July 29, 2008

International Sales Remain Strong for Industrial Manufacturers

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

International sales remained the bright spot for industrial manufacturers in a recent survey by PricewaterhouseCoopers LLP. International sales in the second quarter 2008 remained strong for those who sell abroad, increasing for 66% of respondents in the firm’s quarterly Manufacturing Barometer. International sales projections for the next 12 months increased slightly to 38% of revenue, three points higher than both the prior quarter and the second quarter 2007.

However, of those industrial manufacturers selling abroad, almost two-thirds are either pessimistic (27%) or uncertain (36%) about the world economy over the next 12 months, an increase from 22% a year ago.

Overall, pessimism and uncertainty about the domestic and world economies reached a five-year high …

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Linde Canada Acquires P&B Industrial Sales

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

Linde Canada, Mississauga, Ontario, a member of The Linde Group, has acquired P&B Industrial Sales Inc., a Sudbury, Ontario-based distributor of welding gases and equipment.

P&B was a privately owned company that has been in business since 1992, serving customers ranging from small to mid-sized manufacturers and fabrication shops in Sudbury and the surrounding areas.

P&B’s employees, some of whom have over 30 years of experience with welding gases and equipment, bring expertise coupled with strong customer relationships in the Sudbury area. They will make an excellent addition to our already strong team in that region,”said Chris Ebeling, vice president and general manager, Linde Canada.

Linde Canada is a supplier of gases, welding equipment and safety …

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Crane Co. Sales Up 5% in 2Q

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

Crane Co., Stamford, CT, a diversified manufacturer of industrial products, reported second quarter 2008 sales of $693.5 million, an increase of 5% over second quarter 2007. Second quarter profit was $59 million, a 29% increase from the prior year period.

The increase in sales includes a 1% growth in core business, 1% benefit from acquisitions and divested businesses, and a favorable foreign currency translation.

For the first six months, sales were $1.37 billion, an increase of 6% over the first six months 2007. Profit was $107.4 million, a 20% increase from the prior year same …

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Charlotte Winnelson Opens Kitchen and Bath Showcase

Companies, Free, HVACR, News, Plumbing Products & PVF Distribution, Subscriber Only, Top Distributor Sectors / MDM Staff

Charlotte Winnelson Co., Charlotte, NC, has opened the Win Kitchen and Bath Showcase where contractors and their customers, as well as architects and designers, can view and see in action the latest items for homes and businesses.

Charlotte Winnelson is associated with WinWholesale Inc., a national wholesale distributor serving Charlotte and the surrounding area. The 3,500-square-foot showroom also provides cabinetry and countertops.

We created the showroom as a one-stop shop for kitchen and bath needs in new construction and remodeling,”said Steve Technik, Charlotte Winnelson president.

Among the many products in the showroom are 53 working displays of faucets, sinks, toilets, whirlpool tubs, a steam unit, showerheads and fireplaces that allow …

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A.M. Castle Sales Up 6.6% in 2Q

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

A. M. Castle &Co., Franklin Park, IL, a distributor of specialty metals and plastic products, reported sales for second quarter ended June 30, 2008, were $397.1 million, an increase of 6.6% from second quarter 2007. Profit was $11.3 million, down 30.7% from the prior year.

Overall demand in our key strategic end-markets remained solid during the second quarter of 2008,”said Michael Goldberg, president and CEO of A. M. Castle. “In particular, we saw continued healthy demand from our heavy equipment and oil and gas end-markets, and when combined with increasing tons sold per day and higher prices for certain products, we experienced solid revenue growth compared to the prior year. However, significant material cost increases for carbon products pressured our margins resulting …

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Survey: Middle-Market M&A Professionals Frustrated With Market

Finance, Free, Mergers & Acquisitions, News, Subscriber Only / MDM Staff

The latest survey of middle-market merger professionals by the Association for Corporate Growth (ACG) and Thomson Reuters reveals frustration with the current M&A environment, but cautious optimism for the next six months.

According to the ACG-Thomson Reuters Mid-Year 2008 DealMakers Survey, the percent of middle market mergers and acquisitions professionals who say the current M&A environment is good or excellent has dropped to 43% from 93% 12 months ago. The figure was 72% in December 2007.

The more than 500 investment bankers, private equity professionals, corporate development executives, lawyers, accountants and business consultants polled say the greatest obstacle to M&A activity is the weak economy (45%).

According to Thomson Reuters, …

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Lean: It’s About the Little Things

Free, Strategy, Subscriber Only / Jenel Stelton-Holtmeier

Lean operation -finding ways to reduce costs and increase efficiency by improving internal processes -is not a new concept. Companies, starting with Toyota, began exploring the idea more than half a century ago, according to the Lean Enterprise Institute. But it wasn’t until the 1980s that most U.S. manufacturers began recognizing how the process could help them. And it’s taken roughly 20 years for many distributors to follow suit.

Chuck Cohen, president of Benco Dental, attributes the hesitancy of U.S. companies to embrace lean operations on the simple fact that we are a Big Gulp society”-we’re looking for the one thing that will slake our thirst instead of realizing that the best results may actually come in smaller packages.

“We have to stop asking ourselves …

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Building Materials Holding Corp. In Danger of Breaching Loan Covenants

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

San Francisco, CA-based Building Materials Holding Corp. announced it is out of compliance with financial covenants under its current credit facility, based on preliminary evaluation of its financial results for the second quarter ended June 30, 2008.

The company has been in discussions with lenders to address the default and prevent disruption to business operations. BMHC expects it will reach an agreement on a temporary waiver of covenants to preserve liquidity and an amendment to the credit facility that will better reflect current market conditions.

Continuing weakness in the residential housing market has troubled the provider of building materials and construction services for the past year, leading to facility closures in California and Arizona. Employee …

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July 29, 2008

International Sales Remain Strong for Industrial Manufacturers

Linde Canada Acquires P&B Industrial Sales

Crane Co. Sales Up 5% in 2Q

Charlotte Winnelson Opens Kitchen and Bath Showcase

A.M. Castle Sales Up 6.6% in 2Q

Survey: Middle-Market M&A Professionals Frustrated With Market

Lean: It’s About the Little Things

Building Materials Holding Corp. In Danger of Breaching Loan Covenants

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