May 6, 2009 - Modern Distribution Management

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May 6, 2009

Motion Industries Buys General Tool and Supply

Companies, Finance, Free, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors /

Motion Industries, Birmingham, AL, a subsidiary of Genuine Parts Company, has acquired General Tool and Supply, a regional industrial supplies distributor based in Portland, OR. Motion has also acquired General Tool’s subsidiary Industrial Tool and Supply, Tucson, AZ.
 
General Tool has four locations in Oregon, Washington and Idaho; and Industrial Tool and Supply has two locations in Arizona.
 
General Tool President Bill Derville will remain with the company; the business will continue to be managed as General Tool and Supply, and Industrial Tool and Supply.
 
General Tool stocks hand tools, power tools, precision tools, cutting tools, electronics tools and supplies, construction tools, abrasives, hoists, safety supplies, chemicals, and janitorial …

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Expectations Weaken for Manufacturing in 2009

Economic Trends, Free, Research & Analytics, Subscriber Only /

The Institute for Supply Management has released its spring 2009 Semiannual Economic Forecast, which shows that expectations for the remainder of 2009 have weakened in both the manufacturing and non-manufacturing sectors.

The manufacturing summary, as presented by ISM:
While 15% of respondents predict revenues to be 13.7% greater in 2009 than in 2008, an overall revenue decrease of 14.7% is expected for manufacturing as 67% expect a 25.2% decline, and 18% expect no change. This represents a significant decline in expectations from December 2008 when the panel of supply management executives predicted a 1.1% decrease in 2009 revenues compared to 2008. With operating capacity at 67%, an expected capital investment decline of 22.7% and prices expected to decrease 5.3% …

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DXP Enterprises Sales Fall 14.9% in 1Q

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

DXP Enterprises, Houston, TX, reported sales fell 6.5% to $157.6 million for the first quarter ended March 31, 2009.
 
Excluding sales by three acquired businesses, sales for the first quarter of 2009 decreased 14.9% from the first quarter of 2008 on a same-store sales basis.
 
Profit was $3.17 million, down from $5.4 million in the same period a year ago.
 
DXP attributed the sales decrease to a broad-based decrease in sales of pumps, bearings, safety products and mill supplies, due to a general decline in the …

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