 8% for the first three quarters of 2012 to $18.3 billion.

ISM index remains in positive territory
Manufacturing activity expanded in October for the second consecutive month following three months of slight contraction.

Butler Bros. opens Syracuse branch
Butler Bros., headquartered in Lewiston, Maine, announced the opening of a branch location in Syracuse, N.Y.