November 2007 - Page 4 of 5 - Modern Distribution Management

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November 2007

McKesson Sales Grow 9% in 2Q

Free, News, Pharmaceutical & Health Care, Subscriber Only, Top Distributor Sectors /

McKesson Corp., San Francisco, CA, reported revenues for the second quarter ended Sept. 30, 2007, were $24.5 billion compared with $22.4 billion a year ago, up 9%. Profit was up 8% to $247 million.

Year-to-date, sales are up 7% to $48.9 billion.
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In its Distribution Solutions segment, U.S. pharmaceutical distribution revenues grew 9% in the second quarter. Warehouse sales increased 5%. Canadian revenues increased 15% for the quarter, including a favorable currency impact of 8%, and medical-surgical distribution revenues were up 11% for the quarter.
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In Technology Solutions, revenues were up 36% for the quarter. Services revenues were up 52% and software and software systems revenues were up 4%. …

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STAFDA a Barometer of Channel Shifts

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

The STAFDA annual trade show offered some indicators about the emerging importance of tangential growth in distribution channels. The two-day, product-focused trade show wrapped up yesterday with more than 5,000 attendees and nearly 1,000 booths. Construction-related products -fasteners, hand and power tools, safety products -formed the core product areas. But it was what was happening beyond product that caught my attention (although there were some great new products displayed!).
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New residential construction is down, yet commercial and industrial construction markets are strong, and renovation markets look attractive. Distributors with core customers in residential contracting are more than motivated to grow the commercial and industrial construction side. The same holds …

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Hoboken Files Ch. 7 Bankruptcy Petition

Building Materials/Construction, Free, Legal Issues in Wholesale Distribution, News, Operations, Subscriber Only, Top Distributor Sectors /

After closing down earlier this week, the largest independent wood flooring distributor in the U.S. at more than $600 million in sales, Hoboken Wood Flooring LLC, Wayne, NJ, has filed a voluntary petition for Chapter 7 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware.

According to a report this week from local paper The Record, sales had fallen about 25% each month for the past year – the commercial business development manager for the company attributed the sales losses to the housing downturn, competition from manufacturers going direct, and the company’s push to expand nationally.

The latter was emphasized in a Floor Covering Weekly report published shortly after private …

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McNaughton-McKay Electric Buys German Distributor

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

Electrical distributor McNaughton-McKay Electric Co., Detroit, MI, has acquired S+S GmbH and S & D GmbH in Wegberg, Germany, the largest Rockwell Automation distributor in Germany. S+S/S & D will operate under the name of Mc-Mc GmbH, McNaughton-McKay’s German subsidiary.
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McNaughton-McKay says the acquisition was made in response to customer feedback.” It says it wanted to find “a European source for providing technical and logistical support for an increasingly complex supply chain.”
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S+S/S & D has annual revenues of $15 million.&nbsp ; They have sales locations throughout central and southern Germany.&nbsp ; The S+S/S & D operation serves production equipment OEMs that ship their finished Smachines to U.S.-based companies.
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McNaughton-McKay …

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Emerson Organic Growth at 7% in 2007

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

Emerson, St. Louis, MO, reported sales for fiscal 2007 were $22.6 billion, an increase of 12% from the prior year. This was a result of 7% underlying sales growth. Currency translation added more than 2% and acquisitions, net of divestitures, added nearly 3% to reported sales growth.
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Sales for the fourth quarter ended Sept. 30, 2007, were $6.1 billion, an increase of 11% over the $5.5 billion reported in the same period last year. The company achieved underlying sales growth in the quarter of 7% excluding increases of 3% due to favorable currency exchange rates and 1% from acquisitions, net of divestitures.

Process Management in 2007 reported sales were up 17% to $5.7 billion. Underlying sales growth for the year was 11%, which excludes favorable impacts …

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VWR International Buys Dutch Distributor

Finance, Free, Mergers & Acquisitions, News, Subscriber Only /

VWR International, LLC, West Chester, PA, a distributor to the global research laboratory industry, has acquired Omnilabo International B.V., a Netherlands-based laboratory supply distributor. Omnilabo has 42 employees based in the Netherlands and Belgium.

Omnilabo since 2003 has been owned by Nimbus, a Dutch private equity firm. The business is a distributor of laboratory and clinical consumables, life science reagents and chromatography products.
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VWR International has annual sales of $3.3 billion. VWR’s principal customers are major pharmaceutical, biotechnology, chemical, technology, clinical, food processing and consumer product companies, universities and research institutes, governmental agencies, environmental testing organizations, and primary and …

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Airgas Buys Central Welding Supply

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

Airgas, Inc., Radnor, PA, has acquired Central Welding Supply Inc., an industrial packaged gas distributor with three locations south of Dallas, TX.&nbsp ; Also effective Nov. 1, 2007, it has acquired Texas Industrial Gas Inc., with one location in Houston, TX.
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Both acquired businesses, which generated nearly $6 million in revenues in calendar 2006, have been integrated with Airgas Southwest, one of the regional companies within Airgas. The transactions bring the total number of acquisitions by Airgas in fiscal 2008 to 10, with acquired annual sales of $400 million.
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Airgas Inc. is a U.S. distributor of industrial, medical, and specialty gases, and hardgoods, such as welding equipment and supplies. Airgas is also a distributor of safety products, a producer …

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Regal Beloit Buys Alstom’s India Business

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

Regal Beloit Corp., Beloit, WI, has acquired Alstom’s motors and fans business in India. The business is in Kolkata, India, and manufactures and markets low and medium voltage industrial motors and fans for the industrial and process markets in India.
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The business will be reported as part of the Company’s Electrical Segment.
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Regal Beloit expects the business to add $10 million and $80 million to sales for the fourth quarter of 2007 and full year 2008, respectively.
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According to Henry W. Knueppel, Chairman and CEO of Regal Beloit, The acquisition of the Alstom India industrial motor and fan business is another significant step in the execution of our Globalization initiative. We intend to continue to improve our global commercial presence to …

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3M Agrees to Buy Bondo Corp.

Chemicals & Plastics Distribution, Companies, Free, News, Subscriber Only, Top Distributor Sectors /

3M, St. Paul, MN, has agreed to acquire Bondo Corp., a manufacturer of auto body repair products for the automotive aftermarket and various other professional and consumer applications.
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Bondo brand products include body filler, fiberglass repair materials, under coatings, and adhesives. Bondo products are sold to the auto body professional market through auto body paint specialty stores in addition to mass merchandisers and auto parts retailers.
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The addition of Bondo enhances our professional and retail auto body product lines,” said Ian Hardgrove, vice president and general manager, 3M Automotive Aftermarket Division.
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3M’s Automotive Aftermarket Division products include abrasives and accessories, masking tapes, panel bonding adhesives, …

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Milacron Records Net Loss in Quarter

Free, News, Subscriber Only, Top Distributor Sectors /

Milacron Inc., Cincinnati, OH, global supplier of plastics-processing technologies and industrial fluids, reported a net loss for the quarter ended Sept. 30, 2007, of $4.5 million, on sales of $204 million.
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This compared favorably to the company’s net loss in the third quarter of 2006 of $7.2 million.
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Manufacturing margins in the third quarter improved to 19.7% from 18.7% a year ago, primarily as a result of continued cost-reduction and sourcing initiatives. New orders of $203 million were up slightly from $201 million in the third quarter of 2006 due to currency translation effects.
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Our efforts to expand our presence in faster-growing, emerging markets continue to pay dividends,” said Ronald D. Brown, president and CEO. “Our orders from …

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SYSCO Sales Up to $9.4B in 1Q

Companies, Free, Grocery & Foodservice Distribution, News, Subscriber Only, Top Distributor Sectors /

SYSCO Corp., Houston, TX, reported sales in its first quarter ended Sept. 29, 2007, grew 8.5% to $9.4 billion from the same period last year. Sales from acquisitions in the past 12 months contributed 0.2% to the sales growth.
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Food cost inflation, as estimated by the change in SYSCO’s cost of goods, was 5.9% for the quarter.
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Profit was $267 million, up from $230 million in the same period a year ago, an increase of 16%.
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SYSCO reported that it saw unusually high food cost inflation” for the second consecutive quarter. (See 3Q Inflation Trends by Commodity Group) These conditions contributed to a 21 basis point reduction in gross margins and a 51 basis point decrease in operating …

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RONA Organic Growth 2.5% in 3Q

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

RONA, Boucherville, Quebec, reported sales in the third quarter 2007 were $1.35 billion, up 6.7% over the third quarter 2006. Profit was up 5.9% to $59.4 million.

Excluding contributions from major acquisitions, including Noble Trade, Curtis Lumber, and Mountain Building Centres, consolidated sales increased 2.5%. Excluding the 0.7% decline due to the drop in forest product prices, same-store sales increased by 0.1% in the quarter.

The distributor and retailer of hardware, home renovation and gardening products also recently announced its agreement to acquire Dick’s Lumber in British Columbia.

RONA has 673 stores and eight distribution centers.

Since the beginning of the third quarter, RONA has opened six new stores, three proximity stores …

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Barnes Distribution Organic Sales Fall 1% in 3Q

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

Barnes Group Inc., Bristol, CT, aerospace and industrial components manufacturer and distributor, reported third quarter 2007 sales of $360.4 million, an increase of 11.9%.
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The sales increase reflected $25.4 million of organic sales growth primarily at Barnes Aerospace. Acquisition-related growth contributed $6.8 million due to the KENT acquisition within Barnes Distribution. Foreign currency translation favorably impacted sales by approximately $6.2 million in 2007.
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Profit was $27.7 million, up 46.7% from the prior-year period.
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Barnes Aerospace
Barnes Aerospace generated sales of $103.2 million in the third quarter 2007, an increase of 33.6%. The third quarter 2007 sales increase reflects growth of 36.3% in aftermarket sales. …

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HD Supply Taps New White Cap Chief

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

HD Supply, Atlanta, GA, diversified wholesale distributor of construction and maintenance products, has tapped Tom Lazzaro, president of HD Supply’s Interiors business (CTI), as president of the Construction Supply business (HD Supply White Cap) while continuing to serve in his current role.&nbsp ;
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Brian Etter, president of HD Supply White Cap, is leaving the company to become the CEO of an international motor sports company.
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Lazzaro joined HD Supply in August 2006.
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HD Supply is a wholesale distribution company focused on serving professional customers in the infrastructure, construction, maintenance, repair and remodel markets. HD Supply has nearly 1,000 …

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Hagemeyer Expands in Latvia

Companies, Free, News, Subscriber Only /

Hagemeyer NV has acquired SIA Kolorits, an electrical distributor based in Riga, Latvia. The acquisition was made through its Finnish subsidiary Elektroskandia Oy, and doubles the company’s revenues in the country.
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Kolorits has annual revenues of more than & euro; 10 million and is active in the Construction and Installation market. The company has over 80 employees and a branch network covering the major Latvian cities. …

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RBC Bearings 2Q Sales Up 6.8%

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

RBC Bearings Inc., Oxford, CT, manufacturer of highly-engineered precision plain, roller and ball bearings for the industrial, defense and aerospace industries, reported sales for its second quarter 2008 were $78.2 million, an increase of 6.8% from the same period a year ago.

Profit was $8.7 million up from $7.4 million in the same period a year ago.

Sales for the six-month period ended Sept. 29, 2007, were $158.1 million, an increase of 6.4% from the six-month period in 2006.

Profit for the six-month period was $18.6 million compared with $12.4 million for the same period last year.

Over the next 30 months, the Company plans to invest up to $30 million in equipment to expand its operations to produce large diameter anti-friction bearings for the oil, …

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Katy Industries to Sell Electrical Products Group

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

Katy Industries, Inc., Arlington, VA, has agreed to sell its Electrical Products Group, comprised of Woods Industries Inc. and Woods Industries (Canada) Inc., to Coleman Cable Inc. for $45 million.
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The Group designs and distributes consumer electrical corded products and electrical accessories that are sold to national home improvement and mass merchant retailers. The operations are in Indianapolis, IN, and Toronto, Ontario.
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This transaction will move Katy to a single-business model which will allow the organization to further focus its resources on our core business, Continental Commercial Products, which services the janitorial/sanitary and food service markets,” said Anthony T. Castor III, president and CEO of Katy Industries.
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After the sale …

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Canadian Wholesale Revenues Fall 2% in August

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

Source: Statistics Canada
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Weaker sales of automotive products and machinery and electronic equipment pushed wholesale sales substantially lower in August, bringing to an end a string of three straight monthly increases.

Wholesale sales fell&nbsp ; 2.0% to an estimated&nbsp ; $43.2&nbsp ; billion in August. The decline completely offset the gains of&nbsp ; 1.8% in July and&nbsp ; 0.3% in June.

Around half of the decline in August was due to weaker sales of automotive products (-5.3%), more than offsetting last month’s gain (+3.5%). The machinery and electronic equipment sector also had a slow month as sales fell&nbsp ; 4.2%, but this followed three months of strong gains. The other notable decline came in the building materials sector (-2.2%), …

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Wood Flooring Distributor Hoboken Closes Doors

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

The largest wood flooring distributor in the U.S., Hoboken Wood Flooring LLC, Wayne, NJ, has shut its doors, according to news reports.

According to a report this week from local paper The Record, sales had fallen about 25% each month for the past year -the distributor’s commercial business development manager attributed the losses to the housing downturn, competition from manufacturers going direct, the company’s push to expand nationally and potentially even go public.

The next step for Hoboken is to file for bankruptcy, though no officials from Hoboken have said whether they would do so. The distributor is already facing a lawsuit from two wood flooring manufacturers, Columbia Flooring Inc., and Millwood Specialty Flooring Inc., filed in New Jersey …

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Moro Corp. Acquires J& J Sheet Metal Works

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

Moro Corp., Wayne, PA, has acquired J & J Sheet Metal Works, Vestal, NY.
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J & J fabricates and installs commercial grade sheet metal products used in the heating, ventilating and air conditioning (HVAC) industry.
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The company’s customers are primarily mechanical contractors doing HVAC work for schools, hospitals, and industrial, commercial and governmental buildings. The company’s customers are primarily in the Southern Tier Region of New York State.
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Moro is a construction products and services company engaged in the fabrication of concrete reinforcing steel (rebar), sheet metal (duct work), structural steel and process piping, the distribution of construction steel, miscellaneous steel and construction accessories, and …

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