May 2, 2007

US Components Acquires Casmin Inc.

Building Materials/Construction, Companies, Finance, Free, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors / MDM Staff

US Components, Morristown, NJ, a supplier of truss and wall panels and division of Pro-Build Holdings, has acquired Casmin Inc., Leesburg, FL, a roof and floor manufacturer.
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Casmin has plants in Tavares and Lady Lake, FL. The acquisition is US Components first entry into …

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1Q GDP Growth Slows

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

Real gross domestic product -the output of goods and services produced by labor and property in the U.S. -increased at an annual rate of 1.3% in the first quarter of 2007, according to advance estimates released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.5%.
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The first-quarter preliminary” estimates, based on more comprehensive data, will be released May 31, 2007.
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The increase in real GDP in the first quarter primarily reflected positive contributions from personal consumption expenditures (PCE) and state and local government spending.
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The deceleration in real GDP growth in the first quarter primarily reflected a downturn in exports, an upturn in imports, a deceleration in PCE for nondurable goods, and a …

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Airgas Sales Up 13% in Fiscal 2007

Companies, Free, Gases & Welding Equipment, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Airgas, Inc., Radnor, PA, distributor of industrial, medical, and specialty gases, welding, safety, and related products, reported sales in the fourth quarter ended March 31, 2007, were up 14% to $854 million. Acquisitions accounted for 9% of the growth. Same-store sales increased 5%, with hardgoods up 6% and gas and rent up 5%.
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Sales in fiscal 2007 increased 13% to $3.2 billion, with same-store sales growth of 8%.
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We capped the most successful year for acquisitions in our 25-year history. The quarter included the acquisition of CFC Refimax in January and the March 9 acquisition of Linde’s divested bulk gas business, bringing our year-end total to 13 acquisitions with more than $335 million in acquired revenue,” said Airgas Chairman and CEO Peter …

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Praxair Acquires Rite Weld Supply, Inc.

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

Praxair Distribution, Inc., Danbury, CT, has acquired Rite Weld Supply, Inc. of Fort Worth, TX. Rite Weld is a regional independent distributor of industrial, medical, specialty gases and related welding equipment and supplies.
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Rite Weld operates cylinder filling plants in Gainesville and Fort Worth, TX, and three retail stores in Denton and Bridgeport, TX, and Madill, OK. The business generated sales of $14 million in 2006 and has 48 employees.
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The acquisition of Rite Weld to our existing network in North Central Texas further strengthens Praxair’s ability to serve customers throughout this important region,” said Praxair Distribution President Wayne Yakich.
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Praxair, Inc. is an industrial gases company with 2006 sales of $8.3 …

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Ahold to Sell U.S. Foodservice for $7.1B

Finance, Free, Grocery & Foodservice Distribution, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Ahold has agreed to sell U.S. Foodservice to a consortium of Clayton, Dubilier & Rice and Kohlberg Kravis Roberts & Co for $7.1 billion.
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Anders Moberg, Ahold president & CEO, said: “I am extremely pleased to be able to announce that we have reached this important milestone for U.S. Foodservice, for Ahold and for our shareholders. We have focused on restructuring U.S. Foodservice, strengthening its capabilities and restoring profitability.”
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U.S. Foodservice had 2006 net sales of $19.2 billion. It is a full-service foodservice distributor, which distributes food and related products across the U.S. to more than 250,000 foodservice customers, including restaurants, hospitals, hotels, schools, the government …

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Ryerson Sales Up 21% in 1Q 2007

Free, Metals Service Centers, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Metals service center Ryerson Inc., Chicago, IL, reported profit of $28.1 million on sales of $1.7 billion in the first quarter 2007, up 21% from the same period last year.
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“‘We were pleased with the progress we made in the first quarter of 2007,” said Neil S. Novich, president and CEO. “In the third quarter of 2006, we put in place new supply chain management and improved inventory processes. We saw the result in the first quarter of 2007 with current value of inventory down $241 million, or 15%, from the end of 2006, and we are on track to attain our goal of five turns by year-end 2007.
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“In mid-2006, we also began a project to address the profitability of five, large underperforming service centers. We …

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May 2, 2007

US Components Acquires Casmin Inc.

1Q GDP Growth Slows

Airgas Sales Up 13% in Fiscal 2007

Praxair Acquires Rite Weld Supply, Inc.

Ahold to Sell U.S. Foodservice for $7.1B

Ryerson Sales Up 21% in 1Q 2007

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