News
Breaking news in Wholesale Distribution
Two major distributors of industrial and oilfield PVF supplies, McJunkin Corporation, with nearly $2 billion in annual revenues,  ; and Red Man Pipe and Supply Company, nearly $1 billion in annual sales, have announced a merger of equals” that will make the new company a leading industrial and oilfield PVF supplier inNorth America. Charleston, WV, andTulsa, OK , will serve as co-headquarters for the new company.
McJunkin Corporation CEO and President H.B. Wehrle III and Red Man Pipe and Supply Company President and CEO Craig Ketchum will serve as Co-CEOs for the new company.
“It is an exciting time for Red Man with great …
The Fastenal Company, Winona, MN, reported sales of $519.7 million for the second quarter ended June 30, 2007, an increase of 13.3% over sales in the second quarter of 2006. Profit increased from $51.5 million in the second quarter of 2006 to $60.2 million in the second quarter of 2007, an increase of 17%.
Sales for the six-month period ended June 30, 2007, were $1 billion, an increase of 13.3% over the first six months of 2006. Profit increased 15%.
During the first six months of 2007, Fastenal opened 123 new sites (Fastenal opened 132 new sites in the first six months of 2006). The 123 new sites represent an increase in stores since Dec. 31, 2006 of 6.2%. During the second quarter of 2007, Fastenal closed one store. There were 8,089 sales employees as of June 30, …
Pearlman Industries, Inc., Commerce, CA, a Harbour Group company and the parent of Pearl Abrasive Co. and Keystone Tools, has acquired Stone Tool Supply, Inc., Atlanta, GA.
Stone Tool Supply is a distributor of tools, equipment and accessories to the stone fabrication market. The company serves customers throughout the Southeast from its retail location in Atlanta as well as with a fleet of mobile sales vehicles, similar to the model of the Keystone Tools division of Pearlman.
Pearlman Industries, Inc. is a supplier of diamond cutting products and abrasives to professionals in diverse end-markets, including stone, tile, construction, welding and equipment rental. The company has two divisions: Pearl Abrasives, which develops abrasives and diamond products sold …
Through its Trelleborg Sealing Solutions business unit, Sweden-based Trelleborg has acquired distributor AFM Inc., Portland, OR, which has 45 employees and sales of US$12.8 million (SEK 85M).
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AFM is a distributor of hydraulic seals and customized rubber components. Products include dynamic seals, static seals and rotary seals. The bulk of AFM’s current sales are to OEM customers in several industrial segments, including aerospace.
AFM’s operations will be integrated into Trelleborg Sealing Solutions. AFM is a profitable and well-managed company with a wide range of products. This acquisition increases Trelleborg Sealing Solution’s market presence in the US Northwest and central California,” says Claus Bars& oslash; e, Business Area President of Trelleborg …
3M, St. Paul, MN, has created the 3M eStore. At the new site, customers in the 48 contiguous United States can purchase 3M products with a credit card.
We’re one of the largest industrial suppliers in the world,” said H.C. Shin, executive vice president, 3M Industrial and Transportation Business, “but we know that our customers aren’t aware of our full product line. By opening the 3M eStore, we are placing our products in more locations where our customers can purchase them.
“In addition, if they tell us they’re interested, we’ll connect them directly to one of our authorized distributors to set up an ongoing relationship. Our No. 1 goal is to make sure our customers can find and purchase 3M products the way they want.
“3M eStore is, in my …
May U.S. manufacturing technology consumption totaled $313.74 million, according to the American Machine Tool Distributors’ Association and the Association For Manufacturing Technology. This total, as reported by companies participating in the USMTC program, was up 6.5% from April, but down 6.5% from the total of $335.52 million reported for May 2006. With a year-to-date total of $1,606.13 million, 2007 was up 7.5% compared with 2006.
These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.
Growth this year, while less robust than in 2006, has now stabilized in the high, single digit range,” said John J. Healy, AMTDA president. “In addition, each of the regions in the U.S. has shown …
SYSCO Corporation, Houston, TX, foodservice marketer and distributor, announced its subsidiary for personal care amenities and other hotel operating supplies, Guest Supply, LLC, has acquired Austin Tatum, a personal care amenity company headquartered in Hong Kong.
The acquisition of Austin Tatum represents an important step for Guest Supply’s and SYSCO’s expansion into the international market,” said Richard J. Schnieders, SYSCO’s chairman and CEO. “With a local presence and infrastructure in place, Guest Supply will now be in a position to better service the Asian properties of its U.S.-based clients as well as increase its Asian client base and the number of product categories it sells in Asia.”
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SYSCO distributes food products to restaurants, healthcare and …
Kennametal Inc., Latrobe, PA, has signed a product supply agreement with Kyocera Corporation, Kyoto, Japan. The agreement includes initiatives such as private labeling, cross-licensing and sales and marketing.
The agreement is global in scope and is designed to complement the suppliers’ existing product lines. Kennametal and Kyocera plan to grow sales of each others’ product lines worldwide. Each company will also continue to sell its own products through established channels.
This agreement will enable each company to leverage the strength of the other in different geographical regions,” said Yukihiro Takarabe, Kyocera Corporation executive officer and general manager of the Corporate Cutting Tool Group. “As Kyocera strives to expand its global footprint, …
May 2007 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 $357.2 billion, up 1.3 percent from the revised April level and were up 8.7 percent from the May 2006 level.
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The April preliminary estimate was revised upward $0.8 billion or 0.2 percent. May sales of durable goods were down 0.5 percent from last month, but were up 4.2 percent from a year ago.
Compared to last month, sales of motor vehicle and motor vehicle parts and supplies were down 5.3 percent. May sales of nondurable goods were up 2.9 percent from last month and were up 13.1 percent from last year. Compared to last month, sales of farm product raw materials were up 9.5 …
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