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2008

Replacement Market a Boon for HVAC Distributor Watsco

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

As the housing market continues to slump and new installations of central air systems with it, Watsco Inc., Coconut Grove, FL, continues to increase profits by building upon the growing replacement market.
 
Senior Vice President Barry Logan told attendees at the Piper Jaffray Industrial Growth Conference on June 11 that environmental mandates and aging systems have driven the replacement market to 75 percent of the business Watsco is doing today.
 
The mandate signed into law in 2001 required that all new air conditioning and heat pump units improve efficiency by 30 percent by 2006. In addition, use of refrigerants that deplete the ozone was to be phased out entirely by 2010.
 
Though new products don’t need to be in place before 2010, Watsco already …

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Distributors Respond to Flooding in the Midwest

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Flooding in the Midwest is keeping distributors there busy helping customers recover from the extensive damage the waters brought.
 
One of the hardest hit was Cedar Rapids, Iowa’s second-largest city. The AP reported that about 1,300 city blocks flooded and 24,000 people fled their homes.
 
In Eastern Iowa, where Cedar Rapids is located, distributors worked long hours to help customers minimize potential damage before and during the flooding.
 
In one case, a Ferguson employee made a late-night run in heavy rain to the HVAC/plumbing distributor’s Waterloo, IA, distribution center -50 miles each way -to get mechanical plugs for contractors working to prevent floodwaters from seeping into the local hospital.
 
The distributor worked with …

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MDM News Digest 3812

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Plumbing &HVAC distributor Ferguson, Newport News, VA, has opened a new clearance center in Pomona, CA. The 7,600-square-foot retail space, in an existing warehouse, offers excess inventory and discontinued material from Ferguson warehouses and showrooms in the Southern California area. Ferguson is a Wolseley plc company, a UK-based distributor of plumbing, HVAC and building materials. More
 
Chicago-based Grainger, facilities maintenance distributor, will open four new facilities, relocate one other, and expand and enhance three existing facilities throughout the U.S. Gulf region. The move is part of the company’s market expansion initiative.

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U.S. Market Analysis: Industrial Paints MRO

Economic Trends, Finance, Market Analysis, Research & Analytics, Subscriber Only /

The industrial product group listed here – Industrial Paints MRO – represented a market in 2007 of $4.3 billion, according to estimates by Industrial Market Information, Minneapolis. 
 
These charts show the top ten industries, by SIC code, consuming these products; and the 2007 end-user consumption of these groups sorted by the nine government market …

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MDM June 25, 2008

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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 …

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As Oil Skyrockets, Green Grows More Affordable

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

Green may finally be bringing in the green.
 
Businesses focusing on green products and production are starting to reach broader audiences as prices of traditional products keep going up due to their reliance on fossil-fuel related materials and energy, according to a recent article in The Wall Street Journal. (Click here for full article. Subscription required.)
 
The fact that many of the companies focusing on environmentally friendly products also focus on environmentally friendly production has helped maintain prices that aren’t driven by volatile energy prices. New Leaf Paper LLC, San Francisco, CA, works with mills to develop more …

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Potential Settlement in Next Month in Grainger Lawsuit

Companies, Facilities Maintenance (MRO), Free, Legal Issues in Wholesale Distribution, Operations, Subscriber Only, Top Distributor Sectors /

We could be seeing a settlement in the next month between the U.S. government and Chicago, IL-based facilities maintenance distributor Grainger, who was accused in the whistleblower case of overcharging the government and illegally relabeling products manufactured in non-trade agreement countries so they could be sold to the U.S. government.
 
According to recent court documents, the U.S. and Grainger have been in settlement discussions; a proposed agreement is prepared to be authorized by government officials. In the documents, filed May 28, 2008, attorneys ask for 60 days to finalize the terms of the proposed settlement and finalize an amended complaint. The court approved.

Here’s MDM’s original report …

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Industrial Production Falls 0.2% in May

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Industrial production declined 0.2% in May after having fallen 0.7% in April.
 
Manufacturing output was unchanged in May, the output of utilities shrank 1.8%, and the output at mines rose 0.1%. Factory output was boosted by a small pickup in the index for motor vehicles and parts.
 
The end in late May of the strike at a parts producer had little effect on vehicle output for the month; the output of motor vehicles and parts remained about 10% below its February level. Excluding motor vehicles and parts, manufacturing production edged down 0.1% after having decreased 0.5% in April.
 
At 110.9% of its 2002 average, overall industrial production was 0.1% below its year-earlier level. The rate of capacity utilization for total industry declined 0.2 …

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Rumors of Wolseley

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Here’s our take based on MDM’s knowledge of the distribution world on the rumors flying around the Web about UK-based Wolseley plc, global building materials/plumbing/HVAC distributor and parent company to Stock Building Supply and Ferguson in the U.S.
 
According to some reports, Wolseley is at risk of breaching its bank covenants” -here’s an article from the Telegraph. The company is significantly exposed to the U.S. residential markets and up until this year has been an aggressive strategic acquirer. To improve its financial situation, the company has been aggressively cutting costs in its U.S.-based businesses, closing branches and reducing staff. In its last …

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Foodservice Supplier Buys Distributor

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

Orval Kent Food Company Inc., Wheeling, IL, a portfolio company of Questor Management Company, has acquired Fresh Creative Foods LLC, San Diego, CA.
  
Fresh Creative Foods is a processor and distributor of ready-to-eat refrigerated gourmet meals and side dishes. The company specializes in chicken dishes and its proprietary product line includes salads, dips, spreads and entrees.
 
Orval Kent Food Co. manufactures and sells a wide variety of fresh, refrigerated foods such as deli-style salads, component kit salads, mashed potatoes and side dishes, fresh-cut fruit, dips and salad dressing. Orval Kent operates manufacturing and distribution centers in California, Illinois, Kansas, Ohio, Texas and …

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Watsco Launches ACDoctor.com

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

Watsco, Inc., Coconut Grove, FL, has launched ACDoctor.com, a consumer Web site that offers educational tools to help homeowners identify energy efficient cooling systems to help save money and reduce negative impacts of global warming.
 
According to Watsco, the heating and cooling of homes accounts for nearly 56% of residential energy use in the U.S., or $66.5 billion per year.
 
ACDoctor.com features energy saving calculators and tips on keeping energy bills low, energy efficiency high and improving the quality of indoor air. Users can compare HVAC systems, connect with contractors and locate financial incentives.
 
Watsco is an independent distributor of air conditioning, heating and refrigeration equipment and related parts and supplies in the HVAC …

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Graybar Opens New DC in Gulfport, MS

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

St.Louis, MO-based Graybar, a distributor of electrical and communications products, has opened a 12,000-square-foot distribution facility in Gulfport, MS.
 
The branch holds $1.5 million in inventory. With the addition of the Gulfport facility, the company now has 64 locations throughout the Southeast. …

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Survey: Manufacturers Optimistic About Expansion in North America

Economic Trends, Finance, Free, Mergers & Acquisitions, News, Research & Analytics, Subscriber Only /

A new survey by Deloitte says that North America is the most desirable region for expansion” over the next three years. The survey targeted top-tier executives of manufacturing companies with North American operations.
 
Deloitte, Deloitte Canada and Deloitte Mexico, with the cooperation of the National Association of Manufacturers (NAM), The Manufacturing Institute and Canadian Manufacturers &Exporters (CME), surveyed 321 executives of North American manufacturers across product sectors. The majority of companies represented in the survey (45%) are based in the U.S.
 
In terms of plans for expansion, the survey found that sales and services topped the list with 76% planning to expand sales in the U.S., 58% in Canada and 67% in Mexico. Sourcing of raw materials and …

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Distributors Reach Out in Flood Zones

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Many families are returning home to chaos in places like Cedar Rapids where more than a thousand city blocks were flooded. Distributors -national, regional and local -are stepping up, providing customers with service and inventory when and where it is needed to speed recovery.
 
Crescent Electric Supply Company, East Dubuque, IL, is offering a matching relief fund of up to $85,000. The company sent me an announcement today saying that anyone wishing to have Crescent match their donation to help victims of tornadoes and floods in Iowa, Wisconsin and Indiana should send a check made out to either The United Way Tornado and Flood Relief Response or The American Red Cross Central U.S. Tornado and Flood Relief Response to John Miller at Crescent Electric Supply, 7750 …

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Hisco Acquires B&L Technologies Distribution Division

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

Hisco, Houston, TX, has acquired the distribution division of B&L Technologies, a Victor, NY-based capital equipment and materials supplier to the electronics assembly industry. This expansion strengthens Hisco’s operations in upstate New York and adds a 6,000-square-foot-facility to Hisco’s network.
 
The new location will operate as a satellite division of Hisco’s New Jersey branch.
 
Hisco President Bob Dill said there is a strong synergy between the two companies. The parallels between our customer base, core product offering, and value proposition made this a natural fit,”Dill said.
 
Bob Bernatovich, president of B&L said that the company will continue to offer its existing line of capital equipment.
 
Hisco is an employee-owned specialty …

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ProBuild Taps New COO

Building Materials/Construction, Companies, Free, Management, News, Strategy, Subscriber Only, Top Distributor Sectors /

ProBuild Holdings Inc., Denver, CO, has appointed Bill Myrick as chief operating officer.
 
Myrick joined ProBuild in February 2007. Before his appointment as CEO, Myrick served as president of the company’s Strategic Initiatives group and had responsibility for supply chain, manufacturing, gypsum and market development.
 
ProBuild supplies building materials to professional contractors through more than 550 lumber and building product distribution, manufacturing and assembly centers, serving 42 …

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Now Not the Time to Shy Away from Price Increases

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A recent survey by McKinsey Quarterly (found here) says that nearly half of all respondents don’t expect their companies to raise prices over the next six months. The manufacturing sector was the one exception. 

On the manufacturing side, nearly 90% have seen an increase in the cost of inputs. And only in the manufacturing sector, McKinsey says, did a majority of respondents say their companies had raised prices and will continue to do so in the next six months.

My takeaway: Now is not the time to shy away from price increases. Suppliers are eager to pass on their rising …

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Retailer Goes Wholesale with Proposed Purchase of Corporate Express

Finance, Free, Management, Mergers & Acquisitions, Operations, Paper Products & Packaging Distribution, Strategy, Subscriber Only, Top Distributor Sectors /

After four months and four bids, retailer Staples Inc., Framingham, MA, finally found the formula for reeling in Corporate Express NV. The offer to purchase the international office supplies distributor received the recommendation for approval from Corporate Express’s supervisory and executive boards on June 11.
 
The move represents a significant shift in business focus for Staples that until now has centered on the retail market. After this acquisition, 60% of its business will be in the delivery and contract markets.
 
It’s a great strategic fit that continues to build the delivery side of our business,”Paul Capelli, Staples vice president for public relations, tells MDM. In North America, delivery has been the fastest growing and most profitable segment for …

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Industrial Distribution Group Stockholders Approve Acquisition

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

The stockholders of Industrial Distribution Group, Inc., Atlanta, GA, distributor of maintenance, repair, operating and production (MROP) products and integrated supply services, have voted to approve the merger in which the company will be acquired by an affiliate of Luther King Capital Management.
 
The closing of the deal is expected to occur in mid-July 2008.
 
We are pleased to have completed this essential step for the merger with LKCM. We will be working closely with LKCM and its personnel to achieve an expeditious closing and smooth transition,” said President and CEO Charles Lingenfelter.
 
“We are delighted that IDG’s other shareholders saw the value in this transaction, just as we are excited about our acquisition of IDG,” said J. Bryan King, …

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Housing Starts Fall 3.3% From April

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

Privately-owned housing starts in May were at a seasonally adjusted annual rate of 975,000, 3.3% below April and 32.1% below May 2007, according to the U.S. Census Bureau and the Department of Housing and Urban Development.
 
Single-family housing starts in May were at a rate of 674,000; this is 1% below April. The May rate for units in buildings with five units or more was 280,000.

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