August 11, 2008

SYSCO Sales Up 7.1% in Fiscal 2008

Leave a Comment / Top Distributor Sectors, Subscriber Only, News, Grocery & Foodservice Distribution, Free, Companies / MDM Staff

SYSCO Corp., Houston, TX, reported sales increased 7.1% in fiscal 2008 to $37.5 billion. Food cost inflation, as estimated by the change in cost in goods, was 6%.

Operating income for 2008 grew 10% over the prior year.

For the fourth quarter 2008, sales were up 5.4% to $9.7 billion. Operating income was up 9.7% to $559 million. Fourth-quarter profit was up to $334 million from $303 million in the prior-year period. Food cost inflation for the period was 6.2%.

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Illinois Tool Works to Divest Two Businesses

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

Illinois Tool Works Inc., Glenview, IL, announced that its board of directors has authorized a plan to divest its Decorative Surfaces segment consisting of the Wilsonart and related laminate businesses and the Click Commerce industrial software business.

Wilsonart was acquired in 1999 by ITW as part of the Premark International transaction. In 2007, the decorative surfaces segment had revenues of $1.2 billion. Wilsonart manufactures and distributes custom construction products for commercial, residential and renovation applications. Products include decorative laminate, solid surface, flooring, decorative materials, adhesives and custom edges. The group has 16 business units worldwide with the majority of revenues based in North America.

International ...

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June Machine Tool Consumption Level with May

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

June U.S. manufacturing technology consumption totaled $360.43 million, according to the Association For Manufacturing Technology and the American Machine Tool Distributors'Association. This total, as reported by companies participating in the USMTC program, was level with May, and up 2% from the total of $353.40 million reported for June 2007. With a year-to-date total of $2,318.34 million, 2008 is up 15.3% 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.

I think everyone is excited that the underpinning for productivity in our economic growth -manufacturing technology equipment -continues to grow at double-digit rates through the second quarter,"said ...

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Lawson Products Agrees to Settlement in Kickback Scheme

Leave a Comment / Subscriber Only, Sales & Marketing, Operations, News, Legal Issues in Wholesale Distribution, Free, Companies / MDM Staff

Lawson Products, Inc., Des Plaines, IL, has agreed to pay $30 million in forfeiture and restitution in the case of sales agents who according to the government systematically provided nearly $10 million in illegal incentives to government employees to buy more products at higher prices for their employers.

The agreement brings to a close the government's investigation of Lawson's former customer loyalty programs. The agreement stipulates that a criminal case of mail fraud against the company will be dismissed in three years as long as Lawson abides by all terms and conditions," according to the U.S. Attorney's Office for the Northern District of Illinois.

"We are pleased to have reached this agreement with the U.S. Attorney's Office, which enables us all to move ...

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August 11, 2008

SYSCO Sales Up 7.1% in Fiscal 2008

Illinois Tool Works to Divest Two Businesses

June Machine Tool Consumption Level with May

Lawson Products Agrees to Settlement in Kickback Scheme

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