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2007

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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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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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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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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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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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

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

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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Ryerson Sales Up 7.2% in 2Q

Free, Metals Service Centers, News, Subscriber Only, Top Distributor Sectors /

Ryerson Inc., Chicago, IL, which recently announced it has agreed to be acquired by Platinum Equity, reported second quarter sales of $1.6 billion, a 7.2% increase from the year-ago period.
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A 17.5% rise in the average selling price per ton offset an 8.8% decline in tons shipped. From the first quarter, sales declined 2.7% on a 1.1% increase in the average selling price per ton and a 3.7% decline in tons shipped.
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Profit was up 72% year-over-year, and up 51% excluding a favorable income tax settlement.
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Ryerson reported that softer industry volume was offset by higher metals pricing, efforts to control costs, continued inventory reductions, and progress on short-term initiatives of addressing underperforming service centers, improving inventory …

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Honeywell Buys Enraf Holding for $260M

Free, News, Subscriber Only, Top Distributor Sectors /

Honeywell, Morris Township, NJ, has acquired Enraf Holding B.V., a division of privately held Delft Instruments, based in Delft, Netherlands, in a deal valued at $260 million.
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This acquisition brings tremendous upside to both Enraf and Honeywell Process customers in the energy production supply chain,” said Jack Bolick, president of Honeywell Process Solutions. “& hellip; In addition, the acquisition brings an opportunity to grow within our existing customer base and in new sectors such as bio-fuels, LNG terminals and petrochemicals.
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Enraf is a provider of mission-critical measurement and controls solutions for the exploration, production and transportation of energy products for land and marine applications. The Enraf line of products for measurement, …

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Builders FirstSource Buys Bama Truss & Components

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

Builders FirstSource, Inc., Dallas, TX, a supplier and manufacturer of structural and related building products for residential new construction in the U.S., has acquired Bama Truss and Components, Inc.
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Based in Shelby, AL, Bama is a supplier of multifamily and light commercial manufactured structural components with annual sales of $25 million. Its product offerings include: wood roof and floor trusses, wood panels, steel roof trusses and various related building materials and services.
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Builders FirstSource operates in 13 states, principally in the southern and eastern U.S., and has 68 distribution centers and 61 manufacturing facilities, many of which are located on the same premises as its distribution …

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Manufacturing Expands in July

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

Economic activity in the manufacturing sector expanded in July for the sixth consecutive month, while the overall economy grew for the 69th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.
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Following a strong second quarter, the manufacturing sector moderated somewhat in the past month. In July, manufacturing expanded at its slowest pace in the last four months, but continuing strength in New Orders and Production indicate that third quarter performance should still be quite good, ISM reported. Upward pricing pressures now in their seventh month continue to be a major concern for supply managers.
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The 10 industries reporting growth in July & mdash; listed in order & mdash; are: Wood Products; Furniture …

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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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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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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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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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Lawson Products Sales Flat in 2Q

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

Lawson Products, Inc., Des Plaines, IL, a distributor of services, systems and products to the MRO and OEM marketplaces, reported second-quarter sales from continuing operations were $129.2 million, comparable to the prior-year quarter.
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The company reported a net loss of $0.3 million, compared to profit of $3.2 million in the second quarter 2006.
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Second quarter 2007 results include severance costs of $5.5 million related to several executive departures.

Some Lawson sales agents were recently indicted on …

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Construction Spending Down Slightly in June

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

Construction spending in June 2007 was estimated at a seasonally adjusted annual rate of $1,175.4 billion, 0.3% below the revised May estimate of $1,178.4 billion. The June figure is 2.4% below the June 2006 estimate of $1,204.0 billion.
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During the first six months of the year, construction spending amounted to $550 billion, 3.5% below the $570.1 billion for the same period in 2006.
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Spending on private construction was at a seasonally adjusted annual rate of $890.9 billion, 0.3% below the revised May estimate. Residential construction was at a seasonally adjusted annual rate of $544.4 billion in June, 0.7% below the revised May estimate of $548.3 billion. Nonresidential construction was at a rate of $346.6 billion in June, 0.3% above the revised May …

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