June 16, 2008 - Modern Distribution Management

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June 16, 2008

Sandvik Acquires Minority Interest in UT-based Manufacturer

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

Swedish manufacturer Sandvik Group's Tooling unit has agreed to buy 49% of Precorp Inc., Spanish Fork, UT.
 
Precorp is a developer, producer and supplier of polycrystalline diamond (PCD) and cemented-carbide tools for machining of advanced composite materials as well as many other materials used by the aerospace and automotive industries. In 2007, Precorp had sales of SEK 140M (US$23 million), with 140 employees.
 
Sandvik is a global industrial group producing tools for metal cutting, machinery and tools for rock excavation, stainless materials, special alloys, metallic and ceramic resistance materials as well as process systems. The group is in 130 countries.
 
Sandvik Tooling is a business area within the Sandvik Group focused on tools and tooling ...

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William Sanford Steps Down from Post at Interline

Leave a Comment / Free, Companies, Strategy, Management, Top Distributor Sectors, Facilities Maintenance (MRO), News, Subscriber Only /

William Sanford, president and COO of Interline Brands, Inc., Jacksonville, FL, will step down from his positions immediately.
 
Sanford told the distributor and direct marketer of maintenance, repair and operations products that he will be moving to Philadelphia, PA, to spend more time with family.
 
The company will not immediately fill his position.
 
It has been a pleasure working closely with Mike Grebe and the outstanding management team of Interline Brands over the last 10 years," Sanford said.
 
"However, I have decided that commuting between Philadelphia and Jacksonville would require more flexibility to control my calendar, a luxury that is not possible given my current responsibilities as Chief Operating Officer. This was an ...

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Illinois Tool Works Sales Grow in Latest Quarter

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

Illinois Tool Works Inc., Glenview, IL, reported operating revenue was up 11.2% for the three months ended May 31, 2008. Growth in revenues was largely due to contributions from translation and acquisitions.
 
On a segment basis, the Company's three month moving average percentage change for operating revenues, comprised of base revenues, acquisitions/divestitures and currency translation, is provided below:
 
Industrial Packaging +15.2 %
Power Systems and Electronics +11 %
Transportation +9.8 %
Construction Products + 6.3 %
Food Equipment +17.5 %
Polymers and Fluids +26 %
Decorative Surfaces + 4.6 %
All Other + 8.0 %
 
With $16.2 billion in revenues, ITW is a diversified manufacturer of highly engineered components and industrial ...

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