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2007

Hagemeyer Expands in Latvia

Companies, Free, News, Subscriber Only /

Hagemeyer NV has acquired SIA Kolorits, an electrical distributor based in Riga, Latvia. The acquisition was made through its Finnish subsidiary Elektroskandia Oy, and doubles the company’s revenues in the country.
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Kolorits has annual revenues of more than & euro; 10 million and is active in the Construction and Installation market. The company has over 80 employees and a branch network covering the major Latvian cities. …

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Barnes Distribution Organic Sales Fall 1% in 3Q

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

Barnes Group Inc., Bristol, CT, aerospace and industrial components manufacturer and distributor, reported third quarter 2007 sales of $360.4 million, an increase of 11.9%.
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The sales increase reflected $25.4 million of organic sales growth primarily at Barnes Aerospace. Acquisition-related growth contributed $6.8 million due to the KENT acquisition within Barnes Distribution. Foreign currency translation favorably impacted sales by approximately $6.2 million in 2007.
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Profit was $27.7 million, up 46.7% from the prior-year period.
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Barnes Aerospace
Barnes Aerospace generated sales of $103.2 million in the third quarter 2007, an increase of 33.6%. The third quarter 2007 sales increase reflects growth of 36.3% in aftermarket sales. …

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HD Supply Taps New White Cap Chief

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

HD Supply, Atlanta, GA, diversified wholesale distributor of construction and maintenance products, has tapped Tom Lazzaro, president of HD Supply’s Interiors business (CTI), as president of the Construction Supply business (HD Supply White Cap) while continuing to serve in his current role.&nbsp ;
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Brian Etter, president of HD Supply White Cap, is leaving the company to become the CEO of an international motor sports company.
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Lazzaro joined HD Supply in August 2006.
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HD Supply is a wholesale distribution company focused on serving professional customers in the infrastructure, construction, maintenance, repair and remodel markets. HD Supply has nearly 1,000 …

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Canadian Wholesale Revenues Fall 2% in August

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

Source: Statistics Canada
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Weaker sales of automotive products and machinery and electronic equipment pushed wholesale sales substantially lower in August, bringing to an end a string of three straight monthly increases.

Wholesale sales fell&nbsp ; 2.0% to an estimated&nbsp ; $43.2&nbsp ; billion in August. The decline completely offset the gains of&nbsp ; 1.8% in July and&nbsp ; 0.3% in June.

Around half of the decline in August was due to weaker sales of automotive products (-5.3%), more than offsetting last month’s gain (+3.5%). The machinery and electronic equipment sector also had a slow month as sales fell&nbsp ; 4.2%, but this followed three months of strong gains. The other notable decline came in the building materials sector (-2.2%), …

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Wood Flooring Distributor Hoboken Closes Doors

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

The largest wood flooring distributor in the U.S., Hoboken Wood Flooring LLC, Wayne, NJ, has shut its doors, according to news reports.

According to a report this week from local paper The Record, sales had fallen about 25% each month for the past year -the distributor’s commercial business development manager attributed the losses to the housing downturn, competition from manufacturers going direct, the company’s push to expand nationally and potentially even go public.

The next step for Hoboken is to file for bankruptcy, though no officials from Hoboken have said whether they would do so. The distributor is already facing a lawsuit from two wood flooring manufacturers, Columbia Flooring Inc., and Millwood Specialty Flooring Inc., filed in New Jersey …

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RBC Bearings 2Q Sales Up 6.8%

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

RBC Bearings Inc., Oxford, CT, manufacturer of highly-engineered precision plain, roller and ball bearings for the industrial, defense and aerospace industries, reported sales for its second quarter 2008 were $78.2 million, an increase of 6.8% from the same period a year ago.

Profit was $8.7 million up from $7.4 million in the same period a year ago.

Sales for the six-month period ended Sept. 29, 2007, were $158.1 million, an increase of 6.4% from the six-month period in 2006.

Profit for the six-month period was $18.6 million compared with $12.4 million for the same period last year.

Over the next 30 months, the Company plans to invest up to $30 million in equipment to expand its operations to produce large diameter anti-friction bearings for the oil, …

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Katy Industries to Sell Electrical Products Group

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

Katy Industries, Inc., Arlington, VA, has agreed to sell its Electrical Products Group, comprised of Woods Industries Inc. and Woods Industries (Canada) Inc., to Coleman Cable Inc. for $45 million.
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The Group designs and distributes consumer electrical corded products and electrical accessories that are sold to national home improvement and mass merchant retailers. The operations are in Indianapolis, IN, and Toronto, Ontario.
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This transaction will move Katy to a single-business model which will allow the organization to further focus its resources on our core business, Continental Commercial Products, which services the janitorial/sanitary and food service markets,” said Anthony T. Castor III, president and CEO of Katy Industries.
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After the sale …

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Schneider Electric Forms Joint Venture in China

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

Schneider Electric has finalized the formation of Delixi Electric, its new 50/50 joint venture in China for low-voltage products.
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The joint venture will be focused on the manufacturing, marketing and distribution of low-voltage products to the Chinese market. It will also expand its business model into targeted countries.
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Delixi employees about 14,000 employees across China.
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Schneider has 112,000 employees and operations in 190 countries. It had sales of & euro; 13.7 billion in …

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Interline Brands 3Q Sales Up 5.1%

Companies, Facilities Maintenance (MRO), Free, News, Subscriber Only, Top Distributor Sectors /

Interline Brands, Inc., Jacksonville, FL,&nbsp ; a distributor and direct marketer of maintenance, repair and operations products, reported sales were up 5.1% in the third quarter 2007 ended Sept. 28. Sales were $330.2 million.
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Interline attributed the growth to solid performance in its facilities maintenance end market, which grew at 13.9% on an average organic daily sales basis.
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Revenues in the professional contractor and specialty distributor markets fell 10.4% in the third quarter.
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Sales for the nine months ended Sept. 28 were $938.8 million, a 21.3% increase over the comparable 2006 period. Sales from the July 2006 acquisition of AmSan represented a 17% increase in sales for this nine-month period. Average organic daily sales growth for …

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Manufacturing Growth Slows to Lowest Level Since March

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

Economic activity in the manufacturing sector expanded in October, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.
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However, manufacturing growth slowed to its lowest level since March 2007. While the New Orders Index continued to grow and the Production Index fell below 50 for the first time since January 2007, the Employment Index grew slightly, signaling continuing strength in manufacturing employment.
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It does appear that the impact of the slowdown in the financial, housing and transportation segments has spilled over into manufacturing with the exception being continued strength in new export orders, ISM reports.
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WESCO Buys J-Mark

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

WESCO International, Inc., Pittsburgh, PA, a provider of electrical MRO products and construction materials, has acquired J-Mark Inc., Phoenix, AZ. J-Mark, with four locations in the U.S. and annual sales of $30 million, is a provider of interior products and components to the manufactured housing industry.
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The move strengthen’s WESCO’s position in the manufactured housing industry. J-Mark’s president and CEO said that its offshore sourcing capabilities would also be of strategic use to WESCO.
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WESCO International’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 also a provider of integrated …

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Moro Corp. Acquires J& J Sheet Metal Works

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

Moro Corp., Wayne, PA, has acquired J & J Sheet Metal Works, Vestal, NY.
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J & J fabricates and installs commercial grade sheet metal products used in the heating, ventilating and air conditioning (HVAC) industry.
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The company’s customers are primarily mechanical contractors doing HVAC work for schools, hospitals, and industrial, commercial and governmental buildings. The company’s customers are primarily in the Southern Tier Region of New York State.
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Moro is a construction products and services company engaged in the fabrication of concrete reinforcing steel (rebar), sheet metal (duct work), structural steel and process piping, the distribution of construction steel, miscellaneous steel and construction accessories, and …

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McJunkin-Red Man Merger Closes

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Industrial and oilfield PVF distributors McJunkin Corp. and Red Man Pipe and Supply Co. have completed their merger, forming McJunkin Red Man Corp. The new company will have headquarters in both Charleston, WV, and Tulsa, OK.
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McJunkin CEO and President H.B. Wehrle III and Red Man Pipe and Supply Company President and CEO Craig Ketchum will serve as Co-Chief Executive Officers for the new company.

McJunkin Red Man Corporation remains a privately held firm.
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In January 2007, Goldman Sachs Capital Partners became a substantial investor in McJunkin …

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3M Acquires Standard Abrasives

Chemicals & Plastics Distribution, Companies, Finance, Free, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors /

3M, St. Paul, MN, has acquired Standard Abrasives, a manufacturer of coated abrasive specialties and non-woven abrasive products for the metalworking industry.
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With this acquisition we are joining two great abrasive companies and brands, both of us successful, and both of us with proud histories of innovation that are now coming together to drive towards a very bright future,” said Chris Holmes, vice president and general manager, 3M Abrasive Systems Division.
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Standard Abrasives employs 375 people and is headquartered in Simi Valley, CA. …

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Legrand Expands in Mexico

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

Electrical supplier Legrand has acquired Macse, a Mexican producer of metal cable trays.
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The move strengthens Legrand’s presence in Mexico, a high-growth market where it is already a player in wiring devices and energy distribution.
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Macse reported 2006 sales of close to & euro; 10 million (US$14 million).
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In Mexico, sales have risen 15% since the beginning of the year.
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This move follows a series of acquisitions since the beginning of the year, including HPM, No. 2 in wiring devices in Australia; UStec, an American company specializing in residential structured cabling; and Kontaktor, Russia’s No. 1 in high-current circuit-breakers. Together the four companies are expected to generate annual sales of over & euro; 170 million …

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Parker Hannifin Buys Shaw Aero Devices

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

Parker Hannifin Corp.’s Parker Aerospace has acquired Shaw Aero Devices, Inc., Naples, FL, a producer of aerospace components and equipment.
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Shaw Aero Devices, Inc. has 250 employees. The company, which invented patented safety-lock, flush- mounted fuel and lightning safe caps, also produces other caps and adapters, fuel system components, lubrication and hydraulic system equipment, and water and waste components for aerospace markets, including both commercial and military aircraft and their engines.
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The business had sales of $45 million in 2007.
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Shaw Aero Devices will be integrated into Parker Aerospace’s Air & Fuel Division, in Irvine, California.
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Parker Hannifin designs, manufactures, and services flight control, …

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SPX Corp. to Buy APV for $510M

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

SPX Corp., Charlotte, NC, has agreed to buy APV, a global manufacturer of process equipment and engineered solutions primarily for the sanitary market, for 250 million British pounds (US$510 million). APV is a division of Invensys plc, an industrial automation, transportation and controls group based in London.
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APV will become a part of SPX’s flow technology segment. APV’s primary products include pumps, valves, heat exchangers and homogenizers for the food, dairy, beverage and pharmaceutical industries. Revenues for APV were $800 million for the fiscal year ended March 31, 2007.
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APV is a strong strategic fit with SPX and will expand our manufacturing, sales and distribution operations for process equipment in Europe, Asia Pacific and worldwide,” said Chris …

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September Construction Spending Slightly Below 2006

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

Construction spending in September 2007 was estimated at a seasonally adjusted annual rate of $1,162.8 billion, 0.3% above the revised August estimate. The September figure is 0.8% below the September 2006 estimate.
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During the first nine months of this year, construction spending was $872.2 billion, 3.2% below the same period in 2006.
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Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $869.0 billion, 0.2% below the revised August estimate. Residential construction was at a seasonally adjusted annual rate of $511.4 billion in September, 1.4% below the revised August estimate. Nonresidential construction was at a seasonally adjusted annual rate of $357.7 billion in September, 1.5% above the revised August …

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NAHB: Housing Market Should Stabilize in 2008

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

Though there is currently downward momentum" in the housing market right now, the downswing is poised to move back up again in 2008, economists at a recent National Association of Home Builders forecast conference said.

The economists gave these reasons:

  • The overall economy and job growth continue to move ahead at a decent pace;
  • Core inflation is under control;
  • The late-summer credit crunch in mortage markets is easing; and
  • And the supply-demand equation will balance out as builders "whittle down" excess inventory.

"Home sales should bottom out by …

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Rockwell Collins Sales Up 13% in Fiscal 2007

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

Rockwell Collins, Inc., Cedar Rapids, IA, reported profit for the fiscal year ended Sept. 30, 2007, of $585 million, an increase of 23% over fiscal year 2006. Fiscal year 2007 revenues increased 14%, to $4.42 billion. Organic revenue growth was 13%.
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For the fiscal year 2007 fourth quarter, profit increased 13% to $156 million. Revenues increased $165 million, or 16%, to $1.23 billion from revenues of $1.06 billion last year.
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Government Systems
Government Systems, which provides defense communications and defense electronics systems, products and services, including subsystems, displays, navigation equipment and simulation systems, to the U.S. Department of Defense, other government agencies, civil agencies, defense contractors and foreign …

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