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2007

Air-powered Tool Supplier Reports 6.1% Fall in Sales

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

P & F Industries, air-powered tool and hardware manufacturer, reported sales for the quarter ended Sept. 30, 2007, were $30.3 million, down 6.1% from the same period a year ago. Profits from continuing operations were down to $343,000 from $1.5 million in the prior-year period.

The ongoing decline in new housing starts continues to adversely impact our businesses, particularly in the southern and western regions of the nation,” said President and CEO Richard Horowitz.

“In addition to this sluggish economic sector, our overall third-quarter revenues were negatively affected by competitive pressures and rising raw material prices. We maintain our belief that our hardware business should return to more profitable levels once the housing market recovers.”

P & …

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Concrete Product Supplier Sales Down in 3Q

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

Dayton Superior Corp., Dayton, OH, provider of specialized products for the non-residential concrete construction market, reported sales for the third quarter ended Sept. 28, 2007, were $131 million, down from $132 million in the prior-year period. Profit was $386,000 versus a net loss of $342,000 in the previous year.

Sales of Dayton Superior’s concrete construction-related products increased 4% to $112 million, stemming both from higher selling prices and higher unit volume. Equipment rental revenues decreased 10% to $15 million and revenues from sales of used rental equipment also declined, both reflecting a lower level of non-residential construction activity, particularly in Florida, and in the Baltimore/Washington and Philadelphia metropolitan areas.

For the …

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Textron Completes Purchase of United Industrial Corp.

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

Textron Inc., Providence, RI, has completed its purchase of United Industrial Corp., a supplier to the aerospace and defense systems markets through its subsidiary AAI Corp. The total value of the transaction was $1.1 billion.
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UIC will become a wholly owned subsidiary of Textron.
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Textron Inc. is an $11 billion diversified company operating in 32 …

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Machine Tool Consumption Up 6.7% to September

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

September U.S. manufacturing technology consumption was $438.95 million, according to the Association for Manufacturing Technology and the American Machine Tool Distributors’Association. This total, as reported by companies participating in the USMTC program, was up 21.7% from August, and up 2.9% from the total of $426.39 million reported for September 2006. With a year-to-date total of $3,076.65 million, 2007 was up 6.7% compared with 2006.
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These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.
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Evidence that manufacturing is alive and well in the U.S. can be seen in September’s extraordinary surge in manufacturing technology orders,” said John B. Byrd III, AMT president. …

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Home Depot Sales Down 3.5% in 3Q

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

Home improvement retailer The Home Depot, Atlanta, GA, reported third quarter 2007 profits of $1.1 billion, compared with $1.5 billion, or $0.73 per diluted share, in the same period in fiscal 2006.
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Sales for the third quarter were $19 billion, a 3.5% decrease from the third quarter 2006, reflecting negative comparable store sales of 6.2%, offset in part by sales from new stores.
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The sale of HD Supply was completed on Aug. 30, 2007, and the company reflects the results of HD Supply as a discontinued operation. The operating results and financial impact of the sale of HD Supply are listed as a one-line item on the income statement. Earnings from discontinued operations were $20 million, down 26.8%.
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We are facing a tough environment as …

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Worthington Acquires Stake in LEFCO

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

Worthington Industries, Columbus, OH, announced that its subsidiary, Worthington Steelpac Systems, LLC, has acquired a 49% interest in LEFCO Industries, LLC, a minority business enterprise.&nbsp ; The resulting joint venture will become LEFCO Worthington, LLC.&nbsp ; In addition to continuing LEFCO’s existing products, the joint venture will manufacture steel rack systems for a variety of industries, including automotive and trucking.&nbsp ;
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LEFCO operates a manufacturing facility in Cleveland, OH, where the company produces engineered wooden crates and specialty pallets.&nbsp ; Worthington Steelpac and LEFCO have been working in a strategic alliance for the past two years to assess opportunities for an MBE supplier in the steel rack fabrication market.&nbsp ; With …

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Rexel North America Sales Fall 1.7% YTD

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

Electrical distributor Rexel reported sales were up 3.5% in the first nine months of 2007 to 7.9 billion euro (US$11.5B). Profit before IPO costs was up 57%.
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During the third quarter of 2007, Rexel saw continued growth in Europe and Asia-Pacific, led by the industrial and commercial end-markets while sals trends in North America were comparable to the second quarter. & hellip; Looking ahead, our proposed full-cash offer for Hagemeyer marks our confidence in the quality of Rexel’s business model and would provide compelling development opportunities for our Group,” says Jean-Charles Pauze, CEO.
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Rexel is in negotiations to acquire Hagemeyer NV for $4.5 billion, based on current exchange rates. The offer is 4.85 euro per share. Rexel would then sell the …

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Drill-bit Supplier Varel Sold to Private Equity Firm

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

KRG Capital Partners, a Denver, CO-based buyout firm, has sold drill-bit manufacturer Varel International to an affiliate of Atlanta-based private equity firm Arcapita, Inc. for $369 million. Varel, based in Carrollton, TX, is focused on the oil and gas, mining and industrial industries.

Varel produces polycrystalline diamond compact and roller cone bits for the oil and gas drill bit market, as well as roller cone bits for other mining and industrial applications.
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With operations and sales offices in 41 countries, Varel serves a broad range of national and multi-national oil and gas companies and generates 50% of its revenue outside North America. …

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Rexel in Negotiations to Acquire Hagemeyer for $4.5B

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

Hagemeyer and Rexel entered exclusive negotiations aimed at finalizing an agreement under which Rexel would make an all-cash offer of & euro; 4.85 per share, approximately 3.1 billion euro in total, or US$4.5 billion. Under the agreement, Hagemeyer’s Management and Supervisory Boards would recommend Hagemeyer accept this offer.
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The offer is up from Rexel’s original bid of & euro; 4.60, which had valued the company at US$4.3 billion.
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Rexel’s agreement with Sonepar will stand. As part of that agreement, Rexel will sell Sonepar the American, Asian-Pacific and select European activities of Hagemeyer.
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For Rexel’s part, in the original proposal, it said it would acquire Hagemeyer’s Professional Products & Services (PPS) activities in the Baltic …

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U.S. Construction Statistics: Third Quarter 2007

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

Download below U.S. Construction Statistics for the third quarter 2007, including housing starts and construction spending …

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News Digest 3721

Free, Subscriber Only /

Hagemeyer and Rexel have entered exclusive negotiations aimed at finalizing an agreement under which Rexel would make an all-cash offer of & euro; 4.85 per share, approximately & euro; 3.1 billion in total, or US$4.5 billion. Under the agreement, Hagemeyer’s Management and Supervisory Boards would recommend Hagemeyer accept this offer. The offer is up from Rexel’s original bid of & euro; 4.60, which had valued the company at US$4.3 billion Rexel’s agreement with Sonepar will stand to sell Sonepar the American, Asian-Pacific and select European activities of Hagemeyer. More

3M,

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U.S. Monthly Wholesale Trade: September 2007

Economic Trends, Research & Analytics, Subscriber Only /

September 2007 sales of merchant wholesalers, except manufacturers’sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $366.8 billion, up 1.3 percent from the revised August level and were up 9.9 percent from the September 2006 level.

The August preliminary estimate was revised upward $1.3 billion or 0.4 percent. September sales of durable goods were up 0.3 percent from last month and were up 4.6 percent from a year ago. Compared to last month, sales of motor vehicle and motor vehicle parts and supplies were up 4.1 percent, while sales of metals and minerals, except petroleum, were down 3.7 percent.

Sales of nondurable goods were up 2.1 percent from last month and were up 15.1 percent from …

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MDM Interview: Distribution IT in Transition

Subscriber Only, Technology, Top Distributor Sectors /

Doug Levin has been involved in distribution information technology for more than 20 years. He is well known in many distribution sectors as the former executive vice president of Prophet 21 software company, acquired by Activant Solutions in 2005. In this interview, the guy who sold a lot of technology systems urges distributors to optimize current systems first. Here's Levin's perspective on IT best practices, standards, consolidation and challenges ahead.

MDM: What's your perspective on the consolidation you've seen in distribution software over 20 years, some of which you actively drove in your role with Prophet 21? Have distributors benefited?
 
Doug Levin: It has probably gone from 30 companies that focus specifically on distribution …

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U.S. MARKET ANALYSIS: MRO Product Consumption in 2007

Market Analysis, Research & Analytics, Subscriber Only /

According to the MDM/Industrial Market Information MRO Market Analysis, the U.S. market size in 2007 for the 126 MRO industrial product groups is $445.7 billion. (Prior-year data available at&nbsp ; the MDM Databank&nbsp ; are not directly comparable due to slight variations in product groups included.)

Estimates are based on data compiled by Industrial Market Information, Minneapolis, MN, and analyzed by MDM. Definitions for the 126 individual product categories used to estimate the market size are on p. 6 of this section.

Two aggregate subgroups were measured, as well. Manufacturing & Utilities sectors consumed $229.8 billion in MRO products across these 126 product groups.

Construction & Mining sectors consumed $97.8 …

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MDM November 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 subscribe. …

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Commentary: Data Standards Need Leadership

Perspective, Subscriber Only, Technology /

As a good friend once observed, success in distribution is not so much hitting home runs or triples, but executing singles well and celebrating the occasional double. (The baseball analogy might be a little late but only because the World Series ended too early).
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It would be nice to apply that thought to the area of data standards in distribution, but we can’t. There are some isolated sectors where there have been successes, most notably in electronics and electrical product sectors. But most areas in distribution have been striking out or at best getting an infield hit every once in a while. Not surprising really, when you consider how fragmented this industry is at every level.
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For more than 20 years, there have been efforts to connect distributors with …

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Air Liquide Expands Capacity in Germany

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

Air Liquide Deutschland GmbH set up one of the largest units in Germany for the liquefaction of gases (nitrogen, oxygen and argon) in the Ulm region.
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With this investment of nearly & euro; 60 million, the Air Liquide Group is reinforcing its supply network for industrial gases.
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The Group also hopes to meet the needs of customers in Germany, particularly in automobile construction, mechanical construction, electrical engineering, food processing, as well as in technological development.

The start-up of the unit is scheduled for the end of 2009.

Air Liquide in Germany has around 2,000 employees and serves 300,000 customers. With a sales volume of & euro; 940 million (2006), Air Liquide is the second largest provider of industrial …

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Womack Machine Supply Buys Interstate Hydraulics

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

Double Rocker Holdings, Inc., parent company of Womack Machine Supply Company, has acquired Salt Lake City, UT-based Interstate Hydraulics, Inc.
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This is a great moment for Womack Machine Supply as we continue our diversification and growth into new markets and adjacent states.” said Mike Rowlett, CEO of Womack Machine Supply.
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Interstate Hydraulics distributes many of the same product lines as Womack (BRH, BRP, BRC, Hydac, Auburn Gear, Haldex Barnes, and Thermal Transfer) and operates a hydraulic repair center in Salt Lake City. The industries they serve include metals, mining, motor vehicle parts, material handling, farm machinery, construction machinery, oil & gas equipment, logging and general manufacturing.
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The addition of IHI allows …

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Alfa Laval to Buy Finnish Supplier

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

Alfa Laval -supplier in heat transfer, centrifugal separation and fluid handling -has agreed to acquire the Finnish company Fincoil-teollisuus Oy from Carrier Corp., a subsidiary of United Technologies Corp. Alfa Laval will pay SEK 425 million in cash (US$67 million).

The company manufactures and markets products for industrial cooling applications. Fincoil has a turnover of SEK 375 million and 150 employees.

Fincoil is established in the Nordic countries, the Baltic countries and Russia. About 80% of its sales are exported. Fincoil has one manufacturing site outside Helsinki in Finland.

The acquisition of Fincoil is in line with Alfa Laval’s strategy to expand the presence in the European air heat exchanger market, which we estimate has a size of …

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Rockwell Automation Sales Up 10% in 2007

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

Rockwell Automation, Inc., Milwaukee, WI, reported full year 2007 sales of $5 billion, up 10% from 2006. Foreign currency translation added 3 percentage points and acquisitions added 1 percentage point to the growth rate.

Profit was $1.48 billion, which includes an after-tax gain of $868.2 million related to the Power Systems divestiture. Excluding this and other one-time charges, profit was $597 million for the year.

Sales in the fourth quarter 2007 were $1.37 billion, up 15% from the prior-year period. Organic growth was 8%. Profit was $165.2 million, slightly down from the same period a year ago.

Control Products & Solutions fourth quarter sales were $801 million, an increase of 20 percent compared to sales of $667.4 million in the fourth quarter of …

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