December 2007 - Page 4 of 5 - Modern Distribution Management

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December 2007

Private Equity Firm Buys Horsburgh & Scott

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

Bolder Capital, LLC, a Chicago-based private equity firm, purchased The Horsburgh & Scott Company, Cleveland, OH, for $43.5 million.
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Horsburgh & Scott is a manufacturer of custom industrial gears and mechanical gear drives.
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H & S offers a wide array of large gear types and engineering services for new or replacement installations in steel, mining, sugar, aluminum and power generation applications. H & S also provides custom industrial gears, repair services, spare parts, heat treatment and other technical …

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MDM December 10, 2007

Subscriber Only /

This is the pdf of this issue of Modern Distribution Management. Apply the full $24.95 pay-per-view cost toward an annual subscription (within 30 days of purchase), which includes two issues a month plus access to more than six years of online archives and market data. Call 1-888-742-5060 or email info@mdm.com to …

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Wholesale Distribution Economic Outlook: Adam Fein’s First Look at 2008

Economic Trends, Research & Analytics, Subscriber Only /

Adam J. Fein, well-known wholesale distribution industry expert, presents an exclusive first look at how U.S. economic trends are shaping up&nbsp ; for wholesaler-distributors in the year ahead. Use this CD of this Dec. 6 program to benchmark your 2008 sales and marketing plan with the latest segment-specific economic data and analysis for wholesale distribution channels.
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Tap into Fein’s insightful analytic commentary on the latest government business data, emerging macroeconomic trends and his forecast for 2008 conditions. This 90-minute Webcast includes detailed data on 19 wholesale distribution sub-sectors and Fein’s seasoned analysis of the 2008 economic landscape.
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Based on the latest quarterly data, you’ll learn:

Wholesale Distribution Economic Outlook: Adam Fein’s First Look at 2008 Read More »

U.S. MARKET ANALYSIS: Safety Products

Market Analysis, Research & Analytics, Safety Products, Subscriber Only, Top Distributor Sectors /

The industrial product group listed here – Safety Products – represented a market in 2007 of $6.5 billion, according to estimates by Industrial Market Information, Minneapolis.&nbsp ;

These charts show the top ten industries, by SIC code, consuming these products; and the 2007 end-user consumption of these groups sorted by the nine government market …

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MDM Inflation Index: October 2007

Economic Trends, Research & Analytics, Subscriber Only /

Modern Distribution Management’s October Inflation Index, which measures a cross-section of industrial supplies, was up 0.03% from the previous month, and up 2.88% from October 2006.
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Summary of&nbsp ; MDM Inflation Index for the past 12 months:

October 2007 Index 273.6
September 2007 Index 273.5
August 2007 Index 273.3
July 2007 Index 272.4
June 2007 Index 271.7
May 2007 Index 271.2
April 2007 Index 270.8
March 2007 Index 269.6
February 2007 Index 269.4
January 2007 Index 268.7
December 2006 Index&nbsp ; 267.1
November 2006 Index 266.5
October 2006 Index 265.9

Please click below to view a print-ready pdf of the&nbsp ; MDM Inflation Index for October 2007, listing the ten individual …

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News Digest 3723

Free, Subscriber Only /

UK-based Wolseley plc will be laying off 1,300 more workers in the U.S. in its second quarter; the global building materials and plumbing distributor reduced headcount by 1,700 in the three months ended Oct. 31, 2007. In total to date, layoffs represent a third of Stock Building Supply workforce and 10 percent of the Ferguson work force. More

Noland Company, Newport News, VA, has cut 45 jobs across the company over the past month due to the national housing downturn, according to the local paper, the Daily Press. Noland, bought by WinWholesale, Dayton, OH, in 2005, sells plumbing and HVAC supplies to construction end-markets. More

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Graybar Sales Up 4.3% in 3Q

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

Graybar, St. Louis, MO, distributor of electrical and communications products, reported profit of $66.2 million during the first three quarters of 2007, an increase of 41.7% over the same period in 2006.
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During the first three quarters of 2007, sales increased to $3.92 billion, a 4.3% increase over the same period in 2006. The sales increase resulted from organic growth and reflected expansion in the electrical and communications/data markets. In comparison to the first three quarters of 2006, income from operations grew 29.8% during the first nine months of 2007.
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Our net income through the third quarter this year is greater by almost $9 million than our annual net income in 2006,” said Robert A. Reynolds Jr., president and CEO of Graybar. …

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Ingersoll-Rand Sells Bobcat Unit for $4.9B

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

Ingersoll-Rand Company Ltd. has sold its Bobcat, Utility Equipment and Attachments business units to Doosan Infracore for $4.9 billion.

The combined businesses manufacture and sell compact equipment, including skid-steer loaders, compact track loaders, mini-excavators and telescopic tool handlers; portable air compressors, generators, and light towers; general-purpose light construction equipment; and attachments. For full-year 2006 these businesses generated $2.6 billion in revenues.

Ingersoll Rand is a global diversified industrial firm providing products, services and solutions to transport and protect food and perishables, secure homes and commercial properties, and enhance industrial productivity and …

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Illinois Tool Works Sales Up 15.6% in Latest Quarter

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

Illinois Tool Works Inc., Glenview, IL, reported revenue growth of 15.6% for the quarter ended Oct. 31, 2007. Base revenues were up 2.2%, due to strength in international markets. North American organic growth was flat in the quarter.
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With acquisitions, sales changes were:
Engineered Products/North American +1.7%
Engineered Products/International +24.9%
Specialty Systems/North America +8.3%
Specialty Systems/International +19.5%
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ITW is a $14.1 billion diversified manufacturer of highly engineered components and industrial systems and …

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Illinois Tool Works Sales Up 15.6% in Latest Quarter Read More »

SKF, GE Aviation Enter Joint Venture

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SKF and GE Aviation have agreed to establish a new company that will manufacture and repair bearings for GE’s engines for large aircrafts. The new company, with SKF holding 51% and GE Aviation 49%, will be consolidated into the SKF Group and represents an investment of $28 million.
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The bearings will be manufactured for GE Aviation and its affiliate. The new company will be based in Charleston, SC. It will start deliveries during 2008 and will have about 100 employees when in full production.
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Sweden-based SKF is a producer of bearings for the aero engine market and GE Aviation produces large aero engines. …

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Myers Industries Sales Up 15% in 3Q

Free, News, Subscriber Only, Top Distributor Sectors /

Myers Industries, Inc., Akron, OH, reported sales from continuing operations for the third quarter ended Sept. 30, 2007, were up 15% to $213.9 million.
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The sales increase includes $29.5 million from the acquisition of ITML Horticultural Products and sales of $8 million from the purchase of material handling lines from Schoeller Arca Systems Inc. North America. Organic growth was down by $9.4 million in the third quarter.
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Income from continuing operations was $1.5 million, as compared to $4.2 million in the third quarter of 2006.
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Sales from continuing operations for the nine months ended September 30, 2007 increased 17% to $686 million, as compared to sales of $585.7 million reported for the nine months ended September 30, 2006.
&nbsp ; …

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Myers Industries Sales Up 15% in 3Q Read More »

Graybar Anticipates $100M in ’08 Sales from New Account

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

Graybar, St. Louis, MO, distributor of communications and electrical products, has been awarded a new, three-year U.S. Communities Program contract effective Jan. 1, 2008. DeSousa said the company forecasts sales of more than $100 million through the program in 2008.
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Graybar will be the exclusive distributor of electrical products in the program, which provides cooperative purchasing agreements for U.S. Communities-registered agencies nationally. The program provides competitively solicited pricing and streamlines purchasing by eliminating the traditional three-bid buying process.&nbsp ;
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State, county and local governments, dependent and independent special districts, public and private K-12 schools and universities, and non-profit institutions are eligible …

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Software Provider TECSYS Pushes Into Industrial Distribution

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

TECSYS Inc., Montreal, (TSX: TCS), supply chain management software company, has acquired Streamline Information Systems Limited, a Brantford, Ontario-based software supplier in the industrial distribution sector, for CDN$1.4 million.
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Streamline is a provider of enterprise software applications for the SMB industrial distribution sector. The company has clients in Canada and the U.S. The Company’s product line, Visual Streamline, is a full suite of software such as Sales Order Management, Inventory Management and Financial applications. Its customers are primarily wholesalers spanning multiple industry segments in Canada and the U.S. For fiscal year ended Aug. 31, 2007, Streamline’s revenue was CDN$ 2.9 million.
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We made the decision over a year ago to become …

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NetSuite Takes Steps Toward IPO

Free, News, Subscriber Only, Technology /

NetSuite Inc., San Mateo, CA, an on-demand business-management software provider focused on small- and medium-sized companies, is moving closer to its initial public offering.
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According to various news reports, the company expects the IPO to total 6.2 million shares of common stock priced between $13 and $16 each. Based on this, NetSuite’s market capitalization would be between $773.6 million and $952.2 million, according to the AP. The company expects to raise net proceeds of nearly $90 million from the IPO.
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The proceeds will be used to pay a balance on the company’s secured line of credit, but also may be used to make acquisitions.
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NetSuite’s controlling shareholder is Take Ventures LLC, …

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New Employment Projections Tell Just Part of the Story

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

The Bureau of Labor Statistics released its employment projections through 2016 this week, and it doesn’t look great for manufacturing.
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Within the goods-producing sector, construction is the only sector projected to grow.&nbsp ; Employment in manufacturing is forecast by BLS to decline by 1.5 million jobs. This decline is half of the 3 million manufacturing jobs lost in the previous decade (1996-2006). Employment in goods-producing industries is expected to decrease from 14.9% to 13.1% of total employment.
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Four of the 10 detailed industries with the largest projected wage and salary employment declines are in the manufacturing sector, including printing and related support activities and motor vehicle parts manufacturing.
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That said, we at MDM …

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Survey: CEOs Have Slightly Improved Outlook for Next Six Months

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

Despite a relatively uncertain economic cycle, the leaders of America’s top companies showed a slight uptick in their expectations for the economy over the next six months, according to Business Roundtable’s fourth quarter 2007 CEO Economic Outlook Survey.
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The CEO Economic Outlook Index, which indicates how CEOs believe the economy will perform in the six months ahead, improved moderately, rising more than two points from last quarter’s 77.4 to 79.5.
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This quarter’s survey suggests that CEOs, as a whole, still see the economy as steady and that the vast majority expect their sales, capital spending and employment levels to either increase or remain steady in the first half of 2008,” said Harold McGraw III, chairman of Business Roundtable and president and CEO …

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Survey: CFOs Pessimistic Over U.S. Economy

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

In stark contrast to recent findings in a survey of CEOs by the Business Roundtable, optimism among chief financial officers about the U.S. economy plunged to a record low this quarter, driven by growing concern about weak consumer demand, high fuel costs, rising labor costs and credit markets. This pessimism will slow growth in earnings, capital spending, and hiring.
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These are some of the conclusions of the year-end 2007 Duke University/CFO Magazine Global Business Outlook survey, which asked CFOs from a broad range of global public and private companies about their expectations for the economy.
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Summary of Findings:

Survey: CFOs Pessimistic Over U.S. Economy Read More »

Cutting Jobs – A Painful Exercise, So Do It Right

Economic Trends, Free, Human Resources in Wholesale Distribution, Management, Operations, Research & Analytics, Strategy, Subscriber Only /

Layoffs and other cost-cutting measures in building materials have begun in earnest, with several distributors and retailers announcing workforce reductions” in the past week.
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The Home Depot, Atlanta, GA, will cut upwards of 950 jobs, many from its three call-center operations that work with customers to install doors and other products. An HD spokesman told Reuters that the closings were not solely due to a down housing market. The retailer wants to give customers a local contact for installation help rather than send them to a call center. Still, HD is hurting, posting a 27% drop in profit in the past quarter.
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UK-based Wolseley said it would cut its workforce in North America by at least 1,300 more this year, mostly in its Stock Building Supply subsidiary. …

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Legrand Buys Chinese Manufacturer

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

Electrical manufacturer Legrand, based in France, is buying TCL Wuxi, a Chinese manufacturer specialized in modular and high-current circuit-breakers.
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The move reinforces Legrand’s presence in China. Legrand is already active in the energy-distribution segment in China.
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TCL Wuxi, which reports sales of close to & euro; 20 million (US$29.3 million at current rates of exchange) has a sales force of 200. &nbsp ;
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TCL Wuxi is Legrand’s fifth acquisition since January 2007, following HPM, number two for wiring devices in Australia; UStec, a US company specializing in residential structured cabling; Kontaktor, number one for high-current circuit-breakers in Russia; and, most recently, Macse, Mexico’s number one producer of metal cable management …

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WESCO Acquires Monti Electric Supply

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

WESCO International, Inc., Pittsburgh, PA, provider of electrical MRO products and construction materials, has acquired Monti Electric Supply Inc., Waveland, MS. Monti Electric has three branch locations and annual sales of $20 million.

The addition of Monti Electric will provide WESCO with a broader market position to benefit from the long-term hurricane-related reconstruction of the Gulf Coast region,” Stephen A. Van Oss, WESCO’s Senior Vice President and Chief Financial and Administrative Officer said.

WESCO’s primary operating entity is WESCO Distribution Inc. WESCO Distribution is a distributor of electrical construction products and electrical and industrial maintenance, repair and operating (MRO) supplies, and is a provider of integrated supply …

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