Operating profit fell 6.4 percent to $78.9 million.
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Latest In Motion Industries
Fourth-quarter sales for Motion increased 2.1 percent.
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Genuine Parts Co. sales increased 3 percent in the quarter.
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Parent company Genuine Parts Company reports sales up 5 percent from last year.
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Cranbrook branch is the companys 52nd branch.
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Parent company Genuine Parts Company reported a sales increase of 7 percent.
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Parent company Genuine Parts Company sales increased 11 percent for the year.
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Motion Industries buys Dayton Supply & Tool Company, and D.P. Brown of Detroit.
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Distributors provide updates on end-market growth, acquisition plans and employee headcount.
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Genuine Parts Company, Motion’s parent company, reported overall sales were up 13 percent.
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Overall, Genuine Parts Co. sales increased 12% for the quarter.
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Motion’s parent company, Genuine Parts Co., reported a 2009 sales decrease of 9%.
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Motion will buy the North American assets of BC Bearing, which has C$185 million in annual sales.
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MDM’s list of headline-makers in 2009.
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Genuine Parts Co., Motion’s parent company, sees sales decrease of 10%.
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Atlanta, GA-based Genuine Parts Company reported sales for the second quarter ended June 30, 2009, were $2.5 billion, down 12% from the second quarter 2008. Profit for the quarter was $103.6 million, a decrease of 22%.
For the six months ended June 30, 2009, sales were $5 billion, down 11% from the same period in 2008. Profit was $192.8 million, a decrease of 25%.
By group:
The Automotive Group reported a 5% decrease in sales. SP Richards, the office products group, was down 6%.
Industrial (Motion Industries) and Electrical groups showed further sales declines due to what GPC said was the worsening conditions in the manufacturing segment of the economy." Motion had a 22% sales decline, and EIS, the electrical products group, had a 34% …
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Last week, Motion Industries, Birmingham, AL, a $3.5 billion subsidiary of Genuine Parts Company, announced it had 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.
The company’s president, Bill Derville, told MDM shortly after the announcement that though selling to Motion was part of an eventual exit strategy for himself and other key stakeholders, it would also bring other benefits to the long-time family-held distributor.
One benefit: growth opportunities.
Derville says that the move will help take the company to the next level with the …
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Motion Industries has purchased another industrial supplies distributor, once again broadening its reach in the sector. The acquired company’s leadership talks in this article about how they came to the decision to sell their business to the fast-growing Genuine Parts Co. subsidiary.
Motion Industries continues to grow its industrial supplies business, this time expanding its reach in the West. The $3.5 billion power transmission/bearings distributor, a subsidiary of Genuine Parts Co., announced May 7 it has acquired General Tool & Supply Co., Portland, OR. It is one of many industrial supplies-focused acquisitions the company has made in the past few years.
The acquisition of General Tool & Supply includes its sister company, Tucson, …
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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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The four business units of Genuine Parts Co. – Automotive, Electronics, Industrial and Office Products – have drafted detailed and specific cost reduction plans, which each have implemented, according to Thomas Gallagher, CEO, in the company’s latest conference call on its first quarter 2009 results.
But as we saw the business decelerating even more in Industrial and Electrical, they had built contingency plans to take more costs out, which they have been working on, and they continue to refine the contingency planning to try to catch up with the declining revenue, he said.
But the company is cautious of not cutting too much. “It’s a balancing act,” says CFO Jerry Nix. “We don’t want to go so far that …
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