January 14, 2009

ERIKS Group Sales Up 19.3% For 2008

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

Dutch holding company the ERIKS group reported sales of €1.132 billion (US$1.48 billion at the current exchange rate), an increase of 19.3% over sales for 2007. The total sales meets the expectations announced by the group in November.

Organic growth contributed €42 million (US$54.9 million) to growth in 2008; acquisitions in 2007 and 2008 added €208 million (US$272 million).

Industrial activity further decreased in the fourth quarter of 2008, with many customers reducing their production capacity. This resulted in organic growth of -1.4% for the fourth quarter of 2008.

Sales in the ‘semicon,’ automotive, steel, and suppliers to construction industry were negatively impacted by the economic crisis. However, sales …

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Wholesale Prices Fall 1.9% in December

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

Wholesale prices fell 1.9 percent in December, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported. This decrease followed a 2.2-percent decline in November and a 2.8-percent drop in October.

At the earlier stages of processing, prices received by producers of intermediate goods fell 4.2 percent in December after decreasing 4.3 percent in the prior month, and the crude goods index declined 5.3 percent following a 12.5-percent drop in November. The slower rate of decrease in finished goods prices was led by the index for energy goods, which fell 9.3 percent in December after declining 11.2 percent in November.

Prices for finished goods other than foods and energy (core inflation) rose 0.2 percent in December compared …

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November PT/MC Sales Fall 16%

Economic Trends, Free, News, Power Transmission/Motion Control/Fluid Power, Research & Analytics, Subscriber Only, Top Distributor Sectors / MDM Staff

In November 2008, U.S. distributors’ sales of power transmission/motion control products experienced the largest month-to-month decrease in sales since January 2002, falling 16% when compared to October 2008, according to the latest month-end trend data from the Power Transmission Distributors Association.

When matched up against sales in the same month last year, sales in November 2008 were down by 4.1%. Accounts receivable collection days rose 7.8% since October 2008. The confidence index of U.S. distributors for November was also unchanged for the third consecutive month, remaining at 5.2 (on a 10-point scale).

Canadian distributors reported a 12.8% drop in sales in November 2008. Sales over the same period last year were down 11.2%. Accounts receivable …

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MeadWestvaco Announces Elimination of 2,000 Positions

Free, News, Operations, Paper Products & Packaging Distribution, Subscriber Only, Top Distributor Sectors / MDM Staff

MeadWestvaco Corp., Richmond, VA, will be taking broad actions to address current economic challenges, including eliminating 2,000 positions – about 10% of its workforce – by the end of the year. The manufacturer of packaging products also will close or restructure 12 to 14 manufacturing locations and reducing overhead expenses.

We have been taking aggressive steps over the past several months to help ensure we perform in today’s uncertain environment, and are poised to take advantage of the stronger, more stable periods that are sure to come, said John A. Luke, Jr., CEO.

MWV will generate overhead savings through corporate and business staff reductions worldwide, lower discretionary spending, and a decrease in …

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Canadian Nonresidential Construction Spending Up in 3Q

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

Source: Statistics Canada

Investment in non-residential construction reached $11 billion in current dollars in the fourth quarter of 2008, up 1.7% from the third quarter. In 2002 constant dollars, however, investment was down 1.2% from the third quarter.

The increase in current dollars was mainly the result of rises in institutional and commercial building construction. Investors spent $6.8 billion on commercial projects, up 1.5% from the third quarter, while in the institutional component, investment rose 3.7% to $2.8 billion. Spending in the industrial component declined 1% to $1.4 billion.

All provinces and two territories recorded advances in the fourth …

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Gates To Close Salt Lake City DC

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

Gates Corp., Denver, CO, will close its Salt Lake City, UT, distribution center in the summer of 2009. The center currently services automotive aftermarket customers, and employs 42 associates.

Improvements in transportation and inventory management prompted the move to consolidate the distribution center into one more centrally located and closer to the manufacturing base, according to Scott Burr, president of North American distribution and demand management.

Gates Corp. manufactures industrial and automotive products, systems and component with operations in 25 …

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January 14, 2009

ERIKS Group Sales Up 19.3% For 2008

Wholesale Prices Fall 1.9% in December

November PT/MC Sales Fall 16%

MeadWestvaco Announces Elimination of 2,000 Positions

Canadian Nonresidential Construction Spending Up in 3Q

Gates To Close Salt Lake City DC

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