Atlanta, GA-based
For the full year ended Jan. 3, the distributor’s net loss was $31.7 million, compared with a net loss of $27.9 million last year. Sales for the year were $2.9 billion, down 27.5% from a year ago.
"The housing and building products markets continued to be challenging during the quarter as a result of the historic slump in the housing industry," said
BlueLinx Reports Net Loss for 2008 Read More »
Watsco Inc., Coconut Grove, FL, distributor of air conditioning, heating and refrigeration products, reported sales for the year ended Dec. 31, 2008, were $1.7 billion, a 3% decrease from last year.
On a same-store basis, sales were down 10%, reflecting a 10% decline in sales of HVAC equipment (44% of sales), an 11% decline in sales in other HVAC products (43% of sales) and a 5% decline in sales of commercial refrigeration products (13% of sales).
Sales results also reflect an improving revenue mix of high-efficiency and environmentally-sensitive air conditioning and heating systems. From an end-market point of view, results include flat sales to the residential replacement market, a single-digit decline in the commercial market and a sharp decrease in sales to …
Watsco Sales Down in 2008 Read More »
Genuine Parts Company, Atlanta, GA, reported sales for 2008 were $11 billion, up 2% from 2007. Profit for the year was $475.4 million, a decrease of 6%.
By segment:
Motion Industries, the Industrial Group, saw a 5% increase for the year. EIS, the Electrical/Electronics Group, reported a 7% increase. The Automotive Group had a slight sales increase in 2008, and S.P. Richards, the Office Products Group, had a sales decrease of 2%.
In the fourth quarter, sales decreased 4% to
The company reported a weakening in demand across all its business segments in the fourth quarter.
Genuine Parts Company is …
Genuine Parts Company Sales Up 2% in 2008 Read More »
Deal activity in the global industrial manufacturing industry declined significantly in 2008, according to the PricewaterhouseCoopers LLP report Assembling Value: Fourth-quarter 2008 Mergers and Acquisitions Analysis. Compared with 2007 M&A levels, overall deal volume decreased 32% and deal value fell 57% in 2008.
The pace of M&A activity during 2008 (141 deals), as measured by the number of deals with a disclosed value of at least $50 million, fell behind levels set in 2006 (169 deals) and 2007 (206 deals). Similarly, the number of deals announced during the fourth quarter of 2008 (11) is well behind the number of transactions announced during the fourth quarter of 2007 (71).
Total deal value reached $39 billion in 2008, less than half of the …
Industrial Manufacturing M&A Activity Falls Significantly in 2008 Read More »
Birmingham, AL-based Motion Industries, a subsidiary of Genuine Parts Co., has acquired Monroe Rubber & Plastic Supply, based near Detroit, MI, in Monroe, MI. Monroe is a distributor of hosing and related accessories, and specializes in hydraulic, industrial, metal hose and Teflon hose assemblies.
With the acquisition, Motion now has nine facilities focused on cutting and coupling hose assemblies.
Monroe President Joe Lark will continue providing leadership for the Monroe operation.
In a recent interview with MDM, Motion Industries President Bill Stevens addressed the distributor’s acquisition and growth strategy:
"We certainly are committed first and foremost and always to being …
Motion Industries Acquires Monroe Rubber & Plastic Supply Read More »
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