July 28, 2008

Grainger Settles Government Case for $6M

Companies, Free, Legal Issues in Wholesale Distribution, News, Operations, Subscriber Only / MDM Staff

Chicago, IL-based Grainger has agreed to a settlement of $6 million with the U.S. Department of Justice to resolve a Trade Agreements Act and Sourcing complaint, which alleged that Grainger overcharged the government and illegally relabeled products manufactured in non-trade agreement countries so they could be sold to the U.S. government.

The whistleblower case was unsealed in January 2008 in a federal court in Wisconsin. Grainger said it resolved the complaint to avoid further costly legal fees.” The complaint was initially filed by Brian M. Holbrook, a former district sales manager of government sales at Grainger, in 2006. He worked for Grainger starting in December of 2004.

“We value our reputation with our customers and are committed to operating …

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NorthEast Electrical Distributors Opens New Location

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

NorthEast Electrical Distributors, Canton, MA, a subsidiary of Sonepar USA, has opened a new branch in Milford, MA. The new location occupies 7,400 square feet, including a 1,400-square-foot storefront and merchandised counter area.

NorthEast has been serving contractors in this area for quite some time, and in order to meet all the needs of current and future customers, we elected to be closer to their day-to-day business,”said Don Block, president of NorthEast Electrical Distributors.

The new facility will hold an inventory valued at over $300,000. A grand opening event is planned for September.

NorthEast has 33 …

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Barnes Group Sales Up 6% in 2Q

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

Barnes Group Inc., Bristol, CT, aerospace and industrial components manufacturer and distributor, reported second quarter 2008 revenues were up 6% to $382.9 million driven by strong demand in the aerospace manufacturing and aftermarket businesses and international industrial businesses.

Profit was $34.6 million, a 22% increase.

Barnes Aerospace sales were $114.4 million in the second quarter, an increase of 24% from the prior-year period. Second quarter sales reflect growth of 30% in aftermarket sales. Barnes Group reports it remains optimistic about continued growth of the aerospace sector even though industry dynamics including higher fuel prices and recently announced plans to retire older aircraft have created additional levels of caution.”

Growth …

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Black & Decker Sales Fall 3% in 2Q

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

The Black &Decker Corp., Towson, MD, reported sales were down 3% to $1.6 billion in the second quarter 2008, including a positive 5% impact from foreign currency translation.

Profit for the second quarter of 2008 was $96.7 million, versus $118.0 million for the second quarter of 2007.

The manufacturer of power tools and accessories, hardware and home improvement products, and technology-based fastening systems said weak demand in the U.S. and slowing conditions in parts of Western Europe hurt results.

Power Tools and Accessories sales decreased 10% in the quarter. In the U.S. Industrial Products group, sales were down at a double-digit rate, and the U.S. Consumer Products Group saw a sales decrease of more than 25%.

In Europe, sales were …

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Owens & Minor Sales Up 5.4% YTD

Free, News, Pharmaceutical & Health Care, Subscriber Only, Top Distributor Sectors / MDM Staff

Owens &Minor, Richmond, VA, reported revenue for the second quarter ended June 30, 2008, was $1.79 billion, up 6.9% from the prior-year period. Profit was $23.6 million, an increase of 29%.

For the six months ended June 30, 2008, revenue was $3.55 billion, up 5.4%. Profit for the first half was $47.8 million, up …

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Are Industrial Distribution & Manufacturing ‘Dying Industries’?

Economic Trends, Free, Research & Analytics, Subscriber Only / Lindsay Young

In my regular reading of the Wall Street Journal, I came across an interesting comment on a column focused on helping parents help their children find a career path “that will lead to financial security.” The reader’s comment in response to a request for advice: “Do not pursue dying industries, such as journalism (no offense), the law (unless you can gain admittance to a top 10 school) or (most) industrial jobs.”

The comment didn’t fit with what I hear at various distribution association conferences, where industrial distributors and manufacturers often bemoan a lack of skilled workers with management potential. Industrial distribution and manufacturing are …

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Are Industrial Distribution & Manufacturing ‘Dying Industries’? Read More »

July 28, 2008

Grainger Settles Government Case for $6M

NorthEast Electrical Distributors Opens New Location

Barnes Group Sales Up 6% in 2Q

Black & Decker Sales Fall 3% in 2Q

Owens & Minor Sales Up 5.4% YTD

Are Industrial Distribution & Manufacturing ‘Dying Industries’?

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