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Breaking news in Wholesale Distribution
Schneider Electric has agreed to acquire Ritto GmbH & Co Kg, a German firm that manufactures door entry and intercom systems for the residential and small tertiary buildings markets. Ritto had revenue of nearly 25 million euro in 2006.
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The company will be added to Schneider’s offerings in Installation Systems and Control, which includes wiring devices, installation material, control products and VDI.
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Schneider has operations in 190 …
Rockwell Automation, Inc., Milwaukee, WI, has agreed to acquire UK-based Industrial Control Services Group Limited for & pound; 110 million (US$218.4 million) in cash. ICS does business as ICS Triplex, a global supplier of control and safety solutions to process industries.
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ICS Triplex annual revenues are projected to be & pound; 70 million (US$138.9 million) for its current fiscal year which ends May 31, 2007.
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Headquartered in Maldon, United Kingdom, ICS Triplex has more than 500 employees and operations across Europe, the Middle East, Asia and North America. It serves industries including oil and gas exploration, production, transportation and refining as well as chemicals and power generation.
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ICS Triplex will be included in …
Both the overall U.S. Gross Domestic Product (GDP) and the manufacturing sector will decelerate in 2007 before regaining a measure of strength in 2008, according to a new report.
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The Manufacturers Alliance/MAPI Quarterly Economic Forecast predicts that inflation-adjusted GDP growth, 3.3 percent in 2006, will slow to 2.3 percent in 2007 before rebounding to 3.0 percent in 2008. By supplying major assumptions for the economy and running simulations through the Global Insight Macroeconomic Model, the Alliance generates unique macroeconomic and industry forecasts.
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The deceleration in economic growth is primarily a consequence of the continued housing slump, soft business investment, a surprise downshift in exports, and inventory adjustment,” said Daniel …
RBC Bearings Incorporated, Oxford, CT, a manufacturer of highly-engineered precision plain, roller and ball bearings for the industrial, defense and aerospace industries, has acquired Phoenix Bearings Limited for $4.3 million in cash.
Phoenix, in Gloucestershire, England, manufactures bearings for the steel and mining industries as well as other general industrial applications with bore sizes ranging from 100 millimeters to one meter. Phoenix generated revenues of $4.5 million in its most recent calendar year.
RBC Bearings Incorporated is an international manufacturer and marketer of highly engineered precision bearings and …
Grainger President and COO Jim Ryan told analysts this week that the competitive landscape has shifted thanks to growing consolidation. Small regional and local distributors still command the overwhelming share of this market — more than 75%,” he said. “But they’re under attack from larger regional and national players. The billion-dollar plus players are growing at a disproportionate rate to the market and to their smaller competitors.
“…There is going to be a need for specialist distributors, and there is absolutely a place for large-scale distributors. The ones who will find it more difficult are the generalists in the middle.”
When asked about the potential impact of a possible HD Supply spinoff by Home Depot, Ryan said HD Supply’s position would not change. …
Anixter International Inc., Glenview, IL, distributor of communication products, electrical and electronic wire & cable and a distributor of fasteners and other small parts has acquired Eurofast SAS, Collegien, France, from Lisi SA for $27 million.
Eurofast is an aerospace fastener distributor in the aerospace and defense industries. For 2007, Eurofast is expected to generate sales of $22 million.
Commenting on the acquisition, Bob Grubbs, President and CEO of Anixter, said, This acquisition is another step in the geographic expansion of our OEM Supply business through the addition of important customers primarily within France in an end market where we have little penetration today within Europe.”
Anixter International has locations in 247 cities in …
Dayton Reliable Air Filter has acquired Filter Services, Cincinnati, OH, according to the Dayton Business Journal.
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Dayton Reliable Air Filter, with 30 employees, distributes air filters and does air filter service for commercial and industrial …
Illinois Tool Works has acquired Tregaskiss Welding Products of Windsor, Ontario, Canada.
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Tregaskiss is a manufacturer of robotic and semi-automatic MIG welding torches and peripherals.
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Tregaskiss, a privately held company, employs 179 people and offers its products through welding supply distributors in Canada and the U.S. The company will continue to operate independently, which is consistent with ITW’s decentralized organizational structure.
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Other ITW welding companies include Hobart Brothers, Jetline Engineering, Smith Equipment, Tempil and Weldcraft.
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ITW, Glenview, IL, is a $14.1 billion diversified manufacturer of highly engineered components and industrial systems and …
Fenton Hord, head of Wolseley plc’s U.S. building materials business, Stock Building Supply, will retire July 31, 2007.
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Hord will be succeeded by Joe Appelmann as CEO, who has been with the company for 18 years.
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Hord was with Wolseley for 20 years. When he was appointed CEO of the building materials arm in the U.S. in 1987, sales were $113 million. Revenues reached $5.3 billion in 2006.<br ...
Audax Group, Boston, MA, has acquired UTEX Industries, Inc. Headquartered in Houston, TX, UTEX is a manufacturer of complex gaskets and highly engineered seals to oil and gas, water distribution, and industrial end markets.
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UTEX CEO Michael Balas will continue to lead the management team.
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Audax Group Co-CEO Geoffrey S. Rehnert says the firm, which invests in middle-market companies, wants to capitalize on positive trends in the energy market. Audax plans to grow the business by expanding into new markets and executing strategic add-on acquisitions.<br ...
