2008

Rexnord Core Sales Growth at 11% in 3Q

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

Rexnord LLC, diversified producer of power transmission and water management products, reported sales for the third quarter were $449.1 million, an increase of 58.6% over the prior-year quarter. Consolidated core sales growth was 10.9%.

Power transmission sales were $334 million; core sales growth was 11.1%. Water management sales were $115.1 million; core sales growth was 10.2%.

For the first nine months of fiscal 2008, Rexnord had 9.5% core sales growth, with sales of $1.3 billion. PT sales in the first nine months were $969.7 million, an increase of 11.5%, driven by strength in power transmission end markets of mining, energy, aggregates and aerospace.

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ProBuild Finalizes Purchase of HD Supply Lumber Assets

Building Materials/Construction, Companies, Finance, Free, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors / MDM Staff

ProBuild Holdings, Denver, CO, supplier of building materials to professional contractors, has finalized its purchase of substantially all of the assets of Atlanta, GA-based HD Supply Lumber and Building Materials.

ProBuild is pursuing a strategy of aggressive growth, both organic and via acquisition,”said ProBuild CEO Paul W. Hylbert. “The addition of HD Supply Lumber and Building Materials’yards and truss plants strengthen our position in very important long-term, high-growth housing markets in the Southeast.”

HD Supply Lumber and Building Materials operates 39 lumberyards in Georgia and Florida, seven truss plants, a construction services division and 10 engineered lumber production facilities. Although operating under the HD Supply portfolio of businesses, …

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Donaldson Company Buys LMC West

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

Donaldson Company, Inc., Minneapolis, MN, has acquired LMC West, a manufacturer of industrial dust collection and filtration systems.

LMC West, Riverbank, CA, designs and manufactures dust collectors and industrial filtration systems for woodworking, agricultural and industrial applications. LMC West had annual sales of $10 million in 2007.

The acquisition of LMC West complements our existing Donaldson Torit dust collection products well,” said Tod Carpenter, Vice President, Global Industrial Filtration Solutions.

Donaldson has more than 100 sales, manufacturing, and distribution …

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Emerson Sales Up 12% in 1Q

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

St. Louis-based Emerson reported sales for the first quarter ended Dec. 31, 2007, were $5.6 billion, an increase of 12% over the same period last year. This sales increase included 7% growth in underlying sales and a 5% favorable impact from foreign currency translation.

Organic sales growth in the U.S. was 5% and underlying international sales increased 9%, including 16% growth in Asia.

Process Management sales grew 18% for the quarter. This included 12% underlying sales growth, a favorable impact of 5% from currency translation and 1% from acquisitions, net of divestitures. Sales were strong globally, driven primarily by increased energy sector demand and increased market penetration.

Industrial Automation sales grew 13% for the quarter. …

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Manufacturing Expands in January

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

Economic activity in the manufacturing sector expanded in January, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.

The report was issued by the Institute for Supply Management Manufacturing Business Survey Committee.

The PMI rose 2.3 percentage points, signaling stronger performance in January when compared to the seasonally adjusted 48.4 percent recorded in December. This represents a return to the recent trend of slow growth in manufacturing, as the PMI has averaged 50.2 percent for the past six months.

The PMI was driven by the Production Index, which made a rebound of 6.6 percentage points during the month, while the New Orders Index reflected a slight decline at 49.5 percent. …

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2007 Construction Spending Down 2.6%

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

Construction spending during December 2007 was estimated at a seasonally adjusted annual rate of $1,140.2 billion, 1.1 percent below the revised November estimate. The December figure is 2.3 percent below December 2006.

The value of construction spending in 2007 was $1,161.3 billion, 2.6 percent below the $1,192.2 billion spent in 2006.

More details here. …

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Grainger Adds 44,000 Items to 2008 Catalog

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

Chicago, IL-based Grainger, distributor of facilities maintenance supplies, has released its 2008 catalog featuring more than 183,000 facilities maintenance products, 44,000 more items than last year.

The distributor added more than 4,000 power transmission products including bearings, couplings, linear motion products and belts; 9,000 raw materials products such as metal, plastic, rubber and felt; 4,200 fleet maintenance products such as lift equipment, battery chargers and accessories; and 30,000 more products spread across product categories including plumbing, electrical, tools and material handling.

In addition, the company launched a private label, Tough Guy, a professional cleaning supplies brand. The product category includes products such as degreasers, …

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Airgas Buys Merriam-Graves

Companies, Finance, Free, Gases & Welding Equipment, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Airgas, Inc., Radnor, PA, has acquired Merriam-Graves Corp., an independent distributor of industrial, medical, and specialty gases and related supplies operating in 25 locations in New England and New York.

The acquired business generated $47 million in revenues in 2007.

Merriam-Graves was integrated into Airgas East, one of the regional companies within Airgas. The acquired operations include a headquarters, industrial fill plant, specialty gas laboratory, and central hardgoods warehouse in Charlestown, NH, plus six other locations in New Hampshire, six locations in Vermont, five locations in Massachusetts, five locations in Connecticut, and two in New York.

Airgas East, Salem, NH, includes 86 retail branches, 40 cylinder fill plants, and 11 ISO …

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WESCO Sales Up 13% in 2007

Building Materials/Construction, Companies, Electrical, Facilities Maintenance (MRO), Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

WESCO International, Inc., Pittsburgh, PA, provider of electrical MRO products, construction materials, and integrated supply services, reported sales for the full year 2007 were up 13% to $6 billion, compared with $5.3 billion in 2006. Profit was $241 million.

In the fourth quarter, sales were $1.48 billion, up from $1.37 billion in the 2006 period, an increase of 8%. Organic growth was 2.8%.

Profit for the quarter was $61 million, up from $58 million in the year-ago …

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DXP Enterprises Acquires Rocky Mtn. Supply

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

DXP Enterprises, Inc. has acquired Rocky Mtn. Supply, Inc., a distributor of bearings, power transmission, belting, industrial and hydraulic hose, and industrial supplies. The business is headquartered in Greeley, CO, and operates out of six locations in Colorado serving the Rocky Mountain States.

DXP paid $4.6 million.

The unaudited sales and estimated EBITDA for the acquired business for the 12 months ending Dec. 31, 2007, were $13.6 million and $1.4 million, respectively. …

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HD Supply: Watsco Deal Falls Through

Building Materials/Construction, Companies, Finance, Free, HVACR, Mergers & Acquisitions, News, Plumbing Products & PVF Distribution, Subscriber Only, Top Distributor Sectors / MDM Staff

HD Supply, Orlando, FL, will not move forward with its deal to sell its HVAC business to Watsco, Coconut Grove, FL, HD Supply spokeswoman Erica Crosling confirmed to MDM.

The potential sales of the HVAC business to Watsco was always dependent up on a transaction that was beneficial for our customers and associates, and maximized value for the company,” Crosling said. “After carefully weighing the options and taking these concerns into consideration, we have decided to retain and grow our HVAC business.”

Watsco had signed a letter of intent to buy the HD Supply branches that sell Rheem.

HD Supply’s deal with Pro-Build Holdings to buy its lumber and building materials division will go forward. …

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Recession?

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

Based on news reports on TV and in the paper, you’d think we were already in a recession. The reality is, we’re not. You can’t be in a recession when the economy is growing,” Institute for Trend Research economist Alan Beaulieu told attendees at this week’s National Association of Wholesaler-Distributors annual meeting in Washington D.C.

He expects the economy to grow at a “tepid pace” in 2008, but that it will indeed grow. The housing slump and credit turmoil have not yet been enough to tip the economy backwards, he says.

As Beaulieu has told many an association meeting, he believes recession is coming -but not until 2009 and 2010. So, instead of reacting to reports that a recession is upon us, he suggests getting proactive and preparing. Think back to the last …

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GDP Growth in 4Q 2007 Slows to 0.6%

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

News on Wednesday that the Fed would again cut rates, this time 0.5 percentage points to 3.0%, was preceded by news that the gross domestic product growth was slower than expected in the fourth quarter 2007, at 0.6%. The number is based on advance estimates and will be updated Feb. 28, 2008, using more complete data.

Real gross domestic product is the output of goods and services produced by labor and property
located in the U.S. In the third quarter, real GDP increased 4.9%.

The increase in real GDP in the fourth quarter primarily reflected positive contributions from personal consumption expenditures (PCE), nonresidential structures, state and local government spending, exports, and equipment and software that were largely offset by negative contributions …

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Anixter Sales at $5.85B in 2007

Companies, Electrical, Free, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Anixter International Inc., Glenview, IL, distributor of communication products, electrical and electronic wire &cable and a distributor of fasteners and other small parts, reported fourth-quarter sales of $1.49 billion, up 15% including acquisitions. Profit was $70.5 million.

Annual sales for the period ended Dec. 28, 2007, were $5.85 billion, up 13% on an organic basis. Profit was $253.5 million.

North American sales grew by 13% in the fourth quarter -excluding foreign exchange effects, sales grew at an organic rate of 11%. In Europe, organic growth was flat -overall sales grew 16% due to acquisitions and exchange rate …

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New Orders for Durable Goods Up 5.2% in December

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

New orders for manufactured durable goods in December increased $11.2 billion or 5.2 percent to $226.6 billion, according to the U.S. Census Bureau. This was the second consecutive monthly increase and followed a 0.5 percent November increase.

Excluding transportation, new orders increased 2.6 percent. Excluding defense, new orders increased 2.9 percent.

Full Release

Shipments
Shipments of manufactured durable goods in December, down four of the last five months, decreased $0.1 billion or 0.1 percent to $212.6 billion. This followed a 0.2 percent November decrease.

Unfilled Orders
Unfilled orders for manufactured durable goods in December, up thirty-one of the last …

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Airgas Reports Sales of $1B in 3Q

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

Airgas, Inc., distributor of industrial, medical, and specialty gases, and welding, safety, and related products, reported sales of $1 billion in the third quarter ended Dec. 31, 2007, an increase of 28% from the prior-year period. Profit for the quarter was $56.8 million, compared with $32.5 million in the prior year.

Acquisitions contributed 21% to sales growth. Total same-store sales increased 7%, with hardgoods up 6% and gas and rent up 8%. The company’s strategic product categories, including bulk, medical and specialty gases, safety products, and carbon dioxide, posted 11% organic growth in the quarter. These product categories now account for 40% of total company revenues.

This was our second quarter with more than $1 billion in sales, demonstrating the …

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3M Sales Up 7% to $24.5B in 2007

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

3M, St. Paul, MN, reported 2007 sales of $24.5 billion, up 7% from a year ago. Profit was $4.1 billion, up 6%.

Sales for the full year were driven by a 7.3% increase in local-currency sales, including acquisitions. Growth was led by Health Care and Safety, Security and Protection Services. Sales in the international operations grew 10% and now constitute 63% of the company’s total.

The company announced fourth-quarter sales of $6.2 billion, an increase of 7%. Profit for the quarter was $851 …

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SYSCO Sales Up 7.8% in 2Q

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

Food product distributor SYSCO Corp., Houston, TX, reported sales for the second quarter 2008 ended Dec. 29, 2007, were up 7.8% to $9.24 billion. Profit was up 7.1% to $264.1 million from the prior-year period.

Food cost inflation, as estimated by the change in SYSCO’s cost of goods, was 5.9% for the quarter.

In the first half, sales increased 8.1% to $18.65 billion, and profit grew 11.4% to $531.1 million. Food cost inflation, as estimated by the change in SYSCO’s cost of goods, was 5.9% for the first half of fiscal 2008.

For the fiscal year 2007 ended June 30, 2007, the company had more than $35 billion in …

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Gexpro to Buy Beacon Electric

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

Gexpro has agreed to acquire Beacon Electric Supply, San Diego, CA. The acquisition is Gexpro’s first since Rexel bought the company. Gexpro was GE Supply.

Beacon Electric has sales of more than $50 million. The company has branches in San Diego and San Marcos.

Beacon will continue to operate under the Beacon Electric Supply name.

Gexpro has more than 170 locations in the U.S. and …

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Carlisle Companies Buys Foodservice Supplier

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

Diversified global manufacturer Carlisle Companies Inc., Charlotte, NC, has acquired Dinex International, Inc., a supplier of foodservice products to the healthcare and other institutional industries. With annual sales of $85 million, Dinex supplies traytop smallwares, dishware, disposable lids and packaging as well as heating and meal delivery systems.

The company has facilities in Glastonbury, Connecticut and Batavia, IL. The business will operate within Carlisle FoodService Products.

Dinex distributes its products through foodservice distributors serving the healthcare sector, including hospitals, nursing homes and other care and assisted living facilities.

This acquisition complements Carlisle’s core foodservice product categories and …

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Rexnord Core Sales Growth at 11% in 3Q

ProBuild Finalizes Purchase of HD Supply Lumber Assets

Donaldson Company Buys LMC West

Emerson Sales Up 12% in 1Q

Manufacturing Expands in January

2007 Construction Spending Down 2.6%

Grainger Adds 44,000 Items to 2008 Catalog

Airgas Buys Merriam-Graves

WESCO Sales Up 13% in 2007

DXP Enterprises Acquires Rocky Mtn. Supply

HD Supply: Watsco Deal Falls Through

Recession?

GDP Growth in 4Q 2007 Slows to 0.6%

Anixter Sales at $5.85B in 2007

New Orders for Durable Goods Up 5.2% in December

Airgas Reports Sales of $1B in 3Q

3M Sales Up 7% to $24.5B in 2007

SYSCO Sales Up 7.8% in 2Q

Gexpro to Buy Beacon Electric

Carlisle Companies Buys Foodservice Supplier

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