Industrial Distribution Group, Inc. announced it has formed a committee of independent directors to review strategic alternatives for the industrial distributor, which has about $500 million in annual sales. It also announced it expects revenue for the second quarter to be $132.6 million, down from last year.
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In addition, the company preannounced announced a cost-reduction program and related changes to its executive team.
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The independent committee will be led by the company’s non-executive chairman of the board, Richard M. Seigel.
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IDG needs to consistently grow revenues at a higher level while also seeking a strategic way to reduce its cost profile, both of which have been a source of concern,” Seigel said. “It is imperative that we take …
Industrial Distribution Group Considers Strategic Alternatives
Industrial Distribution Group, Inc. announced it has formed a committee of independent directors to review strategic alternatives for the industrial distributor, which has about $500 million in annual sales. It also announced it expects revenue for the second quarter to be $132.6 million, down from last year.
  ;
In addition, the company preannounced announced a cost-reduction program and related changes to its executive team.
  ;
The independent committee will be led by the company’s non-executive chairman of the board, Richard M. Seigel.
  ;
IDG needs to consistently grow revenues at a higher level while also seeking a strategic way to reduce its cost profile, both of which have been a source of concern,” Seigel said. “It is imperative that we take …
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- Filed In: Finance, Free, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors
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