2007 - Page 12 of 47 - Modern Distribution Management

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2007

3M Sales Up 5.5% in 3Q

Companies, Free, News, Subscriber Only /

3M, St. Paul, MN, reported third-quarter sales of $6.2 billion, an increase of 5.5%. Sales rose 9.4% adjusted for recently divested businesses, primarily the company’s branded pharmaceuticals business.
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Third-quarter profit was $960 million, versus $894 million, in the third quarter of 2006, up 7.4%.
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Local-currency sales including acquisitions increased 16.6% in Health Care ($961M in sales), 6.7% in Safety, Security and Protection Services, 5.4% in Industrial and Transportation ($1.8B), 4.3% in Electro and Communications ($714M), 3.5% in Consumer and Office ($898M), and 1% in Display and …

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Private Equity Firm to Buy HVAC Supplier Goodman for $2.6B

Finance, Free, HVACR, Mergers & Acquisitions, News, Plumbing Products & PVF Distribution, Subscriber Only, Top Distributor Sectors /

Goodman Global, Inc., Houston, TX, manufacturer of residential and light commercial heating, ventilation and air-conditioning equipment, has agreed to be acquired private equity firm Hellman & Friedman LLC for $2.65 billion in cash.

The transaction will be financed by Barclays Capital, Calyon New York Branch, GE Commercial Finance and vehicles managed by GSO Capital Partners LP and Farallon Capital Management, LLC.

Stockholders holding a majority of Goodman’s outstanding shares have agreed to vote in favor of the transaction.

Goodman Global, Inc. products are predominantly marketed under the Goodman, Amana and Quietflex brand names, and are sold through company-operated and independent distribution networks with more than 800 distribution points …

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Industrial Gases Supplier Rohm & Haas Raises Prices 5-15%

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

On the heels of a price increase announcement by Airgas, Rohm and Haas Company, Philadelphia, PA, said it is also seeking price increases for most of its chemical products, effective Nov. 1, 2007. Increases will range from 5% to 15%.
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The costs of key raw materials -such as propylene, ethylene, methanol, as well as other raw materials like tin -have remained persistently high,” said Pierre Brondeau, executive vice president in charge of Specialty Materials. “Earlier in the year, there were strong indications that raw material prices would peak around mid-year, and then trail off during the second half of 2007. Given these expectations, we did whatever we could to use internal controls to mitigate the impact of the cost increases to Rohm and Haas, and selectively sought …

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3M Acquires Polish Manufacturer

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

3M, St. Paul, MN, has agreed to acquire Unifam Sp. z o.o., a manufacturer of cut-off wheels, depressed center grinding wheels and flap discs based in Poland.

Unifam supplies conventional bonded wheels and flap discs used to cut and grind materials such as metallic sheet, rod, pipe and welds, for markets that include metalworking, shipbuilding, heavy equipment manufacturing and construction. Unifam currently produces products for 3M that feature 3M’s Cubitron Abrasive Grain.

Investing in a local company from the industrial sector expands our product portfolio and will allow us to better support our customers’growth in Europe and beyond,” said Jose Del Solar, managing director, 3M Poland.

Unifam employs approximately 95 people at its facility in …

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WinWholesale Opens Four Locations

Companies, Free, News, Subscriber Only /

WinWholesale Inc., Dayton, OH, has opened four Winnelson locations and will soon open the first store in Washington state. It is now in 44 states.

The new locally-owned and operated Winnelson companies provide plumbing supplies, equipment and accessories to residential and commercial plumbing contractors.

The recently opened companies and locations are:

  • Palmetto Winnelson, Co., Lexington, S.C.
  • San Diego Winnelson Co., San Diego, Calif.
  • Vero Beach Winnelson Co., Vero Beach, Fla.
  • Winston-Salem Winnelson, Co., Winston-Salem, N.C.

An additional company, Puget Sound Winnelson, will open in Bremerton, WA., in the coming …

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Eaton Buys Babco Electric Group

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

Diversified industrial manufacturer Eaton Corporation, Cleveland, OH, has acquired Babco Electric Group, Alberta, Canada.
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Babco Electric Group is a manufacturer of specialty low- and medium-voltage switchgear and electrical housings for use in the Canadian oil and gas industry and other harsh environments. Babco Electric Group had sales of $11 million in the fiscal year ended April 30, 2007.
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The acquisition of Babco provides access to established distribution channels and customers in Canada with a strong focus on the oil sands market, as well as increased engineering and production capabilities,” said Randy W. Carson, Eaton senior vice president and president& ndash; Electrical Group.
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Eaton Corporation is a diversified industrial …

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Making the Case for Industrial Distribution

Free, Human Resources in Wholesale Distribution, Operations, Power Transmission/Motion Control/Fluid Power, Subscriber Only, Top Distributor Sectors /

MDM spent the past couple of days at the annual Power Transmission Distributors Association Industry Summit. The summit drew more than 800 participants.
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A few takeaways on the association level:

The PTDA is a leader in the Industrial Careers Pathway initiative, focused primarily on the recruitment of students into industrial distribution programs (and then into industrial distribution careers). As the initiative’s executive director says: “We’re good at talking to each other about problems in recruiting in our industry, but we’re not so good at making a case for our industry to those not in ‘our world.’” The initiative has dozens of …

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DXP Enterprises Acquires Indian Fire & Safety

Companies, Power Transmission/Motion Control/Fluid Power, Safety Products, Subscriber Only, Top Distributor Sectors /

DXP Enterprises, Inc., Houston, TX, has acquired Indian Fire & Safety, Hobbs, NM, a business that provides safety consulting and training services, as well as sells safety equipment and rents oilfield equipment.
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DXP paid $12 million for the business. The unaudited sales and estimated EBITDA for the acquired business for the 12 months ending Sept. 30, 2007, were $9.2 million and $3 million, respectively.
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The acquisition strengthens DXP in New Mexico and Texas and complements its growing safety business.
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DXP is a distributor of pumps, bearings, power transmission, seals, hose, safety, fluid power, electrical and industrial supplies. It recently purchased Precision Industries, nearly doubling its annual sales to more than $500 …

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Motion Industries Sales Grow 7% in 3Q

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

Genuine Parts Company, Atlanta, GA, reported total sales of $2.8 billion in the third quarter were up 4% from the prior-year period, and net income was up 6%.

For the nine months ended Sept. 30, 2007, sales were $8.22 billion, up 4%, and net income was $380.3 million, up 7%.

Motion Industries generated the strongest revenue increase of the group of companies, with sales up 7% in the quarter. The electrical group, EIS, sales were up 4%, followed by Automotive, up 3%, and Office Products, up …

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GHX Industrial Acquires Two Gulf Coast Distributors

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

GHX Industrial, LLC, a Houston-based fabricator and distributor of industrial fluid transfer and sealing products, has acquired All Hose & Specialty, LLC and Sykes Supply Company for $20 million.
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With the acquisitions, GHX will have annualized revenues of $70 million and increased coverage through the Gulf Coast area.

All Hose is a supplier and assembler of high-pressure, hydraulic and industrial hose products and fittings with facilities in Broussard and Houma, LA, and in Houston, TX. Hose’s customer base is broadly diversified across the oilfield service, industrial equipment and industrial service industries.

SSC is a supplier and provider of industrial hose, gaskets and mechanical seal repair with facilities in Pensacola, FL, and Mobile, AL.

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Ryerson Stockholders Approve Platinum Equity Merger

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

Ryerson Inc., Chicago, IL, stockholders voted to approve the agreement allowing acquisition of Ryerson by Platinum Equity, LLC.
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Upon closing, Ryerson will become a wholly-owned subsidiary of Rhombus Holding Corporation. Rhombus Holding Corporation is owned by a private investment fund or funds affiliated with Platinum Equity, LLC.
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Ryerson Inc. is a distributor and processor of metals in North America, with 2006 revenues of $5.9 billion. The Company services customers through a network of service centers across the U.S. and in Canada, Mexico, India, and …

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Timken Plans to Expand Bearing Services Capacity

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

In response to what it says is strong long-term demand, the Timken Company, Canton, OH, has plans to expand its industrial bearing services capacity.
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The manufacturer will invest nearly $6 million in the project, which includes the opening of a new service center in Union, SC, and the expansion of the company’s existing industrial bearing services facility in South Bend, IN.
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The South Carolina service location, which is housed in a Timken bearing manufacturing plant, will relocate to a facility solely dedicated to providing industrial bearing services.
The new center will open in mid-year 2008. When it is fully operational in early 2009, the new center will have additional capacity to remanufacture bearing types and brands within the 18- to 51-inch size …

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Rexel Expands in Australia

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

Global electrical distributor Rexel, based in France, has acquired EIW Holdings, based in Australia.
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The acquisition is in Western Australia, a fast-growing region fueled by the mining industry and public investments.
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In 2006, Rexel’s revenues in the Asia-Pacific region reached 636 million&nbsp ; euros; at the end of June 2007, the company had 304 branches in the …

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Lincoln Electric Sues Worker for Alleged Non-Compete Violation

Companies, Free, Gases & Welding Equipment, Legal Issues in Wholesale Distribution, News, Operations, Subscriber Only, Top Distributor Sectors /

According to Welding Magazine, Lincoln Electric Holdings Inc. is suing a former employee for allegedly stealing company trade secrets and then using them to help a Chinese competitor enter the market.

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A suit filed in U.S. District Court in Cleveland, OH, says that the former marketing and sales employee attempted to help Ningbo Longxing Group Co. of China enter the welding products market in the, violating a non-compete agreement he had with Lincoln Electric.

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The employee went to work for CDL International Sales Inc., a unit of the Chinese company based in

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SKF Sales Up 12.8% in 3Q

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

SKF reported sales increased 12.8% to SEK14.2 billion (US$2.2 billion) in the third quarter 2007. Sales for the first nine months were up 10.9% to SEK 43.5 billion (US$6.7 billion).
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Profit was SEK 1.1 billion (US$181 million). For the first nine months, profit reached SEK 3.6 billion (US$566 million).
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The sales increase for the quarter (in SEK) was attributed to: volume, 9%; structure 3.7%; price/mix, 2%, and currency effects, -1.9%. For the first nine months, the increase was attributed to volume, 7.9%; structure, 4.1%; price/mix, 2.2%; and currency effects, -3.3%.
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Sales growth was highest in Europe, Asia and Latin America. Sales in North America grew less. The manufacturing level for the quarter remained unchanged but was significantly …

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Regal-Beloit Buys Morrill Motors

Free, News, Subscriber Only, Top Distributor Sectors /

Regal Beloit Corporation, Beloit, WI, has acquired Morrill Motors, a designer and manufacturer of fractional horsepower motors and components for the commercial refrigeration and freezer markets.
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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 $8 million to fourth-quarter sales and add $42 million in sales to 2008.
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Morrill brings to Regal-Beloit a wholly owned subsidiary in Jiaxing, China. The manufacturer says the acquisition further expands its global manufacturing and commercial capabilities.

Regal Beloit Corporation is a manufacturer of branded mechanical and electrical motion control and power generation products serving markets throughout the world. …

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Industrial Production Up 0.1% in September

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

Industrial production increased 0.1&nbsp ; percent in September after having been unchanged in August. Total industrial production in September was 1.9 percent above its year-earlier level.
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For the third quarter as a whole, industrial production rose at an annual rate of 4&nbsp ; percent, a pace that was 1/2&nbsp ; percentage point faster than in the previous quarter.
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Output in the manufacturing sector rose 0.1&nbsp ; percent in September after a decline of 0.4&nbsp ; percent in August. The output of utilities edged down 0.1&nbsp ; percent in September after a surge in August; the output at mines expanded 0.2&nbsp ; percent in September.
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Capacity utilization for total industry was unchanged, at 82.1 percent, a rate just 0.1&nbsp ; …

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Private Equity Firm Invests in Industrial Fluids Supplier Houghton

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

Houghton International Inc, a privately-held provider of industrial fluids and chemical management services, announced on Monday that it agreed to merge with a newly-formed affiliate of private equity investment firm AEA Investors LLC.
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The company will continue to function under the Houghton International name.
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Through the proposed partnership with AEA Investors LLC, we expect to enjoy greater access to capital, which will enable us to provide our customers with customized metalworking fluids and chemical management services,” said William MacDonald Jr., president of Houghton …

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Eaton Sales Up 7% in 3Q

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

Diversified industrial manufacturer Eaton Corporation, Cleveland, OH, reported sales were up 7% in the third quarter 2007, and profit up 6% over the same period a year ago.
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Sales in the quarter were $3.3 billion.
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Sales growth consisted of 1% from organic growth, 3% from acquisitions and 3% from exchange rates.
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Alexander M. Cutler, Eaton CEO, said: We outgrew our end markets by 5% this quarter, which was offset in large part by a 4% reduction in our end markets, resulting in 1% organic growth.”
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“& hellip; Due to the economic uncertainties triggered by the late summer turmoil in global credit markets, we believe that our overall markets in the fourth quarter will not improve as we had earlier anticipated. While the …

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Wholesale Prices Rise 1.1% in September

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

The Producer Price Index for Finished Goods increased 1.1 percent in September, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported.&nbsp ; This advance followed a 1.4-percent decrease in August and a 0.6-percent rise in July.
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The index for finished goods excluding foods and energy moved up 0.1 percent in September after increasing 0.2 percent in August. At the earlier stages of processing, prices received by producers of intermediate goods turned up 0.4 percent after declining 1.2 percent a month earlier, and the crude goods index rose 0.1 percent following a 3.0-percent drop in August.
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