January 2008

Report: Dollar Decline Hurting Canadian Manufacturing

Leave a Comment / Economic Trends, Research & Analytics, Free, News, Subscriber Only / MDM Staff

The Canadian economy is firing on all cylinders except one,"with manufacturing in the midst of a year-long recession, according to a new Manufacturers Alliance/MAPI report, available at www.mapi.net.

In "Review of the Canadian Economy, 2007-2008," Jeremy A. Leonard, MAPI economic consultant, writes that the Canadian economy is growing at or above potential, and labor markets are as tight as they have been in a generation. However, manufacturing is suffering from the rapidly strengthening Canadian dollar and slower-than-expected growth in the U.S.

Real gross domestic product grew by 2.9 percent at an annualized rate in the third quarter 2007 but is expected to decelerate to the 2-percent range before ...

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Thomas & Betts Buys Homac Manufacturing

Leave a Comment / Finance, Mergers & Acquisitions, Free, Top Distributor Sectors, Electrical, News, Subscriber Only / MDM Staff

Thomas &Betts Corp., Memphis, TN, has acquired The Homac Manufacturing Company, a manufacturer of components used in utility distribution and substation markets, as well as industrial and telecommunications markets, for $75 million. In 2007, Homac sales were $65 million.

Thomas &Betts is a manufacturer of electrical components used in construction, industrial and utility markets. The company is also a producer of commercial heating and ventilation units and highly engineered steel structures used primarily for utility transmission. ...

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Industrial Production Unchanged in December

Leave a Comment / Economic Trends, Research & Analytics, Free, News, Subscriber Only / MDM Staff

Industrial production was unchanged in December.

For the fourth quarter, output fell 1% (annual rate), the first quarterly decrease since the fourth quarter of 2006. At 114% of its 2002 average, total industrial production in December was 1.5% above its year-earlier level.

Output in the manufacturing sector was unchanged in December. The output of utilities decreased 0.2% in December as a result of a decline at gas utilities; the output at mines edged up 0.1% after an increase of 1% in November.

Capacity utilization for total industry posted a small decrease in December, to 81.4%, a rate slightly below its year-earlier level but 0.4 percentage point above its 1972-2006 ...

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Parker Hannifin Sales Grow 12.7% in 2Q

Leave a Comment / Free, Companies, Top Distributor Sectors, Power Transmission/Motion Control/Fluid Power, News, Subscriber Only / MDM Staff

Parker Hannifin, Cleveland, OH, supplier in motion and control technologies, reported that for the second quarter 2008, which ended on Dec. 31, 2007, sales were $2.8 billion, an increase of 12.7% from the same quarter a year ago.

Profit increased 9.8% to $211.9 million from the same quarter a year ago.

Of the 12.7% sales growth this quarter, 4.9% was organic, 2.9% was the result of strategic acquisitions, and the remainder was from the effects of foreign currency exchange rates.

The company made four strategic acquisitions this quarter, adding $223 million in sales. These acquisitions included electrical and production umbilical cables for subsea oil and gas installations; further expansion of aerospace components and equipment capabilities; ...

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PT/MC Sales Drop 5.9% in November

Leave a Comment / Economic Trends, Research & Analytics, Free, Top Distributor Sectors, Power Transmission/Motion Control/Fluid Power, News, Subscriber Only / MDM Staff

U.S. distributors'sales of power transmission/motion control products continue to fluctuate, dropping 5.9 percent from October to November after a 5.2 percent increase in sales the prior month, according to the latest Power Transmission Distributors Association month-end trend data for November 2007.

Year-to-year comparisons have been positive all year; sales in November 2007 came in 6.8 percent higher than in November 2006. Accounts receivable collection days also continue to fluctuate, increasing 2.5 percent in November 2007 after dropping 6.8 percent last month. The November 2007 confidence index for U.S. distributors remained flat at 6.2 (on a 10-point scale).

Canadian distributors'sales in PT/MC products increased slightly, gaining 0.3 percent ...

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Sperian Protection Sales Up 6.5% in 2007

Leave a Comment / Free, Top Distributor Sectors, Safety Products, News, Subscriber Only / MDM Staff

French-based Sperian Protection reported sales growth of 6.5% in 2007, excluding currency effects. Organic growth was 3.5% for the year.

The safety products manufacturer reported that growth was not as strong in the fourth quarter as in the previous quarter, in large part due to regulatory changes in respiratory systems for firefighters in the U.S., delaying orders.

For more details on Sperian's year-end results, click here. ...

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Veyance Forms Joint Venture in China

Leave a Comment / Finance, Mergers & Acquisitions, Free, Top Distributor Sectors, Facilities Maintenance (MRO), News, Subscriber Only / MDM Staff

Veyance Technologies, Inc., manufacturer of Goodyear-branded conveyor belts, has formed Shandong Aneng Conveyor Belt &Rubber Co., Ltd., a long-term joint venture between Veyance's Asia subsidiary and the Yinhe Group's Ruiyuan Rubber and Plastics Company, Ltd.

Shandong Aneng also has a tentative agreement to purchase exclusive rights to the Yinhe Depreux brand in China.

Based in Yanzhou China, Shandong Aneng is a conveyor belt manufacturer in China. Its 20 production lines annually produce more than 12 million square meters of high quality fabric- and steel-cable-reinforced rubber conveyor belts, as well as fabric-reinforced PVC conveyor belts.

Veyance's subsidiary is the majority shareholder in the new joint venture designed to create technology ...

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PTDA Survey: Distributors, Manufacturers Expect Growth in ’08

Leave a Comment / Economic Trends, Research & Analytics, Free, Top Distributor Sectors, Power Transmission/Motion Control/Fluid Power, News, Subscriber Only / MDM Staff

Concerns the U.S. may be sliding into an economic recession are not immediately evident among distributors and manufacturers in the recent 2008 Member Forecast Survey of Power Transmission Distributors Association.

Among the 46 distributor respondents, 63 percent anticipate sales growth in 2008, just over a quarter project flat sales and about 11 percent expect a drop.

The 57 manufacturer respondents tend to be a bit more optimistic — 83.6 percent see sales gains and 16.4 percent predict flat sales. Manufacturer respondents don't predict a decrease in sales.

But many economists and some PTDA members fear a potential perfect storm"could slam the U.S. economy sometime in 2008 then fully impact industrial distribution and many manufacturing ...

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Weyerhaeuser Agrees to Sell iLevel European Unit

Leave a Comment / Finance, Mergers & Acquisitions, Free, Top Distributor Sectors, Building Materials/Construction, News, Subscriber Only / MDM Staff

Weyerhaeuser Company, Federal Way, WA, has agreed to sell its iLevel European engineered wood products operations to Finnforest of Finland, part of the Metsaliitto Group.

The sale includes supply commitments for iLevel's wood products brands in Europe and a diversified customer base composed primarily of wholesale distribution companies, building materials dealers, structural systems suppliers and industrial manufacturers.

This sale will allow iLevel to focus on its core North American residential wood products business,"said Carlos Guilherme, vice president of sales for Weyerhaeuser's iLevel wood products business.

Finnforest supplies building and construction segments, transport vehicle industry, other industrial customers as well as building ...

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Thomas & Betts to Divest Plastic Pipes Business

Leave a Comment / Finance, Mergers & Acquisitions, Free, Top Distributor Sectors, Electrical, News, Subscriber Only / MDM Staff

Thomas &Betts Corp., Memphis, TN, has decided to sell the plastic pipe business acquired with the company's recent purchase of Lamson &Sessions Co.

The company will sell the business, which includes polyvinyl chloride (PVC) and high-density polyethylene (HDPE) conduit, duct and pressure pipe used in construction, industrial, municipal, utility and telecommunications markets sold under the Ameriduct, Pyramid, Lamson Vylon and other brand names. The products generated $230 million in sales for the 12-month period ended Sept. 30, 2007. The operations are headquartered in Cleveland, Ohio.

Thomas &Betts Corporation is a manufacturer of electrical components used in construction, industrial and utility markets. The company is also a producer of commercial heating and ...

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Wholesale Prices Up 6.3% in 2007

Leave a Comment / Economic Trends, Research & Analytics, Free, News, Subscriber Only / MDM Staff

In 2007, wholesale prices moved up 6.3 percent, compared with a 1.1 percent advance in 2006, according to the Bureau of Labor Statistics of the U.S. Department of Labor. The faster rate was attributable to food and energy prices. The index for finiahed energy goods surged 18.4% in 2007, after falling 2 percent a year earlier. Prices for consumer foods jumped 7.4 percent following a 1.7 percent rise in 2006.

Core inflation advanced 2 percent in 2007, the same as in the preceding year.

At the earlier stages of processing, prices received by manufacturers of intermediate goods climbed 6.8 percent in 2007 after moving up 2.8 percent in the prior year, while the crude goods index jumped 20.6 percent following a 4.7-percent decrease in 2006.

Wholesale ...

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Rexel Changes Leadership in U.S.

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Rexel, global distributor of electrical supplies, has made Chris Hartmann the CEO of IESC, the holding company of Rexel's U.S. activities, effective Jan. 21.

He takes over from Dick Waterman, who is retiring but will stay on as an advisor to Rexel and will serve as chairman of the National Association of Electrical Distributors.

Hartmann will oversee the coordination between Gexpro and Rexel Inc, the Group's two commercial banners in the U.S.

Since 2006, Chris Hartmann has served as executive vice president and Chief Operating Office of Thomas &Betts, a manufacturer of electrical products, and president of the manufacturer's electrical division from 2003-2006.

He was president &COO of Affiliated Distributors, and held several management ...

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ERIKS Group Expands in Germany

Leave a Comment / Finance, Mergers & Acquisitions, Free, Top Distributor Sectors, Power Transmission/Motion Control/Fluid Power, News, Subscriber Only / MDM Staff

The ERIKS group has acquired Schmitztechnik GmbH in Mönchengladbach, Germany.

Schmitztechnik GmbH sells and customizes plastics and rubber components. The company had sales of €5.5 million. Schmitztechnik GmbH serves original equipment manufacturers (OEM) as well as the industrial maintenance market (MRO) in food, pharmaceutical, special mechanical engineering and energy.

The acquisition is in line with ERIKS' strategy to expand its activities with new products and to enter new markets.

Schmitztechnik GmbH will be integrated into ERIKS Germany. ...

ERIKS Group Expands in Germany Read More »

WinWholesale Opens Tampa Winnelson

Leave a Comment / Plumbing Products & PVF Distribution, Free, Companies, Top Distributor Sectors, HVACR, News, Subscriber Only / MDM Staff

WinWholesale, Dayton, OH, has opened Tampa Winnelson Company to provide plumbing and mechanical contractors in the Tampa Bay area.

It is the first WinWholesale company in the Tampa Bay area and serves Hillsborough, Pasco, Pinellas and Polk counties.

We look forward to another company opening in the state in the near future as we continue extending our seven industry brands,"said Monte Salsman, WinWholesale COO. The other Winnelson openings since October are in Orlando in central Florida and Vero Beach on the state's east coast.

There are more than 460 WinWholesale locations across the U.S. in addition to more than 100 Noland Company branches, mainly in the southeast U.S. Noland Company is a wholly-owned subsidiary of WinWholesale.

The group ...

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EWS Tool Technologies Buys Command Tooling Systems

Leave a Comment / Finance, Mergers & Acquisitions, Free, Top Distributor Sectors, News, Subscriber Only / MDM Staff

German-based driven and static tools manufacturer EWS Tool Technologies has acquired tool manufacturer Command Tooling Systems LLC, Minneapolis, MN.

Command has 75 employees. Command is a producer of tool holders for milling machine systems and serves the automotive industry, air and space technologies and manufacturing of medical components. Command will continue to offer its current product lines, including standard and custom toolholders, specialty toolholders, and its full line of ThermoLock Shrink-fit products and the URMA modular boring systems and reamers.

Command will significantly expand its global presence" as well, according to a press release.

EWS has worldwide distribution, with facilities in China, Korea and ...

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Arrow Electronics Agrees to Buy Indian Business

Leave a Comment / Finance, Mergers & Acquisitions, Free, Top Distributor Sectors, Electrical, News, Subscriber Only / MDM Staff

Arrow Electronics, Melville, NY, has agreed to acquire the electronic components distribution business of Hynetic Electronics and Shreyanics Electronics in India.

This acquisition will be beneficial to Arrow, with an expanded customer base focusing on the rapidly growing small- and medium-sized market and additional strategic product lines, critical for Arrow to further expand market share in India," said Peter Kong, president of Arrow Asia Pacific.

Arrow is a global supplier of products and services to industrial and commercial users of electronic components and computer products. It has 260 locations in 55 countries and territories. ...

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Schneider Electric to Acquire IMS

Leave a Comment / Finance, Mergers & Acquisitions, Free, Top Distributor Sectors, Electrical, News, Subscriber Only / MDM Staff

Schneider Electric has agreed to acquire IMS, a U.S. company that designs and manufactures integrated motor and drive products with revenues around $20 million in 2007.
With this acquisition, Schneider Electric strengthens its presence in general motion control through the fast-growing integrated motor and drive market.

With this acquisition, we will expand our product offering for OEM customers in the U.S. while providing increased technical support in motion applications," said Michel Crochon, executive vice president of the Automation Business Unit at Schneider.

IMS's product are used in robotics, medical, assembly, semiconductor, packaging, engraving and pick-and-place.

Schneider Electric has operations in 190 countries with sales of ...

Schneider Electric to Acquire IMS Read More »

Valley National Gases Buys Wolfenden

Leave a Comment / Finance, Mergers & Acquisitions, Free, Gases & Welding Equipment, Top Distributor Sectors, News, Subscriber Only / MDM Staff

Valley National Gases, LLC, Washington, PA, has acquired Wolfenden Industries, a distributor of industrial, medical and special gases with three operating locations in Northeast Ohio.

Wolfenden has sales of $43 million.

Valley National Gases is committed to continuing our strategy of growth through selective, high-quality acquisitions in regions that complement our operations," said Michael Ziegler, CEO of Valley National.

The acquisition of Wolfenden is Valley National's fourth since CI Capital Partners (formerly Caxton-Iseman Capital) acquired the company in February 2007.

Valley National Gases operates 92 locations in 18 states, with 10 production and distribution centers in the eastern ...

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Columbus McKinnon Considers Sale of Univeyor Business

Leave a Comment / Free, Top Distributor Sectors, News, Subscriber Only / MDM Staff

Columbus McKinnon Corp., Amherst, NY, manufacturer of material handling products, is considering strategic alternatives, including selling, for its Univeyor business. The company is in the process of selecting a financial advisor to lead the initiative.

Univeyor, part of the company's Solutions segment, is a producer and supplier of standard and custom-designed products and systems for integrated material handling and logistics applications.

For the 12 months ended Sept. 30, 2007, the company had sales of $30.1 million, representing 58.4% of the Solutions segment total and 5% of the company's consolidated sales.

Univeyor, based in Arden, Denmark, primarily sells direct to end-users.

Columbus McKinnon's key products include hoists, ...

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Lewis-Goetz Taps New President/CEO

Leave a Comment / Free, Strategy, Management, Top Distributor Sectors, News, Subscriber Only / MDM Staff

Industrial distributor Lewis-Goetz and Company, Inc., Pittsburgh, PA, has named Jeffrey T. Crane as president and CEO. Crane has served as the company's president since May 2006.

David R. Goetz, Sr., formerly chairman and CEO, will remain as chairman of the company. Goetz, who turns 63 this month, will continue to drive the organization's acquisition activities and remain active with major customers and suppliers.

Lewis-Goetz is a distributor of industrial rubber products, including industrial, hydraulic and metal hose; conveyor belts; gaskets and seals; and related accessories and services. Lewis-Goetz operates from 60 locations throughout the U.S. and ...

Lewis-Goetz Taps New President/CEO Read More »

January 2008

Report: Dollar Decline Hurting Canadian Manufacturing

Thomas & Betts Buys Homac Manufacturing

Industrial Production Unchanged in December

Parker Hannifin Sales Grow 12.7% in 2Q

PT/MC Sales Drop 5.9% in November

Sperian Protection Sales Up 6.5% in 2007

Veyance Forms Joint Venture in China

PTDA Survey: Distributors, Manufacturers Expect Growth in ’08

Weyerhaeuser Agrees to Sell iLevel European Unit

Thomas & Betts to Divest Plastic Pipes Business

Wholesale Prices Up 6.3% in 2007

Rexel Changes Leadership in U.S.

ERIKS Group Expands in Germany

WinWholesale Opens Tampa Winnelson

EWS Tool Technologies Buys Command Tooling Systems

Arrow Electronics Agrees to Buy Indian Business

Schneider Electric to Acquire IMS

Valley National Gases Buys Wolfenden

Columbus McKinnon Considers Sale of Univeyor Business

Lewis-Goetz Taps New President/CEO

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