Piping distributor ISCO Industries, Louisville, KY, has acquired Wright Water & Waste, Solon, OH, according to the Courier-Journal in Louisville.
The founder of Wright Water & Waste will become ISCO’s national director of …
ISCO Buys Wright Water & Waste Read More »
MSC Industrial Direct Co. Inc., distributor of metalworking and MRO supplies to industrial customers, reported sales for its fiscal 2009 first quarter were $433 million, down 1% from $437.6 million in the prior-year quarter.
Profit for the quarter was $45.1 million, down from $46.9 million in the year-ago period.
David Sandler, president and CEO, said that market conditions continued to deteriorate during the quarter. “Having managed through market cycles in the past, MSC moved quickly to control spending and maximize profitability despite the effects of overall market conditions on our sales levels,” he said.
Sandler also reported that customer feedback indicates that conditions have continued to deteriorate, with many …
MSC Industrial Sales Down 1% in 1Q Read More »
We’ve heard before that the recession started earlier than anybody had thought. Manufacturers Alliance/MAPI released the following today:
A Manufacturers Alliance/MAPI report argues that the current U.S. economic recession began as early as January 2008 rather than in the widely presumed latter stages of 2008.
In The 2008-2009 Recession Began One Year Ago,Chief Economist Daniel J. Meckstroth provided four data points to support MAPI’s contention that the recession started in January 2008 and that abrupt deterioration from the credit crunch in September 2008 merely dealt a final body blow” to economic …
New Report Analyzes Past Year’s Recessionary Performance Read More »
Electrical supply marketing groups Equity/EDN Marketing Group, Concord, OH, and IMARK Group have joined as of Jan. 1, 2009.
The combination of IMARK / Equity/EDN creates an organization with an 18% market share in the electrical supply industry, according to a press release, with combined revenues approaching $15 billion. The groups say that greater economies of scale will provide members with lowered operating costs, improved member returns, and added economic value for new and existing IMARK/Equity/EDN Members.
According to its Web site, IMARK is a member-owned marketing group with 176 independent electrical distributors in the U.S., including more than 70 distributors that rank in the top 200 in the country. IMARK distributors have more than …
IMARK Group and Equity/EDN Merge Read More »
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