April 26, 2009

Timken Company 1Q Sales Fall 33%

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

The Timken Company, Canton, OH, reported sales of $960.4 million for first quarter of 2009, a decrease of 33% over the same period a year ago. First-quarter profit was $0.9 million, compares with profit of $84.5 million for first quarter 2008.

It’s now clear that the impact of the recession on the demand for our products will be deeper and longer lasting than we anticipated. In the short term, we are managing the company with a heightened emphasis on cash flow, said James W. Griffith, president and CEO. “At the same time, we are taking actions to structure the company for profitability, even at current levels of demand, including efforts to strengthen our portfolio while improving the competitiveness of our manufacturing base.” …

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BlueLinx Agrees To End Supply Agreement With Georgia-Pacific

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

BlueLinx Holdings Inc., Atlanta, GA, a distributor of building products in North America, has agreed to terminate the Master Purchase, Supply and Distribution Agreement between BlueLinx Corp. and Georgia-Pacific LLC, effective April 27, 2009. Georgia-Pacific previously announced its intention to end the agreement in May 2010.

In exchange for BlueLinx’s agreement to cancel the agreement earlier, Georgia-Pacific will pay $18.8 million.

BlueLinx will continue to distribute Georgia-Pacific building products, but the early termination of the agreement also provides BlueLinx the opportunity to pursue strategic relationships with other suppliers and customers previously prohibited. …

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IDEA, Affiliiated Distributors Start Pilot Program

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

IDEA, an electrical industry owned eCommerce service provider, and Affiliated Distributors, a wholesale buying and marketing group, announced plans to begin a pilot program under which IDEA will assist A-D members with recommendations on improving their synchronization processes.

IDEA had been working with four A-D members over a 60-day period to help both organizations define the scope of the program – which is exclusive to A-D for the 2009 calendar year. IDEA will introduce the program industry-wide after an A-D pilot program is completed.

"A-D is very pleased to join forces with a partner who is committed to synchronization within the electrical channel. Leadership from both organizations understands that in a globally competitive economy, …

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Chicago Fed Midwest Manufacturing Index Falls 2.4% In March

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

The Chicago Fed Midwest Manufacturing Index fell 2.4% in March, to a seasonally adjusted level of 82.0 (2002 = 100). Revised data show the index decreased 0.4% in February, to 84.0.

The Federal Reserve Board’s industrial production index for manufacturing fell 1.7% in March. Regional output in March was down 23.2% from a year earlier – lower than the 14.9% decrease in national output.

The region’s steel sector output dropped 5.5% in March after falling 4.3% in February. The nation’s steel output was down 3.8% in March. Regional steel output dropped 34.1% from its March 2008 level, and national steel output fell 24.2%.

The Midwest’s machinery sector output also declined 5.5% in March after moving down 4.9% in February. …

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Atlas Copco Organic Sales Fall 17% In 1Q

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

Swedish manufacturer Atlas Copco reported sales of MSEK 16,577 (US$2 billion) for the first quarter of 2009, down 3% from the prior year term. Organic sales were down 17%. Profit fell 42% to MSEK 1,378.

Since October 2008, headcount has been reduced by 3,800 and is likely to be reduced by around 1,200 more during the coming quarters.

The economic situation still makes the outlook very uncertain. Demand is however expected to remain weak in most industries and regions and stay around the current level. …

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