2007 - Page 15 of 47 - Modern Distribution Management

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2007

Acme United Expands Knife, Cutting Business

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

Acme United Corporation, Fairfield, CT, has acquired the knife and cutting business of Tiger Sharp Technologies, Inc. The purchase price was $350,000. Revenues were approximately $400,000 in 2006.
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Tiger Sharp manufacture extremely sharp replaceable blade pocket knives, and distributes them to independent knife dealers, industrial wholesalers, and companies such as John Deere and Browning.
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The recent acquisition of Camillus Cutlery provides Tiger Sharp with a well known brand of knives to incorporate its technology. It acquired Camillus for $200,000 earlier this month; the assets were acquired after Camillus filed for bankruptcy. Revenues were $18 million in its final year.
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Acme United is a supplier of cutting devices, measuring instruments, …

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U.S. Residential Market Slows Wolseley Annual Sales

Building Materials/Construction, Companies, Free, HVACR, News, Plumbing Products & PVF Distribution, Subscriber Only, Top Distributor Sectors /

Global HVAC, plumbing and building materials distributor Wolseley plc reports there are no signs yet of any upturn in the U.S. housing market; it is also seeing the repairs, maintenance and improvement market starting to soften. A weaker dollar and price deflation in lumber and panels has also hurt its North American building materials business.
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In its preliminary results report for the year ended July 31, 2007, Wolseley had sales of 16.2 billion pounds (US$32.7 billion), up 14.6% from the previous year. Operating profit fell slightly.
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North American revenues declined slightly overall, reflecting slow sales by Stock Building Supply hit by the weak U.S. residential market. Ferguson, the plumbing/HVAC business, had 5.5% organic growth. Operating profit in …

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DXP and Precision Merger Complete

Finance, Mergers & Acquisitions, Subscriber Only /

Power transmission and bearing distributor DXP Enterprises, Inc., Houston, TX, has finished its acquisition of Precision Industries for $106 million. The acquisition is DXP’s largest and nearly doubles the distributor’s size. Precision has a run rate of $250 million in sales in 2007. In the Aug. 25, 2007, issue of MDM, we presented Precision’s reason for selling the company. Recently, DXP held a conference call on the purchase and shared its reasons for making the acquisition. The following is an excerpt from comments made by DXP CEO David Little during that call:
Precision Industries fits within our primary acquisition criteria of acquiring companies that allow us to gain access to new geography, strengthen our product and service offering and have established and accomplished …

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Strategic Sales Management

Management, Sales & Marketing, Strategy, Subscriber Only /

It’s no longer enough to leave relationships solely in the hands of individual sales reps, no matter how capable they are. Becoming a strategic partner in the supply chain means evolving to a new model of sales management, according to this excerpt of a new book from the NAW Institute for Distribution Excellence.
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The 1990s saw the emergence of a new concept. Instead of just being a middleman between manufacturers and customers, wholesaler-distributors started to become marketing channels.

On the upstream side, sophisticated manufacturers began to look at distributors as partners in the ultimate job of reaching and satisfying end consumers.

Instead of just talking about what the distributors’bought, they started discussing what the distributors …

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Survey: Premiums Up 6.1% in 2007

Free, Subscriber Only /

Annual premiums for family coverage now average $12,106, according to one annual survey, with workers paying $3,281.

Health insurance premium growth was the slowest since 1999 when premiums rose 5.3 percent.

Premiums saw a 6.1 percent increase in 2007, according to the 2007 Employer Health Benefits Survey released by the Kaiser Family Foundation and Health Research and Educational Trust.

The average health benefit cost per employee is expected to rise 6.7 percent in 2008, the Mercer Health Benefits survey of employers found. In 2006, employers saw a 6.1 percent increase in costs. The percentage of the workforce (60 percent) obtaining coverage from employer-sponsored plans remained unchanged since 2006. (See graphic on page 7.)
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Commentary: Engage Entire Company in Customer, Vendor Accounts

Management, Perspective, Sales & Marketing, Strategy, Subscriber Only /

As our lead article outlines, many distributors are trying to evolve a traditional sales model -where the outside salesperson owns the customer relationship -into a more flexible one. It’s a tough transition that engages the entire company, not just the sales rep.

The payoff goes far beyond particular customers. It really shifts the way in which distributors position themselves with customers and suppliers.

Not only do these customer relationships become much more productive and cost-efficient, it is much easier for distributors to tailor services to specific customer needs across the organization. That in turn defines for the customer the real difference in the value your company offers versus alternatives.

Distribution management gains much better …

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Act Protects Returning Veterans’ Rights

Legal Issues in Wholesale Distribution, Operations, Subscriber Only /

USERRA, a federal law that protects the jobs of members of the uniformed services, has long been considered a dangerous trap for the unwary employer.
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A jury recently awarded nearly $1 million in damages to an Oregon National Guardsman discharged after seeking outside assistance to get his job back, based largely upon the timing of the employer’s discharge decision.
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USERRA Protection
The action was brought under the Uniformed Services Employment and Reemployment Rights Act of 1994 (USERRA), which was enacted to protect the jobs of reservists, National Guard members and other members of the uniformed services.

The law codifies a series of statutes dating back to WWII, all of which were underpinned by the notion that our returning …

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Canadian Market Analysis: MRO Products

Market Analysis, Research & Analytics, Subscriber Only /

The industrial product group listed here – MRO Products – represented a market in 2006 of $34.8 billion, according to estimates by Industrial Market Information, Minneapolis.

These charts show the top ten industries, by SIC code, consuming these products; and the 2006 end-user consumption of these groups sorted by the 12 Canadian government market regions. …

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News Digest 3718

Free, Subscriber Only /

Wolseley plc, a global distributor of plumbing and heating products as well as building materials, announced five bolt-on acquisitions this month, including two by Ferguson and two in Europe. These acquisitions are expected to add 110 million pounds to total revenue.

Wolseley subsidiary Stock Building Supply has acquired ProSource Building Supply Ltd, Houston, TX, a construction services business supplying commercial doors, trim, hardwood, related specialty products and installation services. In the year ended Dec. 31, 2006, ProSource had revenue of $17.2 million. The acquisition is in line with Stock’s goal of expanding in the commercial and industrial markets. More&nbsp ;

Another Wolseley …

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MDM September 25, 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 [email protected] to …

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MDM Inflation Index: August 2007

Economic Trends, Research & Analytics, Subscriber Only /

Modern Distribution Management’s August Inflation Index, which measures a cross-section of industrial supplies, was up 0.35% from the previous month, and up 3.04% from August 2006.

Summary of&nbsp ; MDM Inflation Index for the past 12 months:

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
September 2006 Index 265.6
August 2006 Index 265.2

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

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U.S., Canadian PT/MC Sales Drop in July

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

Power Transmission Distributors Association today released July 2007 month-end trend data for distributors and manufacturers of power transmission/motion control (PT/MC) products.
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U.S. distributors’sales of PT/MC products dropped 7.0 percent from June to July after a rise in sales for the past two months.&nbsp ; Year-to-year comparisons remain positive for the first half of this year with sales in July 2007 coming in 11.0 percent higher than in July 2006.&nbsp ; Accounts receivable collection days rose 2.7 percent over June 2007.&nbsp ; The July 2007confidence index for U.S. distributors remained unchanged for the fifth month in a row at 6.6 (on a 10-point scale).
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Canadian distributors’sales in PT/MC products continue to fall, dropping 9.0 percent from …

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Wholesale Prices Fall in August

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

The Producer Price Index for Finished Goods fell 1.4 percent in August, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported.&nbsp ; &nbsp ; This decrease followed a 0.6-percent increase in July and a 0.2-percent decline in June. &nbsp ; At the earlier stages of processing, prices received by manufacturers of intermediate goods moved down 1.2 percent in August compared with a 0.6-percent advance in July, and the crude goods index dropped 3.0 percent after climbing 1.2 percent in the prior month.

Accounting for most of the downturn in finished goods prices, the index for energy goods fell 6.6 percent in August following a 2.5-percent rise in the prior month. &nbsp ; Prices for consumer foods declined 0.2 percent after inching down 0.1 …

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Praxair China to Build Gases Facility in Nanjing

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

Praxair China has announced plans to build a specialty gases facility in the Nanjing Science Park, in Nanjing, China.
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This facility will allow Praxair to dramatically increase its presence in the rapidly growing Chinese specialty gas markets,” said David Chow, president of Praxair China. “With the addition of high-purity gases, calibration gases and ultra-high-purity gases for the electronics segment, this facility will also be capable of producing complex mixtures for research laboratories and emission testing centers being developed throughout China.”
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The facility is scheduled to start up in August 2008. Markets served will include the petrochemical, automobile, lighting, and pollution control industries as well as laboratories and research centers. In a …

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Timken to Acquire The Purdy Corp.

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

The Timken Company, Canton, OH, has agreed to acquire The Purdy Corp., Manchester, CT, a precision manufacturer and systems integrator for military and commercial aviation customers, for $200 million.
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The acquisition will further expand the growing range of power-transmission products and capabilities Timken provides to the aerospace market.
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The Purdy Corp.’s expertise includes design, manufacturing, testing, overhaul and repair of transmissions, gears, rotor-head systems and other high-complexity components for helicopter and fixed-wing aircraft platforms. Purdy employs more than 200 people and had 2006 sales of $87 million.
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Timken offers a comprehensive line of aerospace quality bearings, along with a select range of turbine engine …

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Industrial Production Rises 0.2% in August

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

Industrial production rose 0.2 percent in August after an increase of 0.5 percent in July. At 114.4 percent of its 2002 average, total industrial production in August was 1.7 percent above its year-earlier level.
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Manufacturing output fell 0.3 percent in August after five consecutive months of increases, mining output dropped 0.6 percent, but unusually hot weather contributed to an increase of 5.3 percent in the output of utilities.
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Capacity utilization for total industry was unchanged, at 82.2 percent, a rate 0.2 percentage point below its level in August 2006 but 1.2 percentage points above its 1972-2006 average.
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Market Groups
The production of consumer goods edged up 0.1 percent in August.
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The production of …

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Klein Tools Affiliate Acquires Heritage Cutlery

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

Klein Cutlery Inc., an affiliate of hand tool manufacturer Klein Tools, Lincolnshire, IL, has acquired Heritage Cutlery, Bolivar, NY, from Rogers, Lunt and Bowlen Company.
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The acquisition includes the brand names Heritage and C-Mon.
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Heritage Cutlery is a manufacturer of hot-forged scissors and shears for a wide variety of markets including electrical and industrial. The company employs about 55 people at its 18,000-square-foot facility. Heritage has about 900 distributors in the U.S., Canada, Australia and Europe.
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The new company will operate under the name Klein Cutlery LLC. No changes in management are …

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Flowserve Sells Distribution Assets in Sweden

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

Flowserve Corp., Dallas, TX, a global supplier of fluid motion and control products and services, has agreed to sell certain product distribution assets of its non-core instrumentation and positioner facility in Karlstad, Sweden, to Indutrade.
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The Karlstad facility provides instrumentation products and systems including gas analyzers, I/O devices, recorders, radiation density meters and other non-core products used for measurement and control of flow processes in industries such as power, paper and machinery.
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Under the terms of the agreement, Indutrade will continue to sell Flowserve’s products and services, which should provide Flowserve wider access to sales channels in the region.
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This agreement enables Flowserve to strengthen its focus …

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Actuant Acquires Templeton, Kenly & Co. for $48M

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

Actuant Corp., Milwaukee, WI, has acquired Templeton, Kenly & Co, Inc., Broadview, IL, for $48 million in cash.
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TK produces hydraulic pumps and tools, mechanical jacks, wrenches, and actuators. Its products are sold under brand names including Simplex, Uni-Lift, and Pow’r-Riser. TK generated $33 million in sales in the last year, and has 120 employees.
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TK will operate within Actuant’s Industrial Segment, which includes Enerpac.
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&nbsp ; TK’s leading positions in the mechanical jack product line and the railroad end market represent attractive market extensions for Actuant, and we are excited about the prospects for utilizing our global distribution network to accelerate the sales of these products. In addition, TK’s hydraulic pumps and tools …

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Brady Organic Growth Up 4% to $1.36B in 2007

Free, News, Safety Products, Subscriber Only, Top Distributor Sectors /

Brady Corp., Milwaukee, WI, reported sales rose 34% in fiscal 2007 to $1.36 billion. Organic growth was 4%. Acquisitions contributed 26% to sales.
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Profit for fiscal 2007 rose 5% to $109.4 million.
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In the fourth quarter, Brady sales rose 26% to $362.8 million. Organic growth was 5% from the prior-year quarter, with acquisitions adding 17% to total sales growth.
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Regionally, sales were up 25% in the Americas, 28% in Europe, and 25% in Asia/Pacific.

Profit was up 17% to $26.2 million in the fourth quarter.

Fiscal 2007 was a very busy year for Brady, and included 7 acquisitions, 16 SAP implementations, and further expansions in Mexico, Thailand, Malaysia, India, China and the Philippines among other geographic areas,” said …

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