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February 2007

Praxair to Buy Linde’s Gases Business in Mexico

Companies, Finance, Free, Gases & Welding Equipment, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors /

Praxair Inc., Danbury, CT, has agreed to buy The Linde Group’s industrial and medical gases business in Mexico. Linde’s Mexican business operates under the name of AGA S.A. de C.V. The transaction excludes the Mexican assets of the BOC Group, which Linde acquired as part of its acquisition of BOC.

The sale of Linde’s Mexican business is part of a mutual agreement between Praxair and Linde under which Linde acquired the Turkey-based industrial gases producer Karbogaz A. S. in July 2006. Karbogaz was formerly a joint venture company between Praxair and Ismail Aytemiz of Istanbul, Turkey.

AGA S.A. de C.V. has sales of about $75 million in fiscal 2006.

The acquisition of AGA S.A. de C.V. will increase our presence in the metropolitan area of Mexico City and place …

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Rexel Takes First Steps Toward IPO

Companies, Electrical, Free, News, Subscriber Only, Top Distributor Sectors /

Paris-based Rexel, a global electrical distributor, has filed regulatory documents with France’s market regulator,&nbsp ; AMF,&nbsp ; in the first step towards a possible listing of Rexel on Euronext Paris. (The filing, found here by MDM on AMF’s Web site, is in French.)


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Rexel was bought about two years ago by a group of private equity firms, including Merrill Lynch, Eurazeo and Clayton, Dubilier & Rice. A spokesman for Rexel told Agence France-Presse that the filing made with the …

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Industrial Distribution Group Sales Up 2.9% in 2006

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Industrial Distribution Group, Inc. Atlanta, GA, reported sales of $547.9 million in 2006, up 2.9% on an organic basis. Profit was $6.8 million for 2006, compared with $5.4 million in 2005.


Revenue for the fourth quarter 2006 was $131.6 million, a 1.1% increase from $130.1 million in 2005. Profit for the fourth quarter of 2006 was $1.9 million compared with the 2005 profit of $1.5 million.


For the fourth quarter 2006, revenue from the Flexible Procurement Solutions(tm) (FPS) services, including storeroom management, was $80.5 million, or 61.2% of total revenue compared to $74.91 million, or 57.6% of total revenue in the prior-year period, reflecting a growth rate of 7.5%.


Total FPS revenue in 2006 …

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Hagemeyer Posts Profit, Organic Growth of 11.5% in ’06

Companies, Electrical, Free, News, Subscriber Only, Top Distributor Sectors /

Netherlands-based diversified distributor Hagemeyer NV reported sales of 6.22 billion euros (US$8.17 billion) in 2006. Organic growth was 11.5%. Profit for the year was 140 million euros (US$183.8 million), compared with a net loss of 58 million euros (US$76.1 million) last year.


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A strong global economic environment and high copper cable prices had a positive impact, said CEO Rudi de Becker. This is the first in three years that Hagemeyer has recorded a net gain. Hagemeyer’s turnaround has been successfully completed and we are now entering a new phase,” he said, “one focused on profitably growth – both on our own and through judicious acquisitions.”


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Overall organic growth in the Professional Products and Services division was …

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HD Supply Hits $12.07B in 2006

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HD Supply reported sales of $12.07 billion in fiscal 2006, an increase of 161.6% over 2005. Most of that growth was driven by the almost $4 billion in acquisitions made in the past year.


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HD Supply bought diversified distributor Hughes Supply last year at a premium of $3.4 billion. Hughes had sales of $5.4 billion in 2005.


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In 2006, the retail division had sales of $79 billion, up 2.6%.


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Overall, sales at The Home Depot were $90.8 billion, 11.4% over last year, with profit at $5.8 billion. Comparable store sales for the year were down 2.8%.


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In the fourth quarter 2006, sales for HD Supply grew by 64.4% to $2.9 billion, reflecting sales from acquisitions.


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Home …

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Huttig Building Products Closes NY DC

Building Materials/Construction, Free, News, Subscriber Only, Top Distributor Sectors /

Huttig Building Products, St. Louis, MO, distributor of millwork, building materials and wood products, has closed its distribution facility in Hauppauge, NY, as part of the company’s effort to downsize in response to the recent downturn in the housing market.


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About 30 jobs will be eliminated.


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While we continue to believe the Long Island, NY, market has long-term potential for more localized distribution of millwork and specialty building products, unfortunately now is not the time for making the additional investments that would be required in today’s market environment, said President and CEO Jon Vrabely.


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Huttig has 41 distribution centers serving 46 states. It serves mostly building materials dealers, …

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Lone Star Fasteners Continues Expansion in UK

Fasteners, Finance, Free, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors /

Lone Star Fasteners, Houston, TX, has acquired LWD Precision Engineering Co. Ltd., a manufacturer of precision engineered components for the global oil and gas industry, for $6 million. LWD, based in Leeds, UK, manufactures precision machined components for valves, actuators and other related critical applications.


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“The purchase of LWD is our latest step in the strategic expansion of Lone Star’s product and geographic market coverage, said Lone Star CEO Bruce Ross.


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The acquisition of LWD follows Lone Star’s June 2006 acquisition of Leeds-based Grange Gaskets, a provider of standard and specialty gaskets, and related machined parts.&nbsp ; Tony Sitek, managing director of Lone Star’s Grange subsidiary, will assume overall management …

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Genuine Parts Company Sales Grow 7% in 2006

Companies, Free, News, Power Transmission/Motion Control/Fluid Power, Subscriber Only, Top Distributor Sectors /

Genuine Parts Company, Atlanta, GA, reported sales in 2006 were $10.5 billion, up 7% compared to 2005. Net income for the year was $475.4 million, an increase of 9% from 2005.


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By division:




  • Automotive: $5.185 billion in sales, up 3.4%

  • Motion Industries: $3.107 billion, up 11%

  • Office Products: $1.779 billion, up 7%

  • Electrical/Electronic: $408 million, up 19%

In the fourth quarter ended Dec. 31, 2006, sales increased 6% to $2.54 billion.


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In the fourth quarter, Automotive Group sales were up 2%, Motion Industries up 11%, EIS (Electrical/Electronics Group) up 17%, and SP Richards, the office products group, up 4%.

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Altra Industrial to Buy TB Wood’s

Finance, Free, Mergers & Acquisitions, News, Power Transmission/Motion Control/Fluid Power, Subscriber Only, Top Distributor Sectors /

Altra Holdings, Inc., Quincy, MA, has agreed to buy power-transmission product manufacturer TB Wood’s Corporation, Chambersburg, PA, for $24.80 a share.


TB Wood’s, with sales of $118.9 million in 2006, will become a fully owned subsidiary of Altra.

“TB Wood’s is a great fit with the existing Altra platforms and meets our disciplined acquisition philosophy perfectly, said Michael L. Hurt, chairman and CEO of Altra. “The acquisition of TB Wood’s broadens our growing coupling product line and adds engineered belted drive systems as well as adjustable speed electronic drives and systems to our product portfolio.”


TB Wood’s offering of elastomeric couplings fills a gap for Altra and will expand engineered coupling revenues by more than 50%. …

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Canadian Manufacturers End Year on Positive Note

Economic Trends, Free, News, Research & Analytics, Subscriber Only /

Taken from Statistics Canada


Canadian manufacturers ended&nbsp ; 2006&nbsp ; on a positive note as factory shipments increased for the second month in a row in December, thanks to strength in the transportation equipment sector.


The year-end rally was not enough to offset several months of weak performances earlier in the year. As a result, total shipments for&nbsp ; 2006&nbsp ; as a whole edged down&nbsp ; 0.6% to&nbsp ; $587.4&nbsp ; billion from the peak level in&nbsp ; 2005.


December’s increase was widespread, with&nbsp ; 13&nbsp ; sectors representing&nbsp ; 74% of total output improving. On a monthly basis, factories shipped goods worth an estimated&nbsp ; $49.7&nbsp ; billion in …

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USESI to Buy Rahway Electric Supply

Electrical, Finance, Free, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors /

US Electrical Services, LLC, Exton, PA, has agreed to buy Rahway Electric Supply Co., Inc. and its subsidiary Asbury Park Electric Supply. Rahway/Asbury has been supplying electrical contractors in Northern and Central New Jersey for almost 27 years.&nbsp ;


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“Rahway/Asbury is a perfect fit for USESI Mid-Atlantic, said Greg Griswold, president, USESI Mid-Atlantic Region.”The markets they serve enhance the coverage of our business, and their focus on high levels of customer service will help us continue to meet the needs of our customers wherever they are.”


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US Electrical Services, LLC, is a distributor of electrical products and related services.



Related …

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Wholesale Prices Down 0.6% on Energy Prices

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The Producer Price Index for Finished Goods declined 0.6 percent in January, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported. This decrease followed a 0.9-percent advance in December and a 1.8-percent jump in November. At the earlier stages of processing, prices for intermediate goods moved down 0.7 percent compared with a 0.5-percent increase in the prior month. The crude goods index decreased 6.3 percent after rising 2.8 percent in December.


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Among finished goods, prices for energy goods fell 4.6 percent in January following a 2.2-percent rise in the prior month. The rate of increase in the finished consumer foods index slowed to 1.1 percent in January from 1.5 percent in December. By contrast, prices for finished …

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Housing Starts Fall 14.3% From December

Building Materials/Construction, Economic Trends, Free, News, Research & Analytics, Subscriber Only, Top Distributor Sectors /

Privately-owned housing starts fell 14.3% in January, compared with the revised December estimate. Starts were down 37.8% below the January 2006 rate. Single-family in January were 11.2% below the December figure. The January rate for units in buildings with five units or more was 276,000.



Privately-owned housing units authorized by building permits in January were down 2.8% from the revised December rate, and 28.6% below the January 2006 estimate. Single-family authorizations were 4% below the December figure. Authorizations of units in buildings with five units or more were at a rate of 370,000 in January.


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Privately-owned housing completions in January were at a seasonally adjusted annual rate of 1,880,000, roughly even with the revised …

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Rexnord Sales Up 7% in 3Q 2007

Electrical, Free, News, Power Transmission/Motion Control/Fluid Power, Subscriber Only, Top Distributor Sectors /

Rexnord LLC, Milwaukee, WI, power transmission and water management products supplier, reported sales of $283.1 million for the third quarter ended Dec. 30, 2006, up 7% from the prior-year period. &nbsp ; Income from operations grew 8.3% over the prior year to $18.2 million.


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Sales were impacted by the accident Dec. 6 at its Canal Street facility and the business interruption by about $15 to $20 million in sales.


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Rexnord reported overall positive trends in its business, with solid end markets. Order growth in the third quarter was 4.6%, slightly lower than the first six months of the fiscal year. The backlog sits at $386.6 million, 26% higher than the beginning of the fiscal year.


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Since the end of the quarter, …

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Barnes Distribution Sales Up 16% in 2006

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Barnes Group Inc. announced 2006 sales of $1.3 billion, up 14% from $1.1 billion in 2005. Profit was $73.8 million, up 54% from the year before.


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Sales for the fourth quarter were $328.8 million, up 19% from the prior-year period. Income was $18.5 million, up 83%.


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All three of Barnes’ business units recorded double-digit sales growth in the fourth quarter.


Full year 2006 sales at Barnes Distribution were $526.9 million, up 16% from $453.8 million in 2005.


Fourth quarter 2006 sales at Barnes Distribution were $141.6 million, up 26% from the same period last year. Driving the fourth quarter 2006 sales growth were broad-based increases in Barnes Distribution North America, including double-digit increases in …

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Machine Tool Consumption Up 26.8% in 2006

Economic Trends, Free, News, Research & Analytics, Subscriber Only /

December U.S. manufacturing technology consumption totaled $321.35 million, according to The Association For Manufacturing Technology and the American Machine Tool Distributors’ Association. This total, as reported by companies participating in the USMTC program, was down 6.9% from November, and down 0.5% from the total of $322.81 million reported for&nbsp ; December 2005. With a year-end total of $3,889.75 million, 2006 was up 26.8% compared with 2005.


These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.


2006 was an exceptional year, with the highest U.S. consumption since 2000, says John B. Byrd III, AMT President. Growth should continue in 2007, at a more modest pace, as …

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Ryerson Sales Up 2.2% from 2005

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Ryerson Inc., Chicago, IL, reported sales of $5.9 billion for 2006, up 2.2% from 2005. Profit was $71.8 million, compared with $98.1 million in 2005.


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In the fourth quarter, Ryerson recorded a net loss of $4.4 million, compared with a profit of $6.3 million in 2005. Sales in the fourth quarter were $1.4 billion.


Fourth quarter 2006 volume, as anticipated, reflected the typical year-end slowdown, exacerbated by high inventories in a variety of products throughout the supply chain,” said CEO Neil S. Novich. “Additionally, this excess industry-wide inventory, coupled with an extraordinary run up in stainless steel prices, due to nickel surcharges (up an average of about $700 per ton from the third …

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St. Gobain’s Building Distribution Unit Buys 6 Companies

Building Materials/Construction, Chemicals & Plastics Distribution, Finance, Free, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors /

Saint-Gobain’s Building Distribution Sector has acquired Galvano Groothandel BV (the Netherlands), Schulte Tiefbau (Germany) and four companies belonging to the Norman group (Channel Isles).

Galvano Groothandel BV is a plumbing-heating wholesaler in the Netherlands. With estimated sales of 84 million euros in 2006, the company has 177 employees. Through this acquisition, Saint-Gobain Building Distribution establishes a foothold on the Dutch distribution market for plumbing-heating products and strengthens its European Division dedicated to this market.

Germany’s specialist civil engineering distributor, Schulte Tiefbau operates 13 branches specializing in water supply. With sales of 62 million euros …

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B& D Industrial Buys Simco Technologies

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B & D Industrial, Macon, GA, a regional industrial distributor, has acquired Simco Technologies, an Atlanta-based distributor of industrial electronics, sensors, drives, motion control, machine safety and machine vision systems.


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The B & D Industrial holding company provides industrial products and services to mining, manufacturing, engineering and OEM companies from its almost 40 facilities in Georgia, Florida, North and South Carolina, Tennessee and Alabama.


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Simco Technologies’ industrial automation products will complement the other areas of focus for B & D Industrial. Simco operates out of its branch …

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Ferguson Acquires Grif-Fab

Finance, Free, HVACR, Mergers & Acquisitions, News, Plumbing Products & PVF Distribution, Subscriber Only, Top Distributor Sectors /

Ferguson has acquired Grif-Fab Corporation, a distributor and fabricator of fire protection systems with three locations in Colorado, Arizona and New Mexico. In the year ended Nov. 30, 2006, Grif-Fab had revenue of $28.3 million.


UK-based Wolseley plc, Ferguson’s parent company, has recently made three other bolt-on acquisitions in addition to the Grif-Fab buy. The four in total will add 29 million pounds, or $37.7 million, to annual revenues.


Since Aug. 1, 2006, Wolseley has made 33 acquisitions in Europe and North America totaling 342 million pounds, or $458 million.


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