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MDM News Digest 3909

Kennametal, Latrobe, PA, has acquired ROMICRON technology and manufacturing from Industrias Romi S.A. Kennametal has been the global distributor of ROMICRON for the past 14 years. The ROMICRON technology and manufacturing will be integrated into Kennametal’s Indaiatuba, Brazil, location and will help to strengthen the company’s holemaking and precision hole finishing portfolio.

DXP Enterprises, Houston, TX, reported sales fell 6.5 percent to $157.6 million for the first quarter ended March 31, 2009. Excluding sales by three acquired businesses, sales for the first quarter of 2009 decreased 14.9 percent from the first quarter of 2008 on a same-store sales basis. Profit was $3.17 million, down from $5.4 million in the same period a year ago.
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Building Materials/Construction
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Kennametal Acquires ROMICRON

Kennametal, Latrobe, PA, has acquired ROMICRON technology and manufacturing from Industrias Romi S.A.
 
Kennametal has been the global distributor of ROMICRON for the past 14 years.
 
The ROMICRON technology and manufacturing will be integrated into Kennametal’s Indaiatuba, Brazil, location and will help to strengthen the company’s market holemaking and precision hole finishing portfolio.
 
Kennametal Inc. is a global supplier of tooling, engineered components and advanced materials consumed in production processes. As of the prior fiscal year end, sales were $2.7 billion with more than 50 percent of these revenues coming from outside North America. …

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Fourth Quarter Public Distributor Report

About this report: This is the MDM Public Distributor Report, provided on a quarterly basis to subscribers of Modern Distribution Management. The report is available online only.


Click here to download this report in pdf.

In distributors’ recent earnings calls with analysts, many said they were looking at cost reductions, better training, increasing private label, and considering strategic acquisitions in the next year. The focus will remain on sustaining profitability.

Refocusing on the Workforce
Drug distributor Owens & Minor has seen a work force opportunity arising from the economic turmoil: Build on existing resources. In the last quarter, the drug distributor …

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MDM News Digest 3903

Grainger, Chicago, IL, has named Court Carruthers to a newly created position as president of its international businesses in Canada, Mexico, and China. Carruthers’ new responsibilities include growing and improving Grainger’s international business operations, which had sales of more than $800 million in 2008. Carruthers is currently president of Grainger’s Canadian subsidiary, Acklands-Grainger. More

Grainger reported sales of $6.9 billion for the year ended Dec. 31, 2008, up 7 percent from 2007. Profit of $475 million was up 13 percent. Grainger reported that it is somewhat below the low end” of the range it provided in November for 2009 of -5 percent and +5 percent. In …

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Kennametal 2Q Sales Decline 12%

Kennametal Inc., Latrobe, PA, reported second quarter sales of $569 million, a decrease of 12% from the same quarter a year ago. Profit was $15.7 million, down 68.7%.
 
For the first six months of fiscal year 2009, sales were down 1.6% to $1.23 billion. Profit was down 39.9% to $51.1 million.
 
"Kennametal has made solid progress in executing strategies to balance our businesses across served geographies and end markets. However, we are not immune to the rapid and significant global decline in industrial production that has taken place over the past few months," said President and CEO Carlos Cardoso. "As a result, we continue to take actions to reduce our costs and right size our business in line with current economic conditions while minimizing the …

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Kennametal Announces Plans to Eliminate 800 Positions

Kennametal Inc., Latrobe, PA, announced plans to reduce headcount by 800 positions within the next three to six months in an effort to address current market challenges and reduce costs while improving competitiveness. The cuts are in addition to 400 positions announced as part of a restructuring plan in April 2008.
 
A global decline in industrial production, amplified by customers reducing their inventories has significantly decreased demand and precipitated further cost reduction actions. In addition to the headcount reductions, the company continues to adjust its manufacturing workforce in line with production requirements and to implement other steps to reduce costs.
 
The global supplier of tooling, engineered components and advanced materials expects to …

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MDM News Digest 3820

Wolseley plc, UK-based distributor of plumbing and heating products and building materials, reported it would not sell Stock Building Supply but instead extensively restructure the U.S. building materials distributor. More
 
84 Lumber has announced 20 more store closings, according to the Pittsburgh Tribune-Review. The building materials distributors closed nine stores a few weeks ago. The company now has 335 stores, down from 400. More
 
Cummins-Wagner Co., Inc., Annapolis Junction, MD, a distributor of industrial process equipment and HVAC equipment in the Mid-Atlantic region, has acquired Rochester, NY-based Siewert …

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Kennametal Organic Growth at 3% in 1Q

Kennametal Inc., Latrobe, PA, reported sales increased in the first quarter by 9% to $669 million. Organic sales growth was 3%. Profit was $35 million, flat from the previous quarter.
 
Our September quarter performance again demonstrates the effectiveness of our strategies to further balance Kennametal across geographies and end markets,” said President and CEO Carlos Cardoso. Cardoso also attributed the quarter’s results to a better geographic balance, with 54% of the company’s revenues coming from outside North America.
 
Metalworking Solutions &Services Group sales increased by 6% during the September quarter, driven primarily by favorable foreign currency effects which increased sales by 6 percent. Increased workdays added a further 2 percent which was offset by …

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Finance
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Kennametal Agrees to Buy Tricon

Kennametal Inc., Latrobe, PA, has agreed to acquire Tricon Metals &Services, Inc. Closing is planned for October 2008. Tricon will become part of Kennametal’s Advanced Materials Solutions Group (AMSG).
 
Tricon is a provider of custom wear solutions specializing in consumable proprietary steels for the surface and underground mining markets, including hard rock and coal. Solutions include cladded products, wear pins, shafting and custom fabricated replacement components.
 
The acquisition will help Kennametal leverage its presence in emerging markets and achieve geographical balance,” according to Kennametal. In addition, Tricon’s strength in surface mining balances Kennametal’s strength in underground mining …

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MDM News Digest 3814

Chicago, IL-based Grainger reported sales of $1.8 billion for the second quarter ended June 30, 2008, up 10 percent over the second quarter 2007. Profit increased 8 percent to $113 million. More
 
The Fastenal Company, Winona, MN, reported sales for second quarter ended June 30, 2008, were $604.2 million, up 16.3 percent over the prior-year period. Profit was up 26.4 percent. Sales for the first six months were up 16 percent from the first six months of 2007. Profit was up 26.2 percent. More

UK-based Wolseley plc, distributor of plumbing and heating products to professional contractors and supplier of ‘

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