2008 - Page 28 of 59 - Modern Distribution Management

Log In

Search

2008

Kennametal Taps New Chief for Metalworking Unit

Free, News, Subscriber Only, Top Distributor Sectors /

Kennametal Inc., Latrobe, PA, has tapped a new chief for its Metalworking Solutions Services Group. Paul DeMand will take the position of president for the unit, which comprises about 60% of Kennametal’s overall revenues.
 
Before joining Kennametal, DeMand was senior vice president and division head of the Industrial Products Group at Johnson Electric, Ltd., Hong Kong. Before holding that position, he was vice president, Electro-Mechanical at Solectron Corp. in …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

Kennametal Taps New Chief for Metalworking Unit Read More »

Canada: Nonresidential Investment Up 0.8% in 2Q

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

Source: Statistics Canada
 
Rising construction prices contributed to a 0.9% increase in current dollars in investment in non-residential building construction in Canada in the second quarter of 2008.
 
Canadian investment reached $10.5 billion between April and June as the increase was led by spending on medical facilities and office buildings.
 
However, after taking into account higher construction prices, investment in non-residential construction declined 3.7% in 2002 constant dollars.
 
Investment increased in all three components from the first quarter. In the commercial component, it rose 0.8% to $6.5 billion. In the industrial component, it went up 1.6% …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

Canada: Nonresidential Investment Up 0.8% in 2Q Read More »

Applied Industrial Agrees to Buy Fluid Power Resource Businesses for $169M

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

Applied Industrial Technologies, Cleveland, OH, has agreed to buy Fluid Power Resource, LLC, businesses.
 
The 19-location acquisition includes distributors Bay Advanced Technologies, Carolina Fluid Components, DTS Fluid Power, FluidTech, Hughes HiTech, Hydro Air, and Power Systems. The businesses together employ 455 people and had 2007 sales of $244 million.
 
The purchase price is $169 million in cash.
 
Each of the businesses will operate as a subsidiary of Applied and will maintain their current local identities. The companies will be led by Warren E. (Bud) Hoffner, who oversees Applied’s fluid power business unit. FPR companies distribute pumps, motors, valves, actuators, cylinders, manifolds, hose fittings, connectors, FRL’s, gear boxes, …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

Applied Industrial Agrees to Buy Fluid Power Resource Businesses for $169M Read More »

May Machine Tool Consumption Up 17.2% Year-to-Date

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

May U.S. manufacturing technology consumption totaled $341.21 million, according to the American Machine Tool Distributors’Association and the Association For Manufacturing Technology. This total, as reported by companies participating in the USMTC program, was down 16.4% from April, but up 2.2% from the total of $333.80 million reported for May 2007. With a year-to-date total of $1,942.37 million, 2008 is up 17.2% compared with 2007.

These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.

The May machine tool consumption numbers again demonstrated continued strength and growth in many markets across the country, except in the automotive sector in the upper Midwest,”said Peter Borden, …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

May Machine Tool Consumption Up 17.2% Year-to-Date Read More »

More on Wolseley: Possible Job Cuts

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

UK-based Wolseley will report on its sales and profits this Wednesday, July 16. (Look for coverage on mdm.com that day.) Wolseley owns Stock Building Supply and Ferguson in North America.
 
Apparently, at that time building materials, plumbing and HVAC distributor Wolseley is also planning to announce more job cuts after already laying off thousands this year. According to at least two top British newspapers -the Financial Times and the Telegraph -the company will shed hundreds of jobs.” Of course, it’s not news that Wolseley, along with other distributors with exposure to residential markets in the U.S., is struggling and not yet on the road to recovery.
 
The news on Wolseley comes as the UK and other parts of Europe are reportedly seeing major weakness in their …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

More on Wolseley: Possible Job Cuts Read More »

Ashland Inc. Agrees to Buy Hercules in $3.3B Deal

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

Global chemical company Ashland Inc. has agreed to acquire Hercules Inc., Wilmington, DE, in a deal valued at $3.3 billion. The transaction, which would create a major, global specialty chemicals company, is expected to close by the end of 2008.
 
With sales in more than 100 countries, Ashland is a manufacturer of specialty chemicals, a distributor of chemicals and plastics, and a provider of automotive lubricants, car-care products and quick-lube services.
 
Hercules is a supplier in specialty additives and ingredients that modify the physical properties of water-based systems and is a supplier of specialty chemicals to the pulp and paper industry.
 
Upon the transaction’s close, Ashland will have pro forma combined revenue for the 12 months ended March …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

Ashland Inc. Agrees to Buy Hercules in $3.3B Deal Read More »

Fastenal Sales Grow 16.3% in 2Q

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

The Fastenal Company, Winona, MN, reported sales for second quarter ended June 30, 2008, were $604.2 million, up 16.3% over the prior-year period. Profit was up 26.4%.
 
Sales for the first six months, were $1.17 billion, an increase of 16% from the first six months of 2007.Profit was up 26.2%.
 
During the first six months, Fastenal opened 112 new stores, an increase of 5.2% since Dec. 31, 2007.
 
More details here. …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

Fastenal Sales Grow 16.3% in 2Q Read More »

Illinois Tool Works Buys TRYMER

Companies, Finance, Free, Mergers & Acquisitions, News, Subscriber Only /

Illinois Tool Works Inc., Glenview, IL, has acquired the TRYMER polyisocyanurate (PIR) rigid foam business. The TRYMER plant is based in LaPorte, TX.
 
The agreement also includes a provision for Dow to exclusively supply ITW with extruded polystyrene (XPS) pipe insulation billets for the mechanical insulation market.
 
TRYMER will be a wholly owned business unit of ITW and part of the company’s industrial packaging group. TRYMER will maintain its brand name and operate as a separate business.
 
TRYMER is an ideal strategic fit in our growing global insulation business,” said Larry Keiner, vice president and general manager of ITW Insulation Systems. “The acquisition of TRYMER and the opportunity to supply XPS will broaden our mechanical insulation …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

Illinois Tool Works Buys TRYMER Read More »

Sonepar Subsidiary Essco Buys Mountain Vista Supply

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

Chandler, AZ-based Essco Wholesale Electric, a subsidiary of Sonepar USA, has acquired Mountain Vista Supply, Sierra Vista, AZ.
 
Mountain Vista Supply, an electrical distributor, is a full-line commercial and residential contractor supply house.
 
Essco Wholesale Electric operates 15 locations in Arizona and California. Sonepar USA has over 4,600 associates in 12 companies operating more than 254 branches in 35 states. In 2007, Sonepar USA had $2.9 billion in revenue. It is a member of the French-based Sonepar group, with 1,450 branch locations and 2007 annual sales of $15.3 …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

Sonepar Subsidiary Essco Buys Mountain Vista Supply Read More »

Grainger’s Lab Safety Supply Acquires Highsmith

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

Chicago-based Grainger subsidiary Lab Safety Supply, Inc., has acquired Highsmith Inc., Fort Atkinson, WI. Highsmith is a distributor in the library equipment, furniture and supplies market.
 
We are pleased to be adding Highsmith to our specialty catalog group,” said Larry Loizzo, president of Lab Safety Supply. “They have built a solid brand position in the library and school supplies market over the past 50 years; we intend to build upon it.”
 
The integration of Highsmith into LSS’s operations should be completed over the next six months. The acquisition is expected to add $20-30 million to Lab Safety Supply’s sales in 2008.
 
LSS provides safety and other products to more than 800,000 customers in North America. It reaches them through a variety of …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

Grainger’s Lab Safety Supply Acquires Highsmith Read More »

Dow Chemical Co. Agrees to Buy Rohm and Haas for $18.8B

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

The Dow Chemical Co. has agreed to buy specialty materials and chemicals supplier Rohm and Haas Company, Philadelphia, PA, for $78 per share in cash or $18.8 billion. The agreement provides that Rohm and Haas will continue to do business under the Rohm and Haas name.
 
In addition, Dow will contribute a number of specialty chemicals business segments to the Rohm and Haas portfolio.
 
Rohm and Haas brings to Dow strengths in Coatings and Electronic Materials, according to Dow CEO Andrew N. Liveris. Dow will contribute complementary businesses to Rohm and Haas Company in areas such as coatings, biocides, and personal care products. As a result, annual revenue of Rohm and Haas will be about $13 billion, post-transaction.
 
Based in Philadelphia, PA, Rohm …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

Dow Chemical Co. Agrees to Buy Rohm and Haas for $18.8B Read More »

GE Likely to Spin Off Consumer & Industrial Businesses

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

GE announced it is continuing to explore options for its Consumer &Industrial businesses with a primary focus on spinning-off the entire unit, which includes Appliances, Lighting and Industrial, to existing GE shareholders. The company announced on May 16 that a spin-off was one possible outcome of the strategic review of its Appliances division.
 
As we explored our options for Appliances, it became clear that the fastest, most efficient step we could take in completing the transformation of our Industrial portfolio would be to focus on a possible spin-off of the entire unit,”GE CEO Jeff Immelt said.
 
GE is a diversified technology, media and financial services company with products and services ranging from aircraft engines, power generation, water processing and …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

GE Likely to Spin Off Consumer & Industrial Businesses Read More »

Pressures in the Steel Market

Management, Metals Service Centers, Research & Analytics, Strategy, Subscriber Only, Top Distributor Sectors /

Around the globe, spiking steel prices and tight supply are having an impact on both small and large manufacturers and distributors. The tough market is forcing executives to make tough decisions without driving off customers.
 
Steel continues to be in short supply in the U.S. for the third month in a row, according to the June Manufacturing Report on Business released by the Institute for Supply Management. What’s more, steel prices have gone up each of the last eight months, and have doubled in the last six.
 
And though rumors abound in the industry that prices will stabilize, there is little agreement on when that stabilization will take place or what it will entail.
 
The problem in the U.S. is that steel producers are facing competing …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

Pressures in the Steel Market Read More »

MDM Interview: Challenges, Opportunity in E-Commerce

Sales & Marketing, Subscriber Only, Technology, Top Distributor Sectors /

Recently, industry veteran Bill Snyder, vice president of channel development for Palatine, IL-based manufacturer Square D -Schneider Electric’s North American operating division -sat down with MDM to talk about the development of electronic data standards in electrical channels. Square D has been active in promoting standards in the electrical distribution channel and in pushing standards through its own supply chain to develop greater efficiencies and visibility with its partners.
 
MDM: You and Square D have been strong advocates of e-commerce and creating standards. How did that develop?
 
Bill Snyder: The way that got started was through our own internal efforts to automate our workflows. And then we started extending that to distributors. …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

MDM Interview: Challenges, Opportunity in E-Commerce Read More »

Can This Sales Dog Hunt?

Human Resources in Wholesale Distribution, Operations, Sales & Marketing, Subscriber Only /

This article examines why a can't-fail sales hire sometimes does fail and how to make sure a new hire's past matches your company's structure and needs.

Have you ever been stumped by a bad hire? No, I am not talking about the professional interviewer that wooed the interviewing team or the resume that was fudged. I'm talking about a strong resume where past sales numbers achieved were real and industry sales experience was deep.

Why doesn't a new hire's true success in the past transition to success in a new position? The problem could be that success achieved in their past sales life isn't lining up with factors needed for success in the new position. Below are six areas to examine when determining whether past success can transition into a new sales …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

Can This Sales Dog Hunt? Read More »

Commentary: MDM Welcomes Doug Savage, Thanks David Barth

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

An engaged board of advisors can be a significant differentiator in how well a company performs. With that in mind, we invited MDM’s Board of Advisors to spend two days helping us in our planning process as we continue to expand our coverage of wholesale distribution. MDM is a relatively small company with six employees. Our meeting reinforced for me the need for outside perspective and strategic planning for any size company to grow to its potential.
 
In addition to our board, Brent Grover was a guest at this meeting, offering his unique perspective and insight. In combination with regular surveys and input from all our readers, our board is critical to help us develop editorial focus for the year ahead, as well as offer their deep experience and industry knowledge as we …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

Commentary: MDM Welcomes Doug Savage, Thanks David Barth Read More »

Monthly Wholesale Trade: May 2008

Economic Trends, Research & Analytics, Subscriber Only /

Sales. May 2008 sales of merchant wholesalers, except manufacturers’sales branches and offices, were $397.4 billion, up 1.6% from April and up 13.7% from May 2007, according to the U.S. Census Bureau. May sales of durable goods were down 0.2% from last month, but were up 7.6% from a year ago. Compared to last month, furniture and home furnishings were down 4%, while sales of metals and minerals, except petroleum were up 2.9%. Sales of nondurable goods were up 3.2% from last month and were up 19.2% from last year. Sales of petroleum and petroleum products were up 7.5% from last month.
 
Inventories. Total inventories of merchant wholesalers, except manufacturers’sales branches and offices, after adjustment for seasonal variations but not for price changes, were …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

Monthly Wholesale Trade: May 2008 Read More »

MDM News Digest 3813

Free, Subscriber Only /

Paris-based electrical distributor Rexel completed the sale of parts of Hagemeyer to Sonepar ahead of schedule, completing the deal June 30. Rexel also sold its German business to Sonepar in exchange for all of Sonepar’s activities in Sweden. More
Stuart C. Irby Co., Jackson, MS, a subsidiary of Sonepar USA, has agreed to acquire Equity Utility Service Company, Marietta, GA. The acquisition will expand Irby’s footprint in Georgia.  Equity is a distributor and manufacturers’agent offering products to electric utilities for their transmission and distribution requirements. More

Chandler, AZ-based Essco Wholesale Electric, …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

MDM News Digest 3813 Read More »

Distribution Financial Metrics and Trading Multiples

Subscriber Only /

This table highlights key financial metrics and trading multiples for 30 publicly traded distributors in the industrial and building products industries up to June 30, 2008. Download this data below. Also find graphic illustrating median EBIDTA multiples for the same distribution companies.

 

These materials, prepared by Robert W. Baird &Co. for MDM, are for informational purposes only.

“7/11/2008185This table highlights key financial metrics and trading multiples for 30 publicly traded distributors in the industrial and building products industries up to June 30, …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

Distribution Financial Metrics and Trading Multiples Read More »

MDM July 10, 2008

Subscriber Only /

This is the pdf of this issue of Modern Distribution Management. Apply the full $24.95 pay-per-view cost toward an annual subscription (within 30 days of purchase), which includes two issues a month plus access to more than six years of online archives and market data. Call 1-888-742-5060 or email info@mdm.com to …

To access this page, you must purchase MDM Premium Subscription, MDM Premium Subscription – Monthly or MDM Premium Subscription – Annually.

MDM July 10, 2008 Read More »

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!