April 30, 2009 - Modern Distribution Management

April 30, 2009

Interline Brands Sales Fall 11.2% in 1Q

Interline Brands, Inc., Jacksonville, FL, a distributor and direct marketer of maintenance, repair and operations products, reported sales for the first quarter ended March 27, 2009, were down 11.2% to $256.8 million from the prior-year period.
 
Average organic daily sales decreased 12.9% for the quarter. Interline's facilities maintenance end-market, which comprised 72% of sales, declined 6.7% during the first quarter on an average daily sales basis, and declined 9.2% on an average organic daily sales basis. The pro contractor end-market, which comprised 16% of sales, declined 27.3% in the quarter and the specialty distributor end-market, which comprised 12% of sales, declined 9.4% for the quarter.
 
Profit was $2.9 million, down from $8.6 million in the ...

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National Hose & Accessories Agrees to Buy Coastal Rubber

National Hose & Accessories, a subsidiary of Singer Equities, has agreed to buy Coastal Rubber Company, Houston, TX. Coastal is an industrial rubber products distributor specializing in the fabrication of hydraulic, industrial, and metal hose assemblies. 
 
Roger Hall, the sole stockholder of Coastal, will continue with the new venture as Vice President, Sales & Marketing, of the combined companies.
 
Singer Equities, Inc. is a group of valued-added distributorships in the industrial rubber products industry offering a full range of hydraulic, industrial, and metal hose, conveyor belting, gaskets, and many other specialty fabricated items. ...

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Manufacturing Sector Contracts in April

The manufacturing sector once again contracted in April, according to the latest Manufacturing ISM Report on Business.
 
The decline in the manufacturing sector however has moderated, says the Institute for Supply Management. After six months below the 40% mark, the PMI, driven by the New Orders Index at 47.2%, has shown improvement at 40.1%.
 
Still, ISM reports that "a large gap must be closed before manufacturing begins to grow once again. The Customers' Inventories Index indicates that channels are paring inventories to acceptable levels after reporting inventories as 'too high' for eight consecutive months. The prices manufacturers pay for their goods and services continue to decline; however, copper prices have bottomed and are now starting to ...

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Chrysler Bankruptcy: What It Means to Distributors

In December, Mike Hamzey Jr., vice president and legal counsel for R.M. Wright Co. in Farmington Hills, MI, told MDM that bankruptcy (of the automakers) is probably the worst thing that could happen right now."
 
Fast-forward to the present day and the first of the Big Three has gone that way, with Chrysler LLC filing for bankruptcy protection on Thursday. But with it, Hamzey's tune has changed a little, as well. "We've had the last five months to prepare ourselves for the real possibility," Hamzey tells me today. "Because of that and some of the other changes that have come in that time, it's not as bad as it could have been back in ...

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