2007 - Page 2 of 47 - Modern Distribution Management

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Forecast: Manufacturing Flat in 2008

The U.S. manufacturing sector will face turbulent times next year due in large part to the continuing housing collapse.&nbsp ; As a result, the economic landscape will remain highly volatile in 2008 before rebounding in 2009, according to the Manufacturers Alliance/MAPI Quarterly Industrial Outlook, a report that analyzes 27 major industries.
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Housing starts were down 24 percent in the third quarter of 2007.&nbsp ; They are expected to fall another 28 percent in 2008, according to Daniel J. Meckstroth, chief economist for the Manufacturers Alliance/MAPI, and author of the analysis.&nbsp ; The good news is that the trend is likely to reverse itself in 2009, when housing starts are expected to see 34 percent growth to 1.3 million units.
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On an annual basis, MAPI ...

Forecast: Manufacturing Flat in 2008 Read More »

Dover Acquires Industrial Motion Control

DE-STA-CO, New York, NY, an operating company within the Material Handling platform of Dover Corporation's Industrial Products segment, has acquired Industrial Motion Control LLC, Wheeling, IL, with annual revenues of $50 million.
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Serving a global customer base, IMC is an industrial automation manufacturer of mechanical motion control products, including high precision cam-actuated index drives, parts handlers and precision link conveyors, which are integrated into advanced factory automation systems used in a wide variety of industries, including paper conversion, consumer products, packaging, semiconductor, automotive, medical and pharmaceuticals.
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IMC has additional facilities in Belgium and China.
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Dover, with over $7 billion in annualized ...

Dover Acquires Industrial Motion Control Read More »

Actuant Organic Growth at 3% in 1Q

Actuant Corporation, Milwaukee, WI, reported sales of $415 million in the first quarter 2007, a 21% increase from the prior year. The manufacturer had 3% organic growth.
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Robert Arzbaecher, President and CEO of Actuant said: Robust Industrial segment sales as well as continued strength in the European truck market had a favorable impact on our core sales growth in the quarter. These results reinforce the benefits of Actuant's end market, geographic and customer diversification."
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First quarter fiscal 2008 net earnings were $27.4 million, compared to prior year net earnings $25.1 million.
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Industrial Segment
First quarter fiscal 2008 Industrial segment sales increased 32% to $137 million. Excluding currency translation and ...

Actuant Organic Growth at 3% in 1Q Read More »

Air Liquide Plans Expansion in Europe

Air Liquide is planning to expand and modernize its production capabilities in Europe to the tune of & euro; 2 billion a year through 2011.
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The industrial gases company will build three new air separation units (ASU) in response to needs of ArcelorMittal and two industrial areas in France.
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Guy Salzgeber, Vice-President European Operations and member of the Executive Committee, Air Liquide Group, said: "These new investments respond to the high demands of the clients, who include steelmakers, refiners and chemical companies. They are part of the policy of Air Liquide, which will invest around & euro; 2 billion each year between 2007 and 2011, to accelerate its growth and to respect its commitments in terms of sustainable development." ...

Air Liquide Plans Expansion in Europe Read More »

Rexel Pushes Ahead With Offer for Hagemeyer

Paris-based electrical distributor Rexel confirmed that it will keep its bid of & euro; 4.85 per share for Dutch rival Hagemeyer NV, a total of about & euro; 3.1 billion (US$4.5 billion).

Analysts and industry-watchers questioned whether the company would move ahead with its takeover bid or reduce the offer after Hagemeyer was ordered to pay & euro; 50 million in advance damages over the bankruptcy of a former ...

Rexel Pushes Ahead With Offer for Hagemeyer Read More »

Pro-Build Holdings Buys Rosen Building Supplies

ProBuild Holdings, Denver, CO, supplier of building materials to professional contractors, has purchased Fort Lauderdale, FL.-based Rosen Building Supplies, supplier of drywall and related products to commercial and residential building markets, according to Home Channel News.
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Rosen Building Supplies has four locations in Florida and one in Las ...

Pro-Build Holdings Buys Rosen Building Supplies Read More »

Rexel Still Considering Whether to Change Bid for Hagemeyer

French electrical distributor Rexel is still looking at whether it will lower or drop its bid for Dutch rival Hagemeyer NV, according to Reuters news service. The question comes after Hagemeyer was ordered to pay & euro; 50 million in advance damages over the bankruptcy of a former subsidiary.
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The Financial Times in London however said Rexel was pushing ahead with its & euro; 3.1 billion takeover offer. The Reuters article contradicted that report.
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Still, Hagemeyer has said the details about the lawsuit were public, as well as the timing of the case. The Financial Times said that Hagemeyer in its 2006 annual report estimated damages in the case to be & euro; 160 ...

Rexel Still Considering Whether to Change Bid for Hagemeyer Read More »

SKF to Close Kentucky Facility

In an effort to reduce costs, SKF will close its manufacturing facility in Glasgow, KY, and reduce the number of employees at the Fontenay-le-Comte facility in France.
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The production at the Glasgow factory will move to the Group's factory in Puebla, Mexico. The company said the move is necessary to remain competitive in the U.S. automotive market.
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The number of employees worldwide through 2009 will be reduced by ...

SKF to Close Kentucky Facility Read More »

Applied Industrial Expands Network in Mexico

Applied Industrial Technologies, Cleveland, OH, has acquired VYCMEX S.A. de C.V., headquartered in Monterrey, Mexico. It is a fluid power distributor with more than 70 employees.
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VYCMEX operates five service centers in Monterrey, Mexico City, Veracruz and San Luis Potosi. It will operate as a wholly-owned subsidiary of Applied Mexico Holdings S.A. de C.V.
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The acquisition of VYCMEX gives Applied substantial expertise and capabilities in fluid power products and systems in Mexico," said Todd A. Barlett, Vice President -Acquisitions and Global Business Development for Applied.&nbsp ; "We can now provide a total product solution for Mexican industries that covers a broad range of hydraulics, pneumatics, bearings, power transmission and general industrial ...

Applied Industrial Expands Network in Mexico Read More »

Ingersoll-Rand to Acquire Trane Inc. for $10.1B

Ingersoll-Rand Company Ltd., Hamilton, Bermuda, has agreed to acquire Trane Inc., formerly American Standard Companies Inc., Piscataway, NJ, for $10.1 billion, including the assumption of $150 million of Trane net debt.
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Trane is a manufacturer of indoor climate control systems, services and solutions with expected 2007 revenues of $7.4 billion.
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According to Ingersoll Rand, the acquisition will form a $17 billion global industrial company, which includes an $11 billion Climate Control business. Trane's commercial and residential climate control business complements Ingersoll Rand's Hussmann and Thermo King brands.
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The total value was $47.81 per Trane share based on the closing price as of Dec. 14, 2007.
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Trane Inc., previously ...

Ingersoll-Rand to Acquire Trane Inc. for $10.1B Read More »

WESCO Enters Joint Venture with Deutsch ECD

Electrical distributor WESCO International Inc., Pittsburgh, PA, will enter a joint venture with Deutsch Engineered Connecting Devices Inc., where the Hemet, CA-based company would own 60% of WESCO's LADD operations at a price of $75 million.

Under the agreement, Deutsch has the option to acquire the remaining 40% after Jan. 1, 2010.
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LADD, a part of Carlton Bates, acquired by WESCO in September 2005, distributes specialized severe duty industrial connectors. LADD has been a master distributor of Deutsch connectors in the U.S. for more than 20 years and has annual sales of $100 million.
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WESCO and Deutsch will work together to further penetrate existing customers in the specialized heavy-duty connector market, and to accelerate growth in new market ...

WESCO Enters Joint Venture with Deutsch ECD Read More »

Illinois Tool Works Sales Up 16.6%

Illinois Tool Works Inc., Glenview, IL, revenues increased 16.6% in the three months ended Nov. 30, 2007. Organic growth was 2.5%.
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International base revenues were up 5% while North American revenues grew less than 1%.

On a manufacturing segment basis, the company's three-month moving average percentage change for operating revenues, comprised of base revenues and acquisitions net of divestitures, was:

  • Engineered Products/North America sales were up 2.2%.
  • Engineered Products/International sales were up 26.4%.
  • Specialty Systems/North America sales were up 7.7%.
  • Specialty Systems/International sales were up 16.2%.

ITW is a $14.1 billion diversified ...

Illinois Tool Works Sales Up 16.6% Read More »

Textron’s Greenlee Unit Acquires Paladin Tools

To broaden the company's position in the voice, data and video channel, Textron Inc.'s Greenlee business unit has acquired Paladin Tools, Oilville, VA, a provider of tools and accessories for the telecom, datacom and wiring industries.

Strategically, this acquisition provides Greenlee with a complementary brand portfolio and an expanded product line," said Scott Hall, Greenlee president. "Paladin also gives Greenlee access to additional distribution channels in the voice, data and video industry that will broaden our customer base for communications wiring tools.

Paladin's brand names include Paladin Tools, DataShark and PowerPlay, and the company's product line includes a variety of cutters, strippers, punchdown tools, crimpers, multi-tools, testers, kits ...

Textron’s Greenlee Unit Acquires Paladin Tools Read More »

United Rentals, Cerberus Capital Head to Court

The dispute between United Rentals Inc. and Cerberus Capital Management is moving into the courtroom.
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A Delaware court will hear the case that United Rentals, Greenwich, CT, initiated on Nov. 19, 2007, against Cerberus acquisition vehicles RAM Holdings Inc. and RAM Acquisition Corp.
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The lawsuit seeks to compel Cerberus to complete its purchase of United Rentals.
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United Rentals said in a statement that it has fulfilled its obligations under the merger agreement with Cerberus and stands ready to complete the merger transaction on the agreed-upon terms.
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United Rentals is an equipment rental company with over 690 rental locations in 48 states, 10 Canadian provinces and one location in Mexico. The company offers for rent over 20,000 ...

United Rentals, Cerberus Capital Head to Court Read More »

Watsco to Buy HD Supply’s HVAC Assets

HD Supply has signed a letter of intent to sell its Rheem/Ruud HVAC operations to Watsco Inc., Coconut Grove, FL, an HD Supply spokeswoman confirmed. She said&nbsp ; the companies are in the process of due diligence on the deal.
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If it moves forward, the transaction would close in the first quarter of 2008. The assets will become part of Watsco's Gemaire group in Ft. Lauderdale, FL.
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HD Supply will hold onto its plumbing assets.

The HD Supply Plumbing/HVAC business Web site lists Hughes Supply and Apex Supply Co. as the two companies that made up the division. Former revenue reports do not separate the plumbing from the HVAC sales.

Apex,Atlanta, GA , was ...

Watsco to Buy HD Supply’s HVAC Assets Read More »

Pro-Build Acquires Lumber Inc.

Pro-Build Holdings, Denver, CO, has acquired Lumber Inc., Albuquerque, NM, distributor of lumber, flooring and roof trusses, Home Channel News has reported.
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The Lumber Inc. locations complement operations in Santa Fe and Albuquerque.
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Lumber Inc. has four locations in the market, one in Santa Fe and one in Las Cruces.
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Pro-Build recently announced it would buy the Lumber and Building Materials division of HD Supply in the ...

Pro-Build Acquires Lumber Inc. Read More »

Sonepar’s Viking Electric Supply Buys Anchor Electric

Viking Electric Supply, Minneapolis, MN, a subsidiary of Sonepar USA, has acquired Anchor Electric Supply, a single-branch distributor in Sturgeon Bay, WI, which serves the contractor and industrial markets.
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Anchor Electric Supply has six employees. Its facility features more than 14,000 square feet, which includes employee offices, a showroom floor and warehouse space.
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The Anchor merger is a great extension of our business operations in Green Bay and northeastern Wisconsin. Pat Saladin has built a business model that focuses on customer service and has been an excellent competitor of ours for many years," said Greg Hames, president of Viking Electric. "& hellip; We intend to continue the expansion of our Upper Midwest footprint and the Anchor purchase is ...

Sonepar’s Viking Electric Supply Buys Anchor Electric Read More »

Industrial Production Up 0.3% in November

Industrial production increased 0.3&nbsp ; percent in November; the change in production over the previous three months was revised down, on net, an average of 0.1 percentage point per month.
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At 113.9 percent of its 2002 average, total industrial production in November was 2.1 percent above its year-earlier level.
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Output in the manufacturing sector increased 0.4&nbsp ; percent in November. The output of utilities dropped 1.3&nbsp ; percent because of a decline in electric utilities; the output at mines increased 1.1&nbsp ; percent.
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Capacity utilization for total industry edged up, to 81.5 percent, a rate slightly above its year-earlier level and 0.5 percentage point above its average.
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Industrial Production Up 0.3% in November Read More »

Canadian Manufacturing Sales Edge Up 0.1% in October

Source: Statistics Canada

Manufacturing sales edged up&nbsp ; 0.1% in October, basically holding steady after decreasing in five of the six previous months. Sales of manufactured goods increased&nbsp ; $38&nbsp ; million, reaching&nbsp ; $50.2&nbsp ; billion from&nbsp ; $50.1&nbsp ; billion in September.

Using constant dollars, which take price fluctuations into account, the volume of sales increased&nbsp ; 1.1% to&nbsp ; $50.1&nbsp ; billion in October. The Industrial Product Price Index, which is a major component in calculating the constant dollar value, dropped&nbsp ; 1.1% in October. Despite difficulties for manufacturers presented by the strengthening exchange rate, constant dollar sales were&nbsp ; 3.2% higher ...

Canadian Manufacturing Sales Edge Up 0.1% in October Read More »

Wholesale Prices Rise 3.2% in November

Wholesale prices rose 3.2 percent in November, the Bureau of Labor Statistics of the U.S. Department of Labor reported. The gain followed increases of 0.1 percent in October and 1.1 percent in September.
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At the earlier stages of processing, prices for intermediate goods moved up 3.7 percent after rising 0.1 percent in the prior month, while the crude goods index increased 8.7 percent following a 2.4-percent advance in October.
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The acceleration in the finished goods index was led by prices for energy goods, which surged 14.1 percent in November following a 0.8-percent decrease in October. Prices for finished goods excluding foods and energy, or core inflation, rose 0.4 percent after no change in the preceding month. By contrast, prices for finished ...

Wholesale Prices Rise 3.2% in November Read More »

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