August 2007 - Page 4 of 5 - Modern Distribution Management

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August 2007

Motion Industries Buys Gerrish Bearing Co.

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

Motion Industries, distributor of industrial maintenance, repair and operation replacement parts, has acquired Gerrish Bearing Company. Gerrish has locations in Seattle and Tacoma, WA, and is a distributor of bearings, power transmission and industrial products.

The acquisition of Gerrish Bearing Company will allow Motion Industries to continue our penetration of the market with bearings and power transmission products as well as industrial products throughout the area,” said Bill Stevens, Motion Industries president and CEO.

With 2006 sales of $3.1 billion, Motion Industries is a distributor of bearings, power transmission, electrical and industrial automation, hydraulic and industrial hose, hydraulic and pneumatic components, industrial supply products, and …

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Rexnord Sales Up in 1Q

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

Rexnord LLC reported sales for the first quarter ended June 30, 2007, were $448.2 million, an increase of 55.2% thanks to acquisitions over the same period a year ago. Power Transmission sales were $309.8 million, up 7.4%, and Water Management sales were $138.4 million.
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Core sales growth was 9.2% on a pro-forma basis.
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Rexnord reported that the end markets in both Power Transmission and Water Management have held up well in the first quarter.
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Rexnord ended the quarter with a backlog in Power Transmission of $430 million, an increase of 7% from March 2007, and 23% compared with a year ago. In the Water Management platform, Rexnord saw strength in the end-markets of commercial construction as well as civil/municipal …

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Powers Fasteners Indicted in Big Dig Tunnel Collapse

Fasteners, Free, Legal Issues in Wholesale Distribution, News, Operations, Subscriber Only, Top Distributor Sectors /

Power Fasteners Inc., Brewster, NY, a global fasteners manufacturer, has been indicted by a Grand Jury in connection with the July 10, 2006, ceiling panel collapse that killed one person in the I-90 Connector Tunnel (Big Dig tunnel) in Boston, MA. Powers has been charged with one count of involuntary manslaughter.
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Milena Del Valle died when a suspended concrete ceiling panel collapsed on the vehicle she and her husband were traveling in. After a 13-month investigation, authorities determined that Powers’ epoxy was used to suspend the concrete ceiling in that section of the tunnel.

Federal authorities allege that the cause of the ceiling collapse was the use of Power-Fast Fast Set epoxy product in the anchor system. They say the type of epoxy used was found to be …

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BlueLinx Sales Fall 21.5% in 2Q

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

BlueLinx Holdings Inc., Atlanta, GA, distributor of building products in North America, reported profit in the second quarter ended June 30, 2007, of $5.4 million, compared with profit of $9.6 million in the prior-year period.
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Sales fell 21.5% to $1.08 billion in the second quarter. The decline reflects a 25.1% drop in structural product sales and a 17% sales decline in specialty products. About two-thirds of the sales decline in structural products resulted from unit volume, which fell 17.1% from a year ago. The specialty products sales decrease was largely due to unit volume, which declined 15.3%.
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Overall second-quarter unit volume for the company’s estimated weighted end-use markets fell 12.8% from the prior year, driven by a 21.8% decline in housing …

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Saint-Gobain Acquires Maxit from HeidelbergCement

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

Saint-Gobain has acquired the Maxit group, a manufacturer of industrial mortars, from HeidelbergCement. Maxit reported sales of & euro; 1,237 million in 2006 (US$1.7 billion).&nbsp ;

With this transaction, Saint-Gobain builds its presence in Construction Markets, doubling its size in industrial mortars (which, in 2006, represented & euro; 1 billion (US$1.37B) in products sold under the Weber trademark) and in particular strengthens its ETICS (External Thermal Insulation Composite System) solutions.

The companies complement each other geographically -Weber is strong in and Southern Europe, and well established inEastern Europe . Maxit group is a player in and inScandinavia . In addition, the two groups …

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Hexcel Sells Line to JPS Industries

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

Hexcel Corporation, Stamford, CT, has completed the sale of its remaining assets of U.S. Electronics, Ballistics & General Industrial reinforcement product lines to JPS Industries Inc.
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JPS has paid $62.5 million in cash to Hexcel and may make an additional $12.5 million in payments dependent upon future sales of the Ballistics product line.
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Hexcel Corporation is an advanced structural materials manufacturer. It develops, manufactures and markets lightweight, high-performance structural materials, including carbon fibers, reinforcements, prepregs, honeycomb, matrix systems, adhesives and composite structures for use in commercial aerospace, space and defense, and industrial …

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Emerson Sales Up 13% in 3Q

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

Emerson, St. Louis, MO, reported sales for the third quarter ended June 30, 2007, were $5.9 billion, an increase of 13% from the same period a year ago. Organic growth was 9%. Four of Emerson’s five business segments reported double-digit sales growth in the quarter.
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Profits were up 18% to $574 million.
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For the nine months ended June 30, 2007, sales were $16.4 billion, an increase of 12% over the same period last year. Profit increased about 18% over the prior-year period. …

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Milacron Reports 2Q Results (Corrected)

Free, News, Subscriber Only, Top Distributor Sectors /

Milacron Inc., Cincinnati, OH, supplier of plastics-processing technologies and industrial fluids, reported a net loss for the second quarter ended June 30, 2007, of $0.1 million. Sales were $197 million.

CEO Ronald D. Brown said: We continue to achieve positive results from our key sales growth initiatives: expanding our presence in emerging markets, while focusing more attention on aftermarket services in our traditional markets of North America and Western Europe. Milacron’s orders from emerging markets are up 23% over last year and now constitute nearly one-quarter of our total business.&nbsp ; And our aftermarket sales have grown another 6% so far this year.”
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Sales and earnings growth in overseas markets continued to offset the ongoing weakness in the …

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Kaman Taps Former Hughes COO as New President

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

Kaman Corp., Bloomfield, CT, has tapped Neal J. Keating as the next president and chief operating officer of the company, effective Sept. 17, 2007. Keating will assume the additional role of CEO on or before Jan. 1, 2008.
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Keating, 51, will succeed Paul R. Kuhn, currently chairman, president and CEO. He is scheduled to retire on Feb. 21, 2008. Kuhn will retain the title of chairman until the date of his retirement.
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Keating was recently COO of Hughes Supply, a $5.4 billion industrial distributor that was sold to HD Supply in January 2006. He started his career with Rockwell Automation, rising over a 24-year period to executive vice president and COO of Rockwell Collins Commercial …

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Wolseley Expands in U.S. Fire Protection Market

Companies, Free, News, Subscriber Only /

Wolseley plc, UK-based distributor of plumbing and heating products to professional contractors and a supplier of building materials, announced two bolt-on acquisitions for an aggregate consideration of 9 million pounds Sterling (US$18.72M). In a full year, these bolt on acquisitions are expected to add approximately 14 million pounds (US$29M) to total revenue.
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Since the beginning of the financial year on Aug. 1, 2006, a total of 43 bolt-on acquisitions in Europe and North America have been completed. These 43 acquisitions are expected to add 671 million pounds (US$1.4B) to Group revenue in a full year.
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North America
On July 30, 2007, Ferguson acquired Fire Fab Inc. Fire Fab is a distributor and fabricator of fire safety and suppression …

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Interline Sales Grow 33.1% in 2Q

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

Interline Brands Inc., Jacksonville, FL, distributor of maintenance, repair and operations products, reported sales in the second quarter ended June 29, 2007, were up 33.1% over the same period a year ago.
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Sales for the quarter were $313.2 million. Average organic daily sales grew 4.2%.
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Though much of its overall growth was a result of the acquisition of AmSan in July 2006, Interline also reported strong sales performance in its facilities maintenance MRO businesses, which grew at 17.8%.
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The professional contractor business fell 9.6%, and Interline’s specialty distributor business sales declined 10.6% from the comparable period.
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We invested approximately $1 million during the quarter in organic growth initiatives. We added field …

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Kaman Sales Up 9.2% in 2Q

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

Kaman Corp. reported sales for the second quarter 2007 were $320 million, an increase of 9.2% from the second quarter 2006. Profit was $10.1 million, an increase of 34.4%.
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In the first half of 2007, the company reported sales of $637.7 million, an increase of 8.1% over the same period last year. Profit was $20.1 million, up 50.2%.
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Aerostructures sales for the second quarter were $23.3 million, compared to $17.1 million for the second quarter of 2006. Segment net sales for the first half of 2007 were $48.5 million, compared to $34 million for the first half 2006.
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Fuzing sales for the second quarter were $24 million, compared to $14.6 million in the same period a year ago. The increase was due primarily to a significant increase in shipments of …

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Fairmont Supply Co. Buys Piping and Equipment Inc.

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

Fairmont Supply Company, Canonsburg, PA, distributor of maintenance, repair and operating (MRO) supplies, has acquired Florida-based Piping and Equipment Inc.
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Piping and Equipment Inc. is a pipe, valve and fittings supplier with eight locations in Florida, Alabama, Louisiana and Texas. As a wholly-owned subsidiary of Fairmont Supply, Piping and Equipment will continue to operate under its current name.
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The president of Fairmont Supply Company, Rich Layton, said: This acquisition supports our long-term business plan to strategically grow within key markets throughout the U.S.”
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Fairmont Supply Company operates 15 service center facilities and nine on-site stores management locations across the U.S. and serves customers in the mining, steel, …

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Report: Rexel Has 30 Potential Acquisitions in Sight

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

Forbes is reporting that Rexel Chairman Jean-Charles Pauze said in the electrical distributor’s second-quarter conference call that the company has 30 potential acquisitions in its sights, with total revenues of 1 billion euro.
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The list of potential acquisitions are weighted toward emerging markets.
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Thanks to acquisitions, Rexel’s second-quarter rose nearly 30% to US$3.73 billion (2.729 billion euros). Organic growth was 3.3%.

Sales in the first half of 2007 were up 30% to US$7.3 billion (5.3 billion euros). Organic growth was 4.5%.

Strong sales in Europe and Asia-Pacific more than offset the slowdown in North America,” Pauze said in a release.

By region:

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Barnes Distribution Sales Up Slightly

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Barnes Group Inc., Bristol, CT, reported sales increased 16% to $360 million in the second quarter ended June 30, 2007. Profit was up 58%.

Sales at Barnes Aerospace were $92.4 million in the second quarter 2007, up 25% as original equipment manufacturer sales of $62.3 million grew 21% and aftermarket sales of $30.1 million were up 36%.
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Sales at Barnes Distribution were $150.7 million in the second quarter of 2007, up 20%, including $22.2 million of incremental sales from the KENT acquisition and organic sales growth of $1.3 million. The modest increase in organic sales is primarily a result of Corporate and Tier II account sales increases of 10% and 24%, respectively. Operating income at Barnes Distribution was $7.5 million in the second quarter, down 16% from …

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IDG Sales Fall in 2Q

Free, News, Subscriber Only, Top Distributor Sectors /

Industrial Distribution Group, Inc., Atlanta, GA, reported second-quarter sales were $132.6 million, down from $137 million in the same period a year ago. Profit was $0.1 million.
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For the six months ended June 30, 2007, sales were $267.7 million, compared with $277.3 million in the same period a year ago. Profit was $1.5 million, about half the profit of a year ago.
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For the second quarter of 2007, revenues from Flexible Procurement Solutions, IDG’s integrated supply business, were $81.8 million, an increase of 1.7%. Revenue from FPS comprised 61.7% of IDG’s total sales for the second quarter of 2007 compared to 58.7% for the comparable period of 2006.
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Year-to-date 2007, FPS revenues increased $1.9 million or 1.2%. At June 30, 2007, the company …

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Curtiss-Wright Acquires Controls Supplier for $102M

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

Curtiss-Wright Corporation, Roseland, NJ, has acquired Benshaw Advanced Controls & Drives, Pittsburgh, PA, for $102 million in cash.
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Benshaw is a supplier of motor control and protection product solutions for original equipment manufacturers (OEMs) and industrial customers. The business will become part of Curtiss-Wright’s Flow Control segment.
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The addition of Benshaw to the Curtiss-Wright family of companies provides a major opportunity to expand our product offerings in the commercial power, control electronics and systems markets,” said Curtiss-Wright CEO Martin R. Benante. “Benshaw’s expertise in electronic motor control and protection technology will support our growth in high speed motors and AP1000 pumps, as well as providing a low-cost manufacturing …

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Airgas Buys Gartech

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

Airgas, Inc., Radnor, PA, has acquired Gartech Refrigerant Reclamation Center, Inc., with locations in Garland, TX, and Oklahoma City, OK.
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Airgas Specialty Products, in the distribution of industrial ammonia, process chemicals, and refrigerants, has integrated Gartech’s operations, which generated almost $2 million in revenue in 2006.
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Airgas, Inc. is a distributor of industrial, medical, and specialty gases, and hardgoods, such as welding equipment and supplies. It has more than 1,100 locations, including branches, retail stores, gas fill plants, specialty gas labs, production facilities and distribution centers in the …

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Canadian Distributor Sales Rise Slightly in May

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

Source: Statistics Canada
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Following April’s sharp decline, Canadian wholesale sales posted a modest rebound in May with most sectors registering gains.

Overall sales rose&nbsp ; 0.6% to&nbsp ; $43.1&nbsp ; billion in May, offsetting some of April’s large drop (-3.0%). Five of the seven wholesale sectors reported higher sales in May, with the largest gains observed in the machinery and electronic equipment (+2.1%) and other products” (+1.9%) sectors. More modest rises were recorded by wholesalers of building materials, personal and household goods and automotive products.

These gains were partially offset by lower sales in the food, beverages and tobacco products sector, which posted its first decline of&nbsp ; 2007, and the farm products …

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U.S. Manufacturing Shipments Down in June

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

New Orders
New orders for manufactured durable goods in June increased $3.0 billion or 1.4% to $217.1 billion, the U.S. Census Bureau announced. This was the fourth increase in the last five months and followed a 2.3% May decrease. Excluding transportation, new orders decreased 0.5%. Excluding defense, new orders increased 1.9%.
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Shipments
Shipments of manufactured durable goods in June, down following three consecutive monthly increases, decreased $2.3 billion or 1.1% to $212.5 billion. This followed a 0.6% May increase.
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Unfilled Orders
Unfilled orders for manufactured durable goods in June, up 25 of the last 26 months, increased $10.7 billion or 1.5% to $736.5 billion. This was at the highest level since the series was first …

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