The 2020 Mid-Year Economic Update_long

Day: July 12, 2007

Trelleborg Acquires Distributor of Precision Seals

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 ...

Pearlman Industries, Inc. Buys Stone Tool Supply

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 ...

Fastenal Sales Grow 13% in 2Q

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, ...