AD member sales up 8 percent
Affiliated Distributors reported 8% growth across all AD divisions in the third quarter.
Total sales for the first three quarters of the year were $23 billion. All AD Divisions are projected to accomplish another record breaking year in 2014 by exceeding $30 billion in sales.
By division, AD member third quarter sales grew as follows: U.S. Electrical up 13%; Canadian Electrical up 14%, Industrial up 2%; Plumbing up 13%; PVF was flat in a down market, HVAC up 7%; and Building Materials up 18% year over year.
“AD continues to operate efficiently by leveraging our economies of scale and utilizing our advanced treasury function,” said Bill Weisberg, AD’s chairman and CEO. “The investment we earn, in spite of the current short-term interest rate environment, not only covers all of the organization expenses, it enables us to invest in innovative programs and services to help AD independent market leaders fight the battles of today and tomorrow.”
In the first three quarters of 2014, AD members hired 2,221 new employees, opened over 71 new locations and made 15 acquisitions.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
