SEARCH

October 2012 News

Allied Motion income falls

Allied Motion Technologies achieved 3Q net income of $1.31 million, or 15 cents per diluted share, compared to $1.55 million, 18 cents per diluted share for the same quarter last year.

Kaman Industrial Technologies sales up 10%

Kaman Industrial Technologies reported sales increased 10.1% in the third quarter of 2012 to a record $263.3 million compared to $239.1 million a year ago.

Eaton 3Q income slips

Eaton Corporation announced third-quarter net income of $345 million, a 5% drop from $365 million in the same period last year.

MSC Industrial income rises by nearly 19%

MSC Industrial Direct reported that its net income for fiscal 2012 rose 18.7% to $259.8 million, or $4.10 per diluted share, compared to $218.8 million, or $3.43 per share, in fiscal 2011.

AD award winners named

Affiliated Distributors announced the names of the winners of its 2012 Spirit of Independence Awards.

IDG launches IDGSupply.com

Industrial Distribution Group announced the launch of IDGsupply.com.

Midwest Manufacturing Index declines

The Chicago Fed Midwest Manufacturing Index (CFMMI) decreased 0.4% in September, to a seasonally adjusted level of 93.4.

NAM: 'Fiscal cliff' already harming economy

A new report by a major manufacturing group suggests that the impending "fiscal cliff" is already harming the economy.

ST Solutions acquires JSM Industrial Supply

ST Solutions has acquired JSM Industrial Supply in a cash asset purchase transaction.

GDP grew by 2%

Real gross domestic product increased at an annual rate of 2.0 percent in the third quarter of 2012.

Barnes Distribution sales down 5%

Barnes Distribution reported net sales of $85.7 million were down 5 percent compared to the third quarter of 2011 as a result of softness in North American markets.

Saint-Gobain sales inch higher

Saint-Gobain reported sales of $14.4 million (€10.9 million) for the third quarter, a gain of 1.8% percent compared to the same period last year.

Looney named president of United Central

United Central Industrial Supply Company announced that Henry E. Looney has been promoted to president.

Gershwind to become MSC president & CEO

MSC Industrial Direct announced that Erik Gershwind will become president and CEO on Jan. 1 as part of the company's previously announced succession plan.

Columbus McKinnon sales fall

Columbus McKinnon said its net sales for the second quarter of fiscal 2013 fell by 2.3% to $146.5 million.

Lawson Products posts loss

Lawson Products said its net sales for the third quarter declined by 4.5% to $72.0 million versus $75.4 million for the third quarter of 2011.

Chicago Fed National Activity Index rises

Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) increased to 0.00 in September from -1.17 in August.

Timken sales decline by 14%

The Timken Company reported sales of $1.1 billion in the third quarter of 2012, a decrease of 14 percent from the same period a year ago.

Praxair sales fall by 4%

Praxair reported third-quarter sales were $2.77 billion, 4% below the prior-year quarter.

Kennametal sales decline

Kennametal said its fiscal 2013 first quarter sales declined by 4 percent to $629 million, compared with $659 million in the same quarter last year.

Airgas sales up 4%

Airgas reported second quarter sales were $1.23 billion, an increase of 4% over the prior year.

Q.E.P. acquires Ludell 

Q.E.P. Co. Inc. announced its acquisition of the Ludell brand of striking tools.

3M sales decline by 0.4%

3M said its third quarter sales were $7.5 billion, down 0.4 percent year-over-year.

ITW revenues dip slightly

Illinois Tool Works reported third quarter 2012 revenues of $4.501 billion decreased 1.7 percent.

United Stationers sales relatively flat

United Stationers said its third quarter 2012 net sales were $1.28 billion, compared to the $1.3 billion reported in the prior-year quarter.

Applied Industrial Technologies sales up 5.3%

Applied Industrial Technologies reported net sales for its fiscal 2013 first quarter increased 5.3% to $610.5 million.

United Stationers to acquire O.K.I Supply

United Stationers signed a stock purchase agreement to acquire O.K.I. Supply Co. for $90 million.

Bosch and Simpson Strong-Tie form alliance

Robert Bosch Power Tool Corp. and Simpson Strong-Tie Company signed an agreement to form a strategic alliance to jointly pursue opportunities in the concrete construction industry.

Snap-on sales up 2.1%

Snap-on Incorporated reported third quarter sales of $711.6 million, a 2.1% increase from the same period last year.

WESCO International sales up 4.8%

WESCO International said its net sales were $1.65 billion for the third quarter of 2012, compared to $1.58 billion for the third quarter of 2011, an increase of 4.8%.

Motion Industries sales rise

Motion Industries posted a 4.5% sales increase for the third quarter to $1.13 billion.

Stanley sales climb 6%

Stanley Black & Decker said its net sales for the third quarter were $2.8 billion, up 6% versus prior year. 

Industrial production up 0.4%

Industrial production rose 0.4 percent in September after having fallen 1.4 percent in August.

Grainger sales rise 8%

Grainger reported sales for the 2012 third quarter rose by 8 percent to $2.3 billion. 

WinWholesale to build CT and CO DCs

WinWholesale Inc. announced that it is building regional distribution centers in Middletown, Conn., and Aurora, Colo.

ITW's Speer takes leave of absence

Illinois Tool Works Inc. announced that chairman and CEO David Speer will take a leave of absence for health reasons.

Offshoring slowdown boosts economy

A new report cites the slowdown in offshoring manufacturing activity as a key driver in the economic recovery.

BDI opens Indy branch

BDI (Bearing Distributors Inc.) announced the opening of a new branch serving businesses in the Indianapolis market.

Fastenal sales up 10.4 percent

Fastenal reported that its third-quarter sales increased 10.4% to $802.6 million.

MAPI Index indicates slower growth

A new MAPI survey indicates slowing growth for U.S. manufacturing over the next three to six months, in line with most other forecasts that show a continued softening in the industrial base.

Safway Group acquires North American Coatings

Safway Group has acquired North American Coatings and its family of companies.

United Central Industrial merges with GHX Industrial

Bristol, Tenn.-based United Central Industrial Supply has merged with Houston, Texas-based GHX Industrial, forming the United Distribution Group Inc.

Benchmark Carbide opens new facility

Benchmark Carbide, a manufacturer of solid carbide end mills and reamers, opened a new facility in Springfield, Mass.

Bain Capital to acquire Apex Tool Group

Cooper Industries and Danaher Corporation have signed a definitive agreement to sell Apex Tool Group to Bain Capital for approximately $1.6 billion subject to post-closing adjustments.

Rockwell Automation buys Chinese company

Rockwell Automation has completed the acquisition of the medium voltage drives business of Harbin Jiuzhou Electric Co. Ltd.

Spectrum Brands buys Stanley hardware group

Stanley Black & Decker has entered into a definitive agreement to sell its Hardware & Home Improvement Group to Spectrum Brands Holdings Inc. for $1.4 billion in cash.

Winwholesale expands in Fla., Maine, New York

WinWholesale has opened two Winsupply locations and acquired a company that reopened as a Windustrial to expand its operations Florida, Maine and New York.

Technology orders up in August

August U.S. manufacturing technology orders totaled $470.44 million according to AMT - The Association For Manufacturing Technology.

Manufacturing jobs take hit

Manufacturing lost 16,000 jobs in September but the nation gained 114,000 jobs overall, lowering the unemployment rate to 7.8 percent.

Parker acquires Velcon Filters

Parker Hannifin Corporation signed an agreement to acquire Velcon Filters LLC, from The Sterling Group LP, a private equity firm.

Alfa Tools founder dies

Diljit S. Ahluwalia, founder and chairman of Alfa Tools and National Abrasives and Tools divisions of Alfa Mfg. Industries Inc., died on Oct. 1 following a brief illness.

Allied Motion names new CFO

Allied Motion Technologies Inc. has hired Robert P. Maida to become the chief financial officer effective Dec. 1, to replace Richard D. Smith who will retire on March 31, 2013.

3M reorganizes business groups

3M announced a realignment of its major business groups to better serve global markets and customers.

Grainger recognizes skilled trades

Grainger has named October "Skilled Trades Awareness Month" in an effort to increase the visibility of those who work in the skilled trades and to recognize the significant opportunities that exist within those fields.

Manufacturing heats up again

Following three months of decline, economic activity in the manufacturing sector expanded in September.

3M acquires Ceradyne

3M and Ceradyne Inc. have entered into a definitive agreement for 3M’s acquisition of Ceradyne for $35.00 per share.