Motion Industries Company Archives - Page 8 of 8 - Modern Distribution Management

Genuine Parts Company: Cost Cuts a ‘Balancing Act’

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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April 25, 2009

Motion Industries Sales Fall 16% in 1Q 2009

Genuine Parts Company, Atlanta, GA, reported sales in the first quarter ended March 31, 2009, were down 11% to $2.4 billion from the prior-year period. Profit was $89.2 million, a decrease of 28%.

By group:

The Automotive Group: 7% decrease

S.P. Richards (office products): 7% decrease

Motion Industries (industrial): 16% decrease

EIS (electrical): 25% decrease.

Genuine Parts expects the effects of the economic slowdown to persist for "several more …

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April 15, 2009

Genuine Parts Company Sales Up 2% in 2008

Genuine Parts Company, Atlanta, GA, reported sales for 2008 were $11 billion, up 2% from 2007. Profit for the year was $475.4 million, a decrease of 6%.

By segment:

Motion Industries, the Industrial Group, saw a 5% increase for the year. EIS, the Electrical/Electronics Group, reported a 7% increase. The Automotive Group had a slight sales increase in 2008, and S.P. Richards, the Office Products Group, had a sales decrease of 2%.

In the fourth quarter, sales decreased 4% to $2.5 billion. Motion sales were unchanged; Automotive sales were down 6%; EIS sales were down 4%; and Office Products sales were down 5%.

The company reported a weakening in demand across all its business segments in the fourth quarter.

Genuine Parts Company is …

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February 16, 2009

Motion Industries Acquires Monroe Rubber & Plastic Supply

Birmingham, AL-based Motion Industries, a subsidiary of Genuine Parts Co., has acquired Monroe Rubber & Plastic Supply, based near Detroit, MI, in Monroe, MI. Monroe is a distributor of hosing and related accessories, and specializes in hydraulic, industrial, metal hose and Teflon hose assemblies.

With the acquisition, Motion now has nine facilities focused on cutting and coupling hose assemblies.

Monroe President Joe Lark will continue providing leadership for the Monroe operation.

In a recent interview with MDM, Motion Industries President Bill Stevens addressed the distributor’s acquisition and growth strategy:

"We certainly are committed first and foremost and always to being …

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February 16, 2009

MDM Interview, Part 2: Motion Industries’ Focus in 2009

In Part 2 of this interview with Motion Industries President and CEO Bill Stevens, he delves deeper into trends he is seeing in Motion’s core markets, as well as issues distributors face going into 2009.
MDM: What opportunities do you have in the current market?

Bill Stevens: The exciting thing to me is the MRO market in North America is still very large. As long as there are manufacturing plants, some of what we sell is needed and that is an encouraging thought. My greatest concern is the instability of our economy. Our customers are most definitely affected by the deepening economic downturn.

How many people thought companies like Lehman Brothers and others would go like they did as quickly as they did? I think we all thought they …

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December 10, 2008

MDM Interview: Motion’s Growth in Industrial Supplies

MDM sat down with Motion Industries President and CEO Bill Stevens at the recent Power Transmission Distributors Association annual Industry Summit. In Part I of this interview, Stevens addresses Motion’s recent market moves, including its recent acquisition of Drago Supply Company, Port Arthur, TX.

Stevens also talks about the Canadian and Mexican markets and the opportunity Motion sees in alternative energy markets. In Part II of this interview, to be published Dec. 10, 2008, Stevens delves deeper into trends he is seeing in Motion’s core markets. Motion Industries, a subsidiary of Genuine Parts Company, is an industrial distributor. It had $3.36 billion in sales in 2007.

MDM: Talk a little about your recent spate of acquisitions …

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November 25, 2008

Genuine Parts Co. 3Q Sales Increase 3%

Genuine Parts Company, Atlanta, GA, reported sales of $2.9 billion for the third quarter ended Sept. 30, 2008, an increase of 3% over third quarter 2007. Profit for the quarter was $131 million, an increase of 2%.

For the first nine months, sales increased 3% to $8.5 billion. Profit was $387.6 million, an increase of 2% for the same period the prior year.

Three of four segments saw sales improvement in the third quarter. Sales in EIS, the Electrical Group, increased 13%. Motion Industries improved sales by 7%. The Automotive Group reported sales increases of 1%. S.P. Richards, which distributes office products, saw sales remain flat as compared to the same period the prior year.

Genuine Parts Company is a distributor of automotive replacement parts …

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October 17, 2008

Drago Supply Sees Opportunities to Grow Under Motion Industries

Drago Supply Company’s acquisition by Motion Industries, announced in September, will help the regional distributor expand nationally, according to Executive Vice President Sam Drago. Before the acquisition, Drago, based in Port Arthur, TX, serviced the Texas-Louisiana Gulf Coast, East and Central Texas, Louisiana and Arkansas.

National accounts that were once too big for us to handle as a regional distributor are now very interested in talking with us,”Drago says. “Being a part of Motion Industries has already given us a marketing clout and visibility we’ve never enjoyed before. We like that. … We hope this acquisition provides us the opportunity to take Drago Supply national and even global.”

Drago Supply has seen a 17 percent increase in sales in 2008, …

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October 10, 2008

Motion Industries Acquires Drago Supply Company

Motion Industries, the industrial parts group of Genuine Parts Company, Atlanta, GA, has acquired Drago Supply Company, a regional industrial supplies distributor headquartered in Port Arthur, TX. Drago Supply has eight locations in Texas, Arkansas and Louisiana. Motion expects the purchase to generate annual revenues of $75 million.

The acquisition of Drago allows Motion Industries to continue its expansion in the industrial supplies market, an area where we see significant growth opportunities,” said Thomas C. Gallagher, president and CEO of Genuine Parts Company, “Drago is a well-established company with an excellent reputation among their industrial and commercial customer base throughout the south central U.S. Together, Motion Industries and Drago are positioned to …

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September 2, 2008

Motion Industries Sales Up 7% in 2Q

Genuine Parts Company, Atlanta, GA, reported sales of $2.87 billion for the second quarter ended June 30, 2008, up 4% from the prior-year period. Profit for the quarter was $133.1 million, up 2%.

EIS, the Electrical Group, recorded sales growth of 11% for the quarter. Motion Industries saw a sales jump of 7%. And the Automotive Group reported a 2% sales increase. S.P. Richards, the Office Products Group, reported flat sales relative to the second quarter last year.

For the first six months, sales were $5.61 billion, up 4% from the same period in 2007. Profit was $256.6 million, an increase of …

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July 17, 2008

Motion Industries Sales Rise 6% in 1Q

Genuine Parts Company, Atlanta, GA, reported sales for the first quarter ended March 31, 2008, were $2.74 billion, up 3% from last year. Profit was $123.5 million, an increase of 2%.

EIS, GPC’s Electrical Group, sales were up 7% in the quarter.

Motion Industries had a 6% sales increase for the quarter.

The Automotive Group reported a 4% increase in the quarter.

S.P. Richards, the Office Products Group, was down 2% for the quarter, reflecting continued softness in the office products industry.

During the quarter, Automotive bought Altrom Canada and Altrom America, Motion acquired Mill Supply Corp. in March, and S.P. Richards completed the acquisition of O’Henry, a regional office products distributor. …

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April 17, 2008

Motion Industries Sales Up 8% in 2007

Genuine Parts Company reported sales in 2007 were $10.84 billion, up 4% compared with 2006. Profit for the year was $506.3 million, up 7%.

The company’s strongest sales gains came from its two business segments serving the manufacturing sector.

Industrial distributor Motion Industries reported sales were up 8% in 2007, and EIS, GPC’s Electrical/Electronic Group, reported a 7% increase in sales.

The Automotive Group saw saws increase 2%, and S.P. Richards, the office products group, had a decrease of 1% for the year.

In the fourth quarter ended Dec. 31, 2007, overall group sales increased 3% to $2.63 billion.

Automotive Group sales were up 2%, Industrial Group increased sales by 7%, Electrical/Electronics Group was up 6% …

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February 19, 2008

Motion Industries Acquires Meier Transmission

Motion Industries, Birmingham, AL, MRO distributor, has acquired Meier Transmission. Meier has two locations in northeast Ohio and is a distributor of motion control products, mechanical and electrical drives, pneumatic controls, machine safety products, and power transmission products.

Brian McMahon will remain in charge of Meier, and the company will operate under the name Meier Transmission. The company will join Motion’s new automation and systems businesses.

Motion had sales of $3.1 billion in 2006. It is a wholly owned subsidiary of Genuine Parts …

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October 24, 2007

Motion Industries Sales Grow 7% in 3Q

Genuine Parts Company, Atlanta, GA, reported total sales of $2.8 billion in the third quarter were up 4% from the prior-year period, and net income was up 6%.

For the nine months ended Sept. 30, 2007, sales were $8.22 billion, up 4%, and net income was $380.3 million, up 7%.

Motion Industries generated the strongest revenue increase of the group of companies, with sales up 7% in the quarter. The electrical group, EIS, sales were up 4%, followed by Automotive, up 3%, and Office Products, up …

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October 18, 2007

Motion Industries Buys Gerrish Bearing Co.

Motion Industries, distributor of industrial maintenance, repair and operation replacement parts, has acquired Gerrish Bearing Company. Gerrish has locations in Seattle and Tacoma, WA, and is a distributor of bearings, power transmission and industrial products.

The acquisition of Gerrish Bearing Company will allow Motion Industries to continue our penetration of the market with bearings and power transmission products as well as industrial products throughout the area,” said Bill Stevens, Motion Industries president and CEO.

With 2006 sales of $3.1 billion, Motion Industries is a distributor of bearings, power transmission, electrical and industrial automation, hydraulic and industrial hose, hydraulic and pneumatic components, industrial supply products, and …

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August 8, 2007

Motion Industries Sales Up 9% in 2Q

Genuine Parts Company, Atlanta, GA, reported sales increased 4% in the second quarter 2007 to $2.77 billion. Profit was up 8%.

Motion Industries, GPC’s industrial group, increased sales by 9%. EIS, the electrical group, reported a 7% jump, and the Automotive Group had a 2% increase in sales. Office Products was up 1%.

For the six months ended June 30, 2007, overall Genuine Parts Company sales were $5.42 billion, up 4% compared with the same period in 2006. Profit was $251.7 million, an increase of …

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July 19, 2007

Motion Industries Acquires Jonesboro Bearing

Motion Industries, Birmingham, AL, has acquired Jonesboro Bearing & Supply, Jonesboro, AR. Jonesboro Bearing has two locations: Jonesboro, AR, and Stuttgart, AR.
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Jonesboro is a distributor of bearings, power transmission, industrial supplies and fasteners.
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Motion Industries, a division of Genuine Parts Co. with 2006 sale of $3.1 billion, is an industrial parts distributor of bearings, power transmission products, electrical and industrial automation, hydraulic and industrial hose, hydraulic and pneumatic products, industrial supply products and material handling. It has more than 500 locations including nine distribution centers throughout North …

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April 11, 2007

Genuine Parts Company Sales Grow 7% in 2006

Genuine Parts Company, Atlanta, GA, reported sales in 2006 were $10.5 billion, up 7% compared to 2005. Net income for the year was $475.4 million, an increase of 9% from 2005.

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By division:

Automotive: $5.185 billion in sales, up 3.4%
Motion Industries: $3.107 billion, up 11%
Office Products: $1.779 billion, up 7%
Electrical/Electronic: $408 million, up 19%

In the fourth quarter ended Dec. 31, 2006, sales increased 6% to $2.54 billion.

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In the fourth quarter, Automotive Group sales were up 2%, Motion Industries up 11%, EIS (Electrical/Electronics Group) up 17%, and SP Richards, the office products group, up 4%.

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February 20, 2007

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