July 14, 2008 - Modern Distribution Management

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July 14, 2008

More on Wolseley: Possible Job Cuts

Leave a Comment / Economic Trends, Research & Analytics, Free, Companies, Subscriber Only /

UK-based Wolseley will report on its sales and profits this Wednesday, July 16. (Look for coverage on mdm.com that day.) Wolseley owns Stock Building Supply and Ferguson in North America.
 
Apparently, at that time building materials, plumbing and HVAC distributor Wolseley is also planning to announce more job cuts after already laying off thousands this year. According to at least two top British newspapers -the Financial Times and the Telegraph -the company will shed hundreds of jobs." Of course, it's not news that Wolseley, along with other distributors with exposure to residential markets in the U.S., is struggling and not yet on the road to recovery.
 
The news on Wolseley comes as the UK and other parts of Europe are reportedly seeing major weakness in their ...

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May Machine Tool Consumption Up 17.2% Year-to-Date

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May U.S. manufacturing technology consumption totaled $341.21 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 16.4% from April, but up 2.2% from the total of $333.80 million reported for May 2007. With a year-to-date total of $1,942.37 million, 2008 is up 17.2% compared with 2007.

These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.

The May machine tool consumption numbers again demonstrated continued strength and growth in many markets across the country, except in the automotive sector in the upper Midwest,"said Peter Borden, ...

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ThyssenKrupp Launches ThyssenKrupp Aerospace

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ThyssenKrupp Services has launched ThyssenKrupp Aerospace.
 
The new company incorporates ThyssenKrupp's existing aerospace distribution and supply chain management businesses with Apollo Metals and Aviation Metals, which were acquired earlier this year, and will trade globally under the ThyssenKrupp Aerospace ...

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RSC Buys American Equipment Rentals

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

RSC Equipment Rental, Inc., Scottsdale, AZ, the operating entity for RSC Holdings Inc., an equipment rental provider, has acquired American Equipment Rentals, Providence, RI.
 
Ned Graham, RSC's senior vice president, Operations, said: The American business is a growth platform for us and its addition is consistent with our strategic initiative to grow."
 
American is a provider of aerial equipment, forklifts and other rental equipment serving commercial construction contractors in Providence, RI, Woburn, MA, and New Britain, CT.
 
American has annual sales of about $19 million, of which nearly 90% are rental revenues.
Sellers were FST Equipment, LLC and AER Holding LLC.
 
RSC has a network of 468 rental locations across 38 states in the ...

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Kennametal Taps New Chief for Metalworking Unit

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Kennametal Inc., Latrobe, PA, has tapped a new chief for its Metalworking Solutions Services Group. Paul DeMand will take the position of president for the unit, which comprises about 60% of Kennametal's overall revenues.
 
Before joining Kennametal, DeMand was senior vice president and division head of the Industrial Products Group at Johnson Electric, Ltd., Hong Kong. Before holding that position, he was vice president, Electro-Mechanical at Solectron Corp. in ...

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Canada: Nonresidential Investment Up 0.8% in 2Q

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Source: Statistics Canada
 
Rising construction prices contributed to a 0.9% increase in current dollars in investment in non-residential building construction in Canada in the second quarter of 2008.
 
Canadian investment reached $10.5 billion between April and June as the increase was led by spending on medical facilities and office buildings.
 
However, after taking into account higher construction prices, investment in non-residential construction declined 3.7% in 2002 constant dollars.
 
Investment increased in all three components from the first quarter. In the commercial component, it rose 0.8% to $6.5 billion. In the industrial component, it went up 1.6% ...

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Applied Industrial Agrees to Buy Fluid Power Resource Businesses for $169M

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

Applied Industrial Technologies, Cleveland, OH, has agreed to buy Fluid Power Resource, LLC, businesses.
 
The 19-location acquisition includes distributors Bay Advanced Technologies, Carolina Fluid Components, DTS Fluid Power, FluidTech, Hughes HiTech, Hydro Air, and Power Systems. The businesses together employ 455 people and had 2007 sales of $244 million.
 
The purchase price is $169 million in cash.
 
Each of the businesses will operate as a subsidiary of Applied and will maintain their current local identities. The companies will be led by Warren E. (Bud) Hoffner, who oversees Applied's fluid power business unit. FPR companies distribute pumps, motors, valves, actuators, cylinders, manifolds, hose fittings, connectors, FRL's, gear boxes, ...

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