The MRO distributor recorded a net loss for the quarter of $5.5 million.
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Latest In Lawson Products
Lawson Products will also consolidate three Illinois facilities into one state-of-the-art packaging and distribution center in McCook, IL.
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The company’s conversion to a new ERP system created disruption in August.
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Sales growth for Lawson was driven by national, government and automotive customers.
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Distributor recognizes it has to get buy-in from its employees for its transformation to succeed.
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Lawson Products CEO Thomas Neri and COO Harry Dochelli recently spoke with MDM about the changes they are making to better compete in the market, including a new SAP system, a reorganized sales force, a new pricing model, an upgraded website and an optimized network. The distributor’s leaders share their story and what they are learning as they go down this road of change. Lawson Products is No. 24 on MDM’s recently released list of the Top 40 Industrial Distributors.
In 2008, Lawson Products agreed to pay a $30 million penalty in a case where sales agents, according to the government, provided nearly…
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In interview, Lawson COO talks about distributor’s success with lean in all areas of the business.
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Sales growth primarily a result of increases in Lawson’s national, government and automotive segments.
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Fourth-quarter sales for Lawson Products were up 13.1%.
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Lawson Products says Rutland sale is in line with plan to focus on MRO business.
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Distributor says new line is part of larger strategy to grow its customer base through product expansion.
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Growth for the industrial distributor was primarily driven by strategic, government and automotive customers.
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Sale price for Lawson’s supply chain management subsidiary was $19 million.
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Lawson reports a profit for the first half of 2010, compared with a loss in 2009.
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But sales for Lawson Products improved from the fourth quarter 2009.
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Sales for the distributor of products and services to the MRO and OEM marketplaces fell 21.9% for the year.
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The distributor recorded a loss of $2.6 million for the first nine months.
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Lawson Products, Inc., Des Plaines, IL, a distributor of services, systems and products to the MRO and OEM marketplaces, reported sales for the second quarter of 2009 of $95 million, down 25.3% from the prior year period. Profit was $1.8 million, compared to a loss of $29.7 million in the second quarter 2008.
Sales for the six month period ended June 30, 2009, were $194.4 million, a decrease of 23.2% from the prior year period. The company reported a net loss of $4.1 million in the first six months of 2009, compared to a loss of $25.3 million in the first six months of 2008.
"We are beginning to see positive results from the cost reduction initiatives we implemented over the last several months," said Thomas Neri, president and CEO. "Beyond our cost initiatives, we are working hard …
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Lawson Products, Inc., Des Plaines, IL, a distributor of services, systems and products to the MRO and OEM marketplaces, reported sales for the first quarter of 2009 were $99.4 million, down 21% year-over-year. The company recorded a loss of $5.9 million for the quarter, compared to a profit of $4.4 million a year ago.
Restructuring charges and additional costs related to the settlement of the investigation by the U.S. Attorney’s Office for the Northern District of Illinois, totaled $6.5 million in 2009 and $1.3 million in 2008.
"While the global economic recession continues to impact our business, we remain committed to making aggressive cost decisions that will better position Lawson to emerge as a stronger company than it was when we entered …
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Layoffs and buyouts continue as the weak economy persists. Two industrial companies announced further staff reductions this week.
3M, St. Paul, MN, said it would offer early retirement packages to 3,600 employees in the U.S., about 11% of its total U.S. workforce, according to a report published by the St. Paul Pioneer Press. The announcement comes a week after the diversified manufacturer reported it would be laying off 1,200 employees, primarily outside the U.S.
Lawson Products Inc., Des Plaines, IL, announced it would eliminate 150 positions – about 11% of its workforce – by the end of the second quarter 2009. In addition, the industrial distributor will close its Dallas, TX, distribution center in response to economic …
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