Avnet Inc. (NYSE: AVT), Phoenix, AZ, reported sales for the second quarter of $4.5 billion, down 10.2% over the same period a year ago. Profit decreased from $36.4 million to $3.7 million. For the first six months of the year, sales decreased 8.9% to $9.2 billion. Profit decreased from $120.1 million to $45.4 million.
Avnet Sales Fell 10.2% in Fiscal 2Q Read More »
Sonepar North America, a subsidiary of the privately held France-based Sonepar Group, has named Chuck Delph as president of its subsidiary Vallen North America. Delph has been president of Vallen US since March 2018.
Sonepar Appoints President of Vallen North America Read More »
Industrial distributor Applied Industrial Technologies (NYSE: AIT), Cleveland, reported fiscal second-quarter sales of $833.4 million, down 0.8% compared to the year-ago period. Net income fell 1.8%to $38 million. Excluding a 3.2% increase from acquisitions, sales decreased 4% on an organic basis reflecting a 3.5% decline in the Service Center segment and a 4.9% decline in the Fluid Power &
Applied Industrial Sales Fall 0.8% in Fiscal Second Quarter Read More »
Innovation is hard to define. But that didn’t stop us from trying to get beyond generic bromides to analyze what it means in markets that are getting increasingly commoditized – by Amazon Business, new emerging marketplaces and other alternative supply sources. “Innovation in the commercial and industrial space is the equivalent of adding incremental or new
New MDM Podcast: The Value in Making Innovation Part of Your Business Model Read More »
AD, Wayne, Pennsylvania, the largest contractor and industrial products wholesale buying group in North America, has announced a new director and two reelected directors among its complement of 12 board members and committee chairs. President of Border States Electric David White is AD’s newest director. White served on the board previously while he was president of Shealy Electrical
AD Elects 2020 Board of Directors Read More »
Led by declines in production-related indicators, the Chicago Fed National Activity Index (CFNAI) fell to 0.35 ;in December from +0.41 in November. Three of the our broad categories of indicators that make up the index decreased from November, and three of the four categories made negative contributions to the index in December. The index’s three-month
The Chicago Fed National Activity Index Fell to -0.35 in December Read More »
Ohio Transmission Corporation, an industrial equipment service provider and distributor headquartered in Columbus, Ohio, has acquired Laron Inc., Kingman, Arizona, a leading service provider of mechanical and electric motor repair and engineering in the southwestern United States. Terms of the transaction were not disclosed. Since its founding, Laron has provided industrial support services, including heavy industrial automation, machining,
Ohio Transmission Corporation Acquires Second Arizona Company Read More »
We’re already seeing some of the tariffs imposed in 2018 and 2019 beginning to be rolled back, but there’s still some confusion and uncertainty over what lies ahead for U.S. manufacturers and distributors in 2020. This week, for example, President Donald Trump told the Wall Street Journal that he’s serious about imposing tariffs on European cars. At the
5 Things Distributors Should Know About the Impact of Tariffs on US Business Read More »
Power management company Eaton on January 21 announced it has entered into an agreement to sell its Hydraulics business to Danfoss A/S, a Danish industrial company, for $3.3 billion in cash — a 13.2 multiple of 2019 EBITDA. Eaton’s Hydraulics business accounted for 86% of Eaton’s Hydraulics segment revenue in 2019. The business had sales
Eaton Reaches $3.3B Deal to Sell Its Hydraulics Business Read More »
Evergreen Marketing Group CEO Kevin Higginbotham has announced plans to retire in mid-2022. As a result of the announcement, the Evergreen Board of Directors has named a Succession Steering Committee to lead the transition. Higginbotham joined Evergreen in June 1995 as executive director and was named CEO in 2006. Keith Turtenwald, chairman of the Evergreen board of directors, said,
Evergreen Marketing Group Outlines Succession Plan Read More »
Optimas OE Solutions LLC, Glenview, Illinois, has named three industry executives to the company’s leadership team, including Marc Strandquist as president of the Americas, Mike Tuffy as president of International and Kate Daly as senior vice president of Global Human Resources. These industry veterans will focus on business growth and organizational strategy while strengthening operations and
Optimas OE Solutions Names Three Executives to its Leadership Team Read More »
Not long ago, the B2B distribution business presented a fairly simple equation: The more calls your skilled account managers could make on customers, the more those customers would buy. You built your sales process on this foundation of face-to-face interactions. You won by having the best team, with the right inventory in branches near the
Fastenal Quarterly Report Reinforces How Customer Dynamics are Changing Read More »
Emuge Corp., West Boylston, Massachusetts, has named Scott Lowe as national accounts manager for the U.S. and Canada. In his new position, Lowe is responsible for developing and managing channel partner relations with key customers, distributors and integrated suppliers of Emuge products. “I am very pleased to welcome Scott to Emuge to further strengthen our sales organization
EMUGE Appoints Kennametal Veteran as National Account Manager Read More »
Industrial production declined 0.3% in December, as a decrease of 5.6% for utilities outweighed increases of 0.2% for manufacturing and 1.3% for mining, according to the latest data from the Federal Reserve. For the fourth quarter as a whole, total industrial production moved down at an annual rate of 0.5%. At 109.4% of its 2012 average,
Manufacturing Production Increased 0.2% in December Read More »
In the coming years, major disruptive forces are aligning that will potentially restructure the wholesale distribution industry, McKinsey analysts recently predicted. However, the report notes, “while the overall picture may look bleak, we see opportunities across sectors. A handful of industry leaders are growing share and margin.” In other words, distributors can win the next decade
5 Ways You Can Use AI to Win the 2020s Read More »
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AgoNow, Tulsa, Oklahoma, an industrial wholesaler and channel solutions provider, has joined the IBC industrial buying group. AgoNow partners with distributors and manufacturers of industrial MRO, commercial construction, welding and safety products. As a wholesaler, AgoNow does not sell directly to end-users. “The addition of AgoNow enhances our members’ fulfillment and logistics capabilities with end users,” said Mark
AgoNow Joins IBC Buying Group Read More »
AD, Wayne, Pennsylvania, the largest contractor and industrial products wholesale buying group in North America, has promoted Justin Dunscomb to president of the Plumbing and Pipe, Valves and Fittings-U.S. Divisions within the Plumbing, Heating, Cooling and Pipe Business Unit. The two divisions will continue to operate separately for the purposes of governance, boards, networks and committees. Most recently,
AD Names President of Plumbing, PVF-US Divisions Read More »
Your customers seek innovative, cost-effective integrated supply solutions. But a commitment to integrated supply requires substantial resources dedicated to sourcing, logistics, identification, multi-shift staffing, KPI reporting and more. How do you get into this space with such high barriers to entry? Consider a hybrid integrated supply model that can mitigate your risk and resource investment
How to Overcome Barriers to Delivering Integrated Supply Solutions Read More »
Clarence Martin, the Chief Executive Officer and Chief Financial Officer at State Electric Supply, has died. Martin was hired at State Electric Supply in 1972 as the company’s comptroller, when the company only had 41 employees and two branches. With Martin’s guidance and leadership, State now has 44 branches across seven states, with nearly 800
State Electric Supply CEO Clarence Martin Dies Read More »
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