August 2009 - Page 2 of 4 - Modern Distribution Management

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August 2009

MDM News Digest 3916

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Wolseley Cuts Ferguson CEO/President Position … Gates Buys Hydrolink … Grainger July Sales Down 14% … Timken India Signs Agreement with Spearage … GE and FANUC End Joint Venture … M&A Continues Decline … Manufacturing Accounts for Most Mass Layoffs … U.S./Canadian Manufacturer Sales … Wholesale Prices Down in July … Earnings: Avnet, BlueLinx Holdings, Kaman, Applied Industrial Technologies, Beacon Roofing Supply, ERIKS, RBC Bearings, General Bearing, Fluor, Illinois Tool Works, The Home Depot … USMTC Up 22% from May … Manufacturing Barometer Shows Less Pessimism
 

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Monthly Wholesale Trade: Sales and Inventories for June 2009

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June 2009 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $313.1 billion, up 0.4 percent from the revised May level, but down 21 percent from the June 2008 level.

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Economic Update: Good News May Be Just Around the Corner

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Good economic news may be on the horizon, with the International Monetary Fund recently announcing that the global recession is over. While not all economists agree with this assessment, economic reports are beginning to look a bit more positive than they were three months ago. 
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Commentary: A New and Improved mdm.com

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We are adding powerful new tools to provide you with the best and most user-friendly information and research resource in wholesale distribution. When you arrive on our new Web site in September, take our quick site tour (look for the graphic above). Our tour will show you where to find key features on the new Web site.

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Why Some Suppliers Are Returning

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U.S. manufacturers are beginning to bring back production from foreign countries as they take a holistic look at the costs and problems associated with outsourcing. About a year ago I was visiting a manufacturing plant that manufactured die-cutting presses. The CEO told me that most of the presses were manufactured in Taiwan, but there were a lot of problems trying to communicate the requirements, which resulted in quality problems.

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Wolseley Eliminates Ferguson CEO/President Position

Companies, Free, HVACR, Management, News, Plumbing Products & PVF Distribution, Strategy, Subscriber Only, Top Distributor Sectors /

Responsibilties for top executive post at the U.S. HVAC/plumbing distributor will be taken over by the CEO of Wolseley North America.

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Chicago Fed National Activity Index Improves in July

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All four broad categories of indicators improved, with production-related indicators making a positive contribution for the first time since October 2008.All four broad categories of indicators improved, with production-related indicators making a positive contribution for the first time since October 2008.

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Robbins Acquires Ohio Operations of Biltrite Industries

Chemicals & Plastics Distribution, Finance, Free, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors /

The acquisition of the Findlay, OH, custom mixing plant expands Robbins’ offerings of custom rubber mixes.

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Illinois Tool Works Operating Revenue Down in Latest 3 Months

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Illinois Tool Works Inc., Glenview, IL, reported operating revenue decrease of 24% for the three months ended July 31, 2009. The revenue decline for the three months consisted of a 21% decrease in base revenues and an 8% decline in contributions from currency translation. Acquisitions contributed 5% to revenues in the three month period.
For the most recent three month period, base revenues modestly improved versus the 2009 second quarter largely as a result of improving end market activity for businesses in the transportation, polymers & fluids and construction segments.

On a segment basis, the Company’s three month moving average percentage change for operating revenues, comprised of base revenues, acquisitions/divestitures and currency translation, is provided below. (Percent …

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Industrial Production Up 0.5% in July

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Industrial production increased 0.5% in July. Aside from a hurricane-related rebound in October 2008, the gain in July marked the first monthly increase since December 2007.
Manufacturing output advanced 1.0% in July, primarily due to a jump in motor vehicle assemblies from an annual rate of 4.1 million units in June to 5.9 million units in July. Excluding motor vehicles and parts, manufacturing production edged up 0.2%.
The output of utilities fell 2.4%, reflecting unseasonably mild temperatures in July, and the output of mines increased 0.8%. At 96.0% of its 2002 average, total industrial production was 13.1% below its level of a year earlier.
In July, the capacity utilization rate for total industry edged up to 68.5%, a level 12.4%age points below its 1972-2008 …

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