September 16, 2008 - Modern Distribution Management

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September 16, 2008

Canadian Manufacturing Sales Advance 2.7% in July

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

Source: Statistics Canada
 
Current dollar manufacturing sales in Canada continued their broadly-based advance in July, rising 2.7% to $54.1 billion, a fourth consecutive monthly increase. Manufacturers last reported four consecutive months of growth in the first half of 2002.

Overall, 17 out of the 21 manufacturing industries increased compared with June, accounting for over 97% of total sales.

Most of the sales gains in July were due to higher volumes, in contrast to the price-induced increases observed in recent months. In 2002 constant dollar prices, July sales increased 2.0% to $48.2 billion, the highest level since November 2007.

Durable Goods …

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Air Products to Increase Gases Pricing in North America

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

Air Products will increase schedule pricing on liquid oxygen and liquid nitrogen by 8%, liquid argon and liquid and bulk hydrogen by 12% and liquid and bulk helium by 15% to 30% for merchant customers in North America, effective Oct. 1, 2008, or as contracts permit.
 
Air Products attributed the increases to a need to address continued cost pressures and the need for ongoing investment in infrastructure to improve operating efficiencies.”
 
Cost pressures includes material, labor and energy costs and capital investment to meet …

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United Natural Foods Taps New CEO and President

Free, Grocery & Foodservice Distribution, News, Subscriber Only, Top Distributor Sectors /

United Natural Foods, Inc., Dayville, CT, has tapped former Performance Food Group chief Steven Spinner as its new CEO and president.
 
Current President and CEO Michael S. Funk will be chairman of the Board and will remain actively involved in strategic growth initiatives and key customer and supplier relations.
 
Spinner worked as president and CEO of Performance Food Group, one of the largest broad-line foodservice distributors in the U.S., with sales of more than $6.3 billion in 2007. Performance Food Group was acquired by two private equity firms in …

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Illinois Tool Works Revenue Up 10.1% in Latest Quarter

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

Illinois Tool Works Inc., Glenview, IL, reported an operating revenue increase of 10.1 percent for the three months ended August 31, 2008. The double-digit increase in revenue growth for the three months was due to contributions from translation and acquisitions.
 
On a segment basis, the company’s three-month moving average percentage change for operating revenues, comprised of base revenues, acquisitions/divestitures and currency translation, is provided below:
 
Industrial Packaging: +16.6%
Power Systems and Electronics: +13.2%
Transportation: +4.8%
Construction Products: +3.2%
Food Equipment: +11.2%
Polymers and Fluids: +43.5%
Decorative Surfaces: +1.0%
All Other: +4.6%
 
On Aug. 11, 2008, the company announced a plan to divest its …

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Current Financial Market Turmoil: The Potential Impact on Deals & Lending

Finance, Free, Mergers & Acquisitions, Subscriber Only /

Bad news in the financial markets started the week off. Lehman Brothers Holdings Inc. is filing for bankruptcy protection after the Fed would not financially guarantee a buyout of the 158-year-old firm, and Merrill Lynch was sold to the Bank of America. AIG, the global insurance giant, is in big trouble. Stocks tumbled on Monday. The market was flat today until an announcement by the Fed that it would leave interest rates unchanged. That prompted, according to the Wall Street Journal, booing on the floor of the New York Stock Exchange.”
 
So what does the latest not-so-great news from Wall Street mean for deal-making and business lending? I spoke to industry veteran Jon Skelly of PCE Investment Bankers today to gain some perspective on current conditions. Skelly works with …

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