May 2007

Kaman Sales Grow 7% in 1Q

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

Kaman Corp., Bloomfield, CT, reported sales for the first quarter 2007 were up 7% to $317.3 million. Profit was $10.1 million, up 70% from the same period a year ago.
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Kaman attributed the sales gain to improved performance in its Aerospace Segment. Aerospace Segment sales were $93.1 million, up 26.5% from last year.
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Industrial Distribution Segment sales for the first quarter of 2007 were $173.4 million, up 1.7% from the first quarter of 2006.
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Kaman reported the segment experienced a modest sales increase in a less certain economic environment compared to the prior year quarter. Despite the increase in sales, the segment experienced a decrease in operating income because the sales increase was not sufficient to cover increases in normal …

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GE Supply Now Named Gexpro

Companies, Electrical, Fasteners, Finance, Free, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors / MDM Staff

GE Supply will now be named Gexpro. The name change follows the acquisition of GE Supply by Rexel, Paris-based distributor of electrical supplies. Gexpro, a $2.7 billion unit, will continue to operate as an independent Rexel banner in the U.S.
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The brand will be formally announced May 6, 2007, at the National Association of Electrical Distributors meeting in Washington, D.C.
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Gexpro, Shelton, CT, is a full-line, international distributor of electrical parts, power generation products, voice and data equipment, fasteners and security equipment. In Ireland, the company will continue to do business as Kellihers …

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BlueLinx Records Net Loss for 1Q

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

BlueLinx Holdings Inc., Atlanta, GA, distributor of building products in North America, reported sales fell 30.5% to $957.1 million. The company recorded a net loss for the quarter of $189,000, compared with a profit of $9.8 million in the same period a year ago.
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We continued to operate in a challenging business environment during the first quarter,” CEO Stephen Macadam said. “The ongoing cyclical decline in housing starts and lower wood-based structural product prices, the key grades of which ended the quarter about 26% below year-earlier levels, combined to make the first quarter a continuation of one of the weakest business environments our industry has experienced in many years.”
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Macadam said that BlueLinx does not see any signs of significant …

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Interline Brands Sales Grow 31.5% in 1Q

Companies, Facilities Maintenance (MRO), Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Interline Brands, Inc., Jacksonville, FL, distributor and direct marketer of maintenance, repair and operations products, reported sales for the first quarter of 2007 increased 31.5% over the comparable 2006 period.
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Sales for the quarter ended March 30, 2007 were $295.4 million. Average organic daily sales growth for the first quarter was 3.2%. Profit was $9.4 million, compared with $8.4 million in the year-ago period.
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Michael Grebe, chairman and CEO, said Interline’s facilities maintenance business posted strong sales growth, despite softness in the pro contractor market, which fell 6.2%. The facilities maintenance businesses grew by 14.1% in the quarter. Grebe expects the pro contractor and specialty distributor end-markets to continue to be difficult …

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$3.2B Lab Supplier VWR International Sold

Chemicals & Plastics Distribution, Companies, Finance, Free, Mergers & Acquisitions, News, Safety Products, Subscriber Only, Top Distributor Sectors / MDM Staff

Lab supplier VWR International, Inc., West Chester, PA, a portfolio company of Clayton, Dubilier & Rice, Inc., will be acquired by Madison Dearborn Partners.
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VWR had revenue of more than $3.2 billion in 2006. It is the second largest distributor in the global research lab supply industry, with customers in pharmaceuticals, biotechnology, education and industry.
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Madison Dearborn Partners is a private equity investor in the U.S.
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VWR announced on March 12, 2007 that it was exploring strategic options for the …

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DXP Enterprises to Buy Delta Process Equipment

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

DXP Enterprises, Inc. has agreed to buy Delta Process Equipment, Inc., a Southeastern U.S. supplier of industrial and municipal pump equipment and services, for $10 million.

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The unaudited sales and EBITDA of Delta Process for calendar 2006 were approximately $23 million and $2 million, respectively.
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Delta Process’territory stretches from Louisiana to Florida and north to Tennessee. Delta Process is a full service provider of pumps, pump repair and service, pump stations, water booster stations, sewage treatment plants, blowers, process gas compressors, controls, filtration equipment, and other ancillary products. Delta Process is fully equipped with fabricating, packaging and machining capabilities.
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John Jeffery, senior vice president …

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Canada Prices Up 1.3% in March

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

Prices for petroleum and primary metal products caused prices for manufactured goods to surge in March. Raw material prices were pushed up mainly by prices for non-ferrous metals.

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From February to March, prices charged by manufacturers, as measured by the Industrial Product Price Index (IPPI), registered a fifth consecutive monthly increase. The&nbsp ; 1.3% rise in the index mainly reflected the strength of prices for petroleum and coal products and primary metal products.
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On a 12-month basis, the IPPI rose by&nbsp ; 4.8%, the strongest advance since October&nbsp ; 2004. The upward pressure came largely from higher prices for primary metal products and petroleum and coal products. The upward movement was tempered by a drop in prices for lumber and …

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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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Manufacturing Expands for Third Straight Month

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

Economic activity in the manufacturing sector expanded in April for the third consecutive month, while the overall economy grew for the 66th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.
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Manufacturing activity increased in April; the PMI reflects accelerating growth for the month. New Orders and Production improved significantly as did Employment.
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Manufacturers are now in their ninth month of inventory reduction, so supply chains are generally in balance. On the negative side, prices continue to rise at a rapid rate with metals and energy being the areas of greatest concern to buyers.
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The 11 industries reporting growth in April & mdash; listed in order & mdash; are: Wood …

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Barnes Group Renames Industrial Business Segment

Companies, Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Barnes Group Inc., Bristol, CT, has renamed its Associated Spring business segment Barnes Industrial. The Barnes Industrial business segment consists of six business units: Precision Forming; Retention Rings; Nitrogen Gas Products; Precision Valves; Engineered Springs; and Plastics. The Associated Spring brand will remain within the Engineered Springs SBU.
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The name change more accurately identifies the end markets and customers of the individual businesses within Barnes Industrial, according to a news release. The change to Barnes Industrial brings the name of the business segment in parallel with Barnes Group Inc.’s other two business segments -Barnes Aerospace and Barnes Distribution.
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Barnes Group is an international aerospace and industrial …

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OfficeSource Acquires NDI Wholesale

Finance, Free, Mergers & Acquisitions, News, Operations, Paper Products & Packaging Distribution, Subscriber Only, Top Distributor Sectors / MDM Staff

OfficeSource Inc., Denver, CO, wholesaler of office furniture, today announced it has acquired NDI Wholesale, Nashville, TN, independent office furniture wholesaler in the Southeast.
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NDI Wholesale services more than 530 active customers throughout a seven-state region, including Kentucky, Tennessee, Louisiana, Mississippi, Alabama, Georgia and Florida.
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The addition of NDI Wholesale fits our business model and strategy perfectly,” explained Todd Elmers, chairman and CEO. “It takes our coast-to-coast presence another step closer toward a full nationwide distribution network.”
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NDI Wholesale complements OfficeSource’s existing locations, products and services. NDI Wholesale dealers provide a complete array of office furniture as well as …

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