MDM News Digest 3818

Global electrical distributor Sonepar Group, Paris, France, has appointed Paul Klasing as president of Sonepar USA, effective Jan. 1, 2009. Klasing succeeds Tony Burr who has been appointed to a new global role focusing on strategic initiatives for the Sonepar Group. More
 
United Stationers Inc., Deerfield, IL, master distributor of business, jan-san and industrial products, has tapped Stephen A. Schultz to the position of group president, LagasseSweet and ORS Nasco. Todd A. Shelton has been promoted to president of LagasseSweet after serving since 2005 as its COO. William K. Scheller, senior vice president and president of ORS Nasco Inc., the company's industrial supplies division acquired in December 2007, has resigned from the company effective at the end of September 2008 for personal reasons. Schultz will manage this business while the company searches for Scheller's successor. More
 
Actuant Corp., a Milwaukee, WI-based diversified industrial company, has agreed to acquire Cortland Companies, Cortland, NY, from an investor group lead by Cortec Group for about $230 million. Cortland is a global designer, manufacturer and distributor of custom-engineered electro-mechanical cables and umbilicals, high performance synthetic ropes and value-added steel cable and assemblies.  More
 
The Timken Company, Canton, OH, has invested $14 million in a new thermal treatment facility at its steel plant in Canton, OH. The investment will increase Timken's capacity to produce heat-treated steel bars and tubes primarily suited for use in the energy and industrial market sectors. The new 34,000-square-foot facility will begin operations in December 2008 and is expected to reach a capacity of 45,000 tons per year by mid-2009. More
 
Reliance Steel &Aluminum Co., Los Angeles, CA, has acquired the Singapore operation of HLN Metal Centre Pte. Ltd. Singapore-based HLN Metal processes and distributes custom machined materials and the sawing of metal products and components. The purchase price was $2.6 million.  More
 
U.S. building permits, housing starts and housing completions continued to decline in August, according to the U.S. Census Bureau and the Department of Housing and Urban Development's new residential construction statistics. Housing starts fell to the lowest level seen in 17 years, with starts down 33.1 percent from a year ago. Building permits decreased by 36.4 percent and housing completions were down 35.8 percent. More
 
Illinois Tool Works Inc., Glenview, IL, reported an operating revenue increase of 10.1 percent for the three months ended August 31, 2008. The double-digit increase in revenue growth for the three months was due to contributions from translation and acquisitions.  More
 
Air Products will increase schedule pricing on liquid oxygen and liquid nitrogen by 8 percent, liquid argon and liquid and bulk hydrogen by 12 percent and liquid and bulk helium by 15 percent to 30 percent for merchant customers in North America, effective Oct. 1, 2008, or as contracts permit. Air Products attributed the increases to a "need to address continued cost pressures and the need for ongoing investment in infrastructure."More
 
Richard Bell, chairman of Gates Corp., Denver, CO, and COO of the Industrial and Automotive group of UK-based

Tomkins plc, will retire on Dec. 31, 2008. Effective upon Bell's retirement, Jim Nicol, CEO of Tomkins plc, will assume the role of chairman of Gates Corp. and Alan J. Power will take on the role of Executive Vice President, Industrial and Automotive, where he will be responsible for all of the Group's Industrial and Automotive businesses other than Gates Corp.  More
 
Crane Co., a Stamford, CT-based diversified manufacturer of highly engineered industrial products, has purchased Delta Fluid Products Ltd., a designer and manufacturer of regulators and fire safe valves for the gas industry, and safety valves and air vent valves for the building services market, for $28 million in cash. More
 
Border States Electric, Fargo, ND, has agreed to buy Harris Electric Supply Company with locations in Clarksville, Columbia, Cookeville, Hendersonville, Lebanon, Murfreesboro, and Nashville, TN. Harris Electric provides electrical distribution, power monitoring and power quality, lighting, data communication, control and automation solutions to the residential, industrial/original equipment manufacturer (OEM), commercial construction, data communications, and utility markets. More
 
Textron Inc., Providence, RI, has agreed to sell its Fluid &Power business unit to Clyde Blowers Limited, a UK-based provider of power, materials handling, intermodal transport and logistics and pump technologies, for up to $645 million. The sale will mark Textron's exit from the pump and power transmission industries. Lewis B. Campbell, Textron CEO, said the move will allow Textron to focus its portfolio for "more meaningful value growth, profitability and shareholder return."More
 
McJunkin Red Man has named Andrew Lane as its CEO, effective immediately. Current CEO Craig Ketchum will serve as chairman of the Board of McJunkin Red Man Holding Corp. and H.B. Wehrle III would remain as chairman of the Board of PVF Holdings LLC. Lane was COO of the Halliburton Company, a supplier to the energy industry, from 2004 to 2007. More

PrimeSource Building Products, Inc., Carrollton, TX, distributor of building materials and construction fasteners, will buy Compass International Inc., Anaheim, CA-based distributor and originator of MARKER and DARTS fasteners. Compass International's MARKER family includes drywall, sheet metal, wood, cement, and multipurpose screws, as well as steel building fasteners and driver accessories. More
 
U.S. distributor sales of PT/MC products fell 1.1 percent in July 2008 compared to June 2008. When matched up against sales in the same month last year, sales in July 2008 were up 10.2 percent. Accounts receivable collection days increased 2.6 percent since June 2008. The confidence index of U.S. distributors for July dropped 0.2 points to 5.4 (on a 10-point scale). Canadian distributors were the only category reporting a gain in sales in July 2008, posting a 2.0 increase over June 2008. More
 
July U.S. manufacturing technology consumption totaled $303.44 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 down 21.5 percent from June but up 5.7 percent from the total of $287.02 million reported for July 2007. With a year-to-date total of

$2,655.14 million, 2008 is up 15.5 percent compared with 2007. More

After declining 5.3 percent in June, the value of Canadian building permits increased 1.8 percent to $6.4 billion in July, mainly as a result of multi-family dwelling permits in Central Canada and industrial construction intentions in Saskatchewan. In the residential sector, the value of building permits rose 2.7 percent to $3.7 billion. In the non-residential sector, the value of building permits edged up 0.6 percent to $2.7 billion. More
 
Current dollar manufacturing sales in Canada continued their advance in July, rising 2.7 percent to $54.1 billion, a fourth consecutive monthly increase. Overall, 17 out of the 21 manufacturing industries increased compared with June, accounting for over 97 percent of total sales. Most of the sales gains in July were due to higher volumes, in contrast to the price-induced increases observed in recent months. New orders remained unchanged. More