November 2008

Legrand Sales Up 2.9% in First Nine Months

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

France-based electrical distributor Legrand reported sales of €3.2 billion (US$4.1 billion) for the first nine months of 2008, up 2.9% from the first nine months of 2007. Profit, excluding minority interests, was €292.5 million (US$373.1 million), down 2% from the prior year.

In the U.S. and Canada, sales were down 3.5%. Sales in France and Italy rose slightly by 0.4% and 0.9% respectively. Sales in the rest of Europe increased 0.4%, with strong activity in Eastern Europe offsetting steep declines in the Spanish market and an overall slowdown in residential business.

Latin American and Africa/Middle East experienced sales growth of 10.8%. Emerging economies confirmed their role as a growth driver, representing nearly 28% of group total sales. ...

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BMHC Posts $45.2M Loss for 3Q

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

Building Materials Holding Corp., San Francisco, CA, a provider of building materials and construction services to professional residential builders and contractors, reported sales for the third quarter of 2008 were $364 million, down 39% from the same quarter a year ago. The company reported a net loss of $45.2 million, compared to a net loss of $4.2 million in the third quarter of 2007.

For the nine months ended Sept. 30, 2008, sales decreased 39% to $1.1 billion from $1.8 billion in the same period of 2007. BMHC recorded a net loss of $111 million, compared to profit of $18.6 million for the prior year period.

As the unprecedented volatility in the capital markets and the downturn in the homebuilding industry persisted, we remained focused on our goal of ...

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RBC Bearings Sales Up 20.5% for 2Q

Leave a Comment / Free, Top Distributor Sectors, Power Transmission/Motion Control/Fluid Power, News, Subscriber Only / MDM Staff

RBC Bearings Inc., Oxford, CT, an international manufacturer of highly-engineered precision plain, roller and ball bearings for the industrial, defense and aerospace industries, reported sales for the second quarter ended Sept. 27, 2008, were $94.3 million, an increase of 20.5% from second quarter sales a year ago. Profit increased 9.6% to $9.6 million.

For the first six months of fiscal year 2009, sales were $186.7 million, an increase of 18.1% over year-to-date results for fiscal year 2008. Profit improved 9.1% to $20.3 ...

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Lawson Products Sales Drop 2.6% for 3Q

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

Lawson Products, Inc., Des Plaines, IL, a distributor of services, systems and products to the MRO and OEM marketplaces, reported sales for its third quarter of $124.6 million, down 2.6% from the prior year quarter. Profit was $3.1 million, up 28.3% from the third quarter of 2007.

The decline in sales for the third quarter resulted from lower sales in the MRO business, while profit was impacted by increased product and commodity costs.

For the nine months ended Sept. 30, 2008, sales declined 2.8% $375.9 million, as compared to sales for the same period the prior year. Year-to-date, the company recorded a loss of $22.2 million.

Charges of $31.6 million and $4.9 million related to the settlement announced in August of the investigation of the company ...

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Canadian Building Permits Up 13.4% in September

Leave a Comment / Economic Trends, Research & Analytics, Free, News, Subscriber Only / MDM Staff

Municipalities in Canada issued $6.5 billion in building permits in September, up 13.4% following an 11.7% decline in August. September's increase was the result of gains in all three components of the non-residential sector. The total value of building permits increased in seven provinces and two territories.

In the non-residential sector, the value of permits rose 41.7% to $3.2 billion. This increase was generated by a substantial gain in institutional permits, and lesser increases in the industrial and commercial components. Major increases occurred in Ontario, Saskatchewan and Alberta.

In the residential sector, the value of permits fell for the second month in a row and the sixth time in nine months. Housing permits declined ...

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PTDA’s Focus on the Next Generation

Leave a Comment / Human Resources in Wholesale Distribution, Free, Operations, Subscriber Only / Lindsay Young

At the recent Power Transmission Distributors Association annual Industry Summit last week in Miami, I, a member of the next generation," participated in the association's first-ever reception for attendees under the age of 40. The event was part of an overall effort by the association to "assist the next generation of leaders in the power transmission/motion control industry as they begin to take over the reins at their companies."

The reception I attended -"Changes in Latitudes, Changes in Attitudes," after the traditional welcome reception the first night -featured a game in the spirit of Halloween to break the ice and facilitate more effective networking. The association split us into groups (which congregated around numbered tables) and challenged us to create the best ...

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Milacron Sales Down 4% in 3Q

Leave a Comment / Chemicals & Plastics Distribution, Free, Top Distributor Sectors, Power Transmission/Motion Control/Fluid Power, News, Subscriber Only / MDM Staff

Milacron Inc., Cincinnati, OH, global supplier of plastics-processing technologies and industrial fluids, reported a net loss for the quarter ended Sept. 30, 2008, of $2.6 million, compared with a net loss of $4.5 million in the prior-year period.

Sales in the most recent quarter were $195 million, down 4%. New orders of $191 million declined 6%, reflecting lower demand for plastics processing equipment in the automotive and construction industries in North America.

Machinery Technologies-North America sales in the quarter were essentially flat versus the same period last year at $92 million, as depressed U.S. automotive and construction markets dampened sales of injection and extrusion equipment. Sales of blow molding systems improved, as did injection ...

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SKF Buys Argentinean Lubrication Systems Manufacturer

Leave a Comment / Finance, Mergers & Acquisitions, Free, Top Distributor Sectors, Power Transmission/Motion Control/Fluid Power, News, Subscriber Only / MDM Staff

SKF has acquired Cirval S.A., a manufacturer of centralized lubrication systems. Cirval has annual sales of about $2.5 million and 60 employees.

The company has a strong position in engineering, product development and customized solutions, particularly for the steel industry. Its headquarters and manufacturing operation are in Rosario, Argentina.

SKF says the Cirval product line will strengthen its market position in Latin America in lubrications systems, complementing SKF's current lubrication portfolio.

A regional application center for lubrication systems will be established to support the market as a complement to the existing local center in ...

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To Invest or Not Invest: That is the Question During Down Times

Leave a Comment / Finance, Mergers & Acquisitions, Free, Subscriber Only / MDM Staff

Pembroke Consulting's Adam Fein recently led a panel of professors at the Wharton School of the University of Pennsylvania. The conversation touched on a number of timely topics, including the U.S. dollar, exports, China, customer relationships, pricing and the credit and housing bubbles. (Here's the full article.)

Perhaps one of the more interesting parts of the discussion came closer to the beginning. The question: Should firms increase spending during a recession? The answer, provided by Penn State Professor Gary Lilien, was that it depends. He says that those companies with the marketing expertise, a culture that can go against a tough trend and the resources to invest should ...

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3M and ITW Reach Settlement Over Patents

Leave a Comment / Free, Operations, Companies, Top Distributor Sectors, News, Legal Issues in Wholesale Distribution, Subscriber Only / MDM Staff

3M, St. Paul, MN, and Illinois Tool Works Inc., Glenview, IL, reached a mutual settlement concerning issues in patent infringement litigation brought by 3M in June 2006 in the U.S. District Court for the District of Minnesota. The case involved 3M's patent covering its paint preparation system products.

Under the terms of the agreement, ITW acknowledged the validity and enforceability of 3M's patent rights and has taken a license under 3M patents. In addition, the parties have entered into a supply agreement under which 3M will supply a portion of ITW's DeKups system. Other specifics of the agreement are confidential. ...

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Fed Reserve Survey: Smaller Companies May Have More Luck Securing Credit

Leave a Comment / Economic Trends, Research & Analytics, Free, Subscriber Only / Jenel Stelton-Holtmeier

A recent survey by the Federal Reserve System confirms what most of us have already felt: The credit markets continue to tighten as this financial crisis continues. The survey, sent to domestic banks and foreign banks with U.S. branches, asked banks to evaluate how their credit lending standards -both consumer and commercial -compared with three months ago.

Not surprisingly, none of the 76 responding banks reported an easing of credit terms for Commercial and Investment lending. Most indicated that standards were tightening somewhat,"regardless of the size of the borrowing company or the lending institution.

What is interesting to note, however, is that the banks seem to have a bit more confidence in the smaller firms when it comes to lending, excluding financing ...

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Emerson 2008 Sales Up 12%

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

Emerson, St. Louis, MO, reported sales for fiscal 2008 were $24.8 billion, an increase of 12%. Sales for the fourth quarter ended Sept. 30, 2008, were $6.7 billion, an increase of 11%.

Underlying sales in the quarter grew 7%, excluding 2% from favorable currency exchange rates and 2% from acquisitions, net of divestitures. Underlying sales in the U.S. for the fourth quarter increased 1%. International sales increased 13% in the quarter on an underlying basis with Asia increasing 17%, Latin America increasing 25%, Middle East/Africa increasing 14%, and Europe increasing 6%.

The company completed the sale of its European appliance motor and pumps business on Sept. 30, 2008 for $101 million. ...

Emerson 2008 Sales Up 12% Read More »

Parker Hannifin Acquires Nexgen Hose

Leave a Comment / Finance, Mergers & Acquisitions, Free, Companies, Top Distributor Sectors, Power Transmission/Motion Control/Fluid Power, News, Subscriber Only / MDM Staff

Parker Hannifin Corp., Cleveland, OH, manufacturer in motion and control technologies, has acquired Nexgen Hose Inc., Fergus, Ontario, Canada. Nexgen is a manufacturer of industrial PVC hose and tubing for niche and industry standard applications. These products are used in medical, agriculture, mining, diving, potable water/beverage and fire suppression industries.

In 2007, Nexgen recorded revenues of $7.2 million. Nexgen sales will be recorded within the Industrial North America segment of Parker's Fluid Connectors Group.

Nexgen strengthens Parker's position in the North American industrial hose market, broadening our total product offering with the addition of PVC hose and tubing," said Bob Bond, President of Parker's Fluid Connectors ...

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Parker Hannifin Buys Matrx Product Line

Leave a Comment / Finance, Mergers & Acquisitions, Free, Companies, Top Distributor Sectors, Power Transmission/Motion Control/Fluid Power, News, Subscriber Only / MDM Staff

Parker Hannifin Corp., Cleveland, OH, manufacturer in motion and control technology, has acquired Matrx nitrous oxide delivery systems from the Midmark Corp. The new line will allow Parker to expand its geographic market space for dental nitrous systems to global markets outside its current North American base of operations.

Midmark's sales of the Matrx product line in its most recent fiscal year were $7 million.

The Matrx nitrous oxide delivery system includes digital flowmeters, manifold systems, standard analog flowmeters and breathing circuits.

Parker Hannifin has sales of more than $12 billion ...

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NetSuite Sales Up 44% in 3Q

Leave a Comment / Technology, Free, News, Subscriber Only / MDM Staff

NetSuite Inc., San Mateo, CA, vendor of on-demand, integrated business management software suites for mid-market enterprises and divisions of large companies, reported sales for the third quarter ended Sept. 30, 2008, were $40.4 million, a 44% increase over the same period a year ago.

The company recorded a net loss of $1.7 million, compared with a loss of $1.2 million in the prior-year period. The company recorded $874,000 in net foreign exchange rate losses in the third quarter. Excluding the losses, the net loss was $826,000.

Revenue from the Americas for the third quarter of 2008 was $33.2 million, while revenue from international regions outside of the Americas was $7.2 million and now comprises 18% of total revenue. NetSuite added more than 300 new ...

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Fairmont Supply Company Buys North Penn Pipe & Supply

Leave a Comment / Finance, Mergers & Acquisitions, Free, Top Distributor Sectors, Facilities Maintenance (MRO), News, Subscriber Only / MDM Staff

Fairmont Supply Company, Canonsburg, PA, distributor of industrial maintenance, repair and operating (MRO) supplies, has acquired Pennsylvania-based North Penn Pipe &Supply.

Based in Warren, PA, North Penn Pipe &Supply is a supplier to the oil and gas industry. As a wholly owned subsidiary of Fairmont Supply Company, North Penn Pipe &Supply will operate under its current name.

The president of Fairmont Supply Company, Rich Layton, said: Today's acquisition of North Penn Pipe &Supply allows us to expand our role in the key oil and gas market within the U.S. We believe that oil and gas is a significant component in meeting our country's current and future energy needs. Our long-term business plan has been to balance our growth in various key market segments, ...

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Moro Corp. Sales Up 28% in 3Q

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

Moro Corp., Wayne, PA, reported sales of $22.8 million for the third quarter 2008, an increase of 28.1% from 2007. Profit was $695,000, a decrease of 12.6%.

Less profitable contracts and the continuing decline in the housing market drove profitability downward for the Mechanical Contracting division, which deals mostly in HVAC products and services.

For the nine months ended Sept. 30, 2008, sales were $55.1 million, up 15% from the same period the prior year. Profit was $769,000, down 50% in a year-over-year comparison.

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 ...

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WinWholesale Opens Seattle Windustrial

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

WinWholesale Inc., Dayton, OH, has opened Seattle Windustrial in Kent, WA, to provide mechanical contractors from Olympia to Bellingham with a complete line of pipes, valves, fittings and accessories. The new company provides counter sales and delivery service.

Mike Baker is president of Seattle Windustrial. He joined WinWholesale in 1996 and previously was president of Portland Windustrial in Oregon and Elko Windustrial in Nevada.

WinWholesale Inc. is a leading distributor of domestic and industrial supplies and materials. The privately-held company consists of more than 470 wholesaling corporations in which WinWholesale is an equity partner, and also Noland Company, a wholly-owned subsidiary with nearly 100 locations. ...

WinWholesale Opens Seattle Windustrial Read More »

Interline Brands Sales Down 3.8% in 3Q

Leave a Comment / Free, Companies, Top Distributor Sectors, Facilities Maintenance (MRO), News, Subscriber Only / MDM Staff

Interline Brands, Jacksonville, FL, distributor and direct marketer of MRO products, reported sales for the third quarter 2008 were down 3.8% to $317.5 million from the 2007 period. Profit was $13.7 million, down from $15.9 million in the prior-year period.

Interline's facilities maintenance end-market, which comprised 70% of sales, declined 2.4% during the third quarter on an average daily sales basis, and declined 3.7% on an average organic daily sales basis. The pro contractor end-market, which comprised 19% of sales, declined 10.1% in the quarter and the specialty distributor end-market, which comprised 11% of sales, declined 3.6% for the quarter.

Sales in Interline's recently integrated AmSan brand grew by roughly 3.8% on an average organic daily sales ...

Interline Brands Sales Down 3.8% in 3Q Read More »

Parker Hannifin Acquires Aqua Pro

Leave a Comment / Finance, Mergers & Acquisitions, Free, Companies, Top Distributor Sectors, Power Transmission/Motion Control/Fluid Power, News, Subscriber Only / MDM Staff

Parker Hannifin Corp., Cleveland, OH, a manufacturer of motion and control technology, has acquired Aqua Pro, Inc., a manufacturer of reverse osmosis filtration systems for military, commercial and pleasure marine applications. Aqua Pro sales for fiscal 2008 were $33 million. Results will be reported as a component of Parker's Industrial North America segment. Terms of the acquisition were not disclosed.

With manufacturing centers in Gardena and San Fernando, California, Aqua Pro does business as Village Marine Tec and Offshore Marine Laboratories. Sales and service locations are located in California, Florida, Hawaii, Virginia, and Washington. The company sells to Original Equipment Manufacturers including boat and ship builders, independent distributors, U.S. military ...

Parker Hannifin Acquires Aqua Pro Read More »

November 2008

Legrand Sales Up 2.9% in First Nine Months

BMHC Posts $45.2M Loss for 3Q

RBC Bearings Sales Up 20.5% for 2Q

Lawson Products Sales Drop 2.6% for 3Q

Canadian Building Permits Up 13.4% in September

PTDA’s Focus on the Next Generation

Milacron Sales Down 4% in 3Q

SKF Buys Argentinean Lubrication Systems Manufacturer

To Invest or Not Invest: That is the Question During Down Times

3M and ITW Reach Settlement Over Patents

Fed Reserve Survey: Smaller Companies May Have More Luck Securing Credit

Emerson 2008 Sales Up 12%

Parker Hannifin Acquires Nexgen Hose

Parker Hannifin Buys Matrx Product Line

NetSuite Sales Up 44% in 3Q

Fairmont Supply Company Buys North Penn Pipe & Supply

Moro Corp. Sales Up 28% in 3Q

WinWholesale Opens Seattle Windustrial

Interline Brands Sales Down 3.8% in 3Q

Parker Hannifin Acquires Aqua Pro

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