March 9, 2009

A. M. Castle 2008 Sales Up 5.7%

Leave a Comment / Top Distributor Sectors, Subscriber Only, News, Free, Chemicals & Plastics Distribution / MDM Staff

A. M. Castle & Co., Franklin Park, IL, a global distributor of specialty metal and plastic products, reported sales for 2008 were $1.5 billion, an increase of 5.7% over 2007. A loss of $17.1 million was recorded for the year, compared to net earnings of $51.2 the prior year.

For the fourth quarter, sales were $321.5 million, comparable to the $322.1 million in the fourth quarter of 2007. The distributor reported a fourth quarter loss of $53.6 million, as compared to a profit of $6.7 million in the prior year quarter.

In 2008, we made progress on our key initiatives that we believe are vital to the long-term growth and profitability of the Company. Our focus on continued global expansion through the acquisition of Metals UK Group and the opening of ...

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Atlas Copco Buys Business From Aggreko

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

Swedish manufacturer Atlas Copco has completed acquisition of Aggreko plc's European oil-free air compressor rental business. About half of the assets acquired were consolidated as of Nov. 20, 2008.

The acquired business had revenues in 2008 of about MEUR 10 (US$12.7 million) and 21 employees and has been integrated into Atlas Copco's Specialty Rental ...

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Milacron To Be Sold To Investors

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

Batavia, OH-based Milacron Inc., a global supplier of plastics-processing technologies and industrial fluids, has reached an agreement to sell the company to investors. The agreement with Avenue Capital Group and DDJ Capital Management LLC, who jointly own 78% of the company's 111/2% Senior Notes, is intended to permit Milacron to continue operations with substantially less debt.

Milacron also voluntarily filed for Chapter 11 bankruptcy protection in order to implement the restructuring while continuing global operations. Despite aggressive cost reduction and ongoing capacity rationalization over the past several years, the ongoing credit crisis and deteriorating global economic conditions have severely reduced sales. The filings include Milacron's Canadian and ...

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Suppliers to Automakers May Need Help, Too

Leave a Comment / Top Distributor Sectors, Subscriber Only, Strategy, Research & Analytics, Free, Economic Trends / Jenel Stelton-Holtmeier

We've been hearing the news for month: the U.S. Big Three automakers are in trouble. Suppliers to the automakers are also struggling.

According to a recent article at Forbes.com, even if the government bailouts succeed in heading off failure for Chrysler, GM and even Ford (though it says it doesn't need any bailout money yet), the industry may fail "from the bottom up" if suppliers don't receive help as well.

The author writes:
"With credit markets all but frozen, bankrupt suppliers wouldn't be likely to obtain debtor-in-possession financing to stay in business during bankruptcy reorganization. Instead, many would be forced to liquidate. That would put the carmakers in a jam, because they can't easily get the missing parts from ...

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DXP 4Q Same-Store Sales Climb 3.8%

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

DXP Enterprises, Inc., Houston, TX, reported sales for the fourth quarter ended Dec. 31, 2008, were $193.6 million, up 14.7% over fourth quarter 2007. Profit increased 22.8% to $7 million.

Excluding fourth quarter 2008 sales of $18.4 million from businesses acquired in 2007 and 2008, sales for the 2008 fourth quarter increased 3.8% from the 2007 fourth quarter.

For the full year 2008, sales improved 65.8% to $736.9 million. Profit was $25.9 million, an increase of 49.7% over 2007.

Our goal today is to create opportunities caused by a contracting economy by gaining market share at the expense of our competitors. It is easier to perform when times are good but I look forward to our ability to succeed in these challenging times, CEO David ...

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January Wholesale Revenues Fall 2.9%

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

January 2009 sales of wholesalers were down 2.9% from December to $326.1 billion, and down 15.4% from January 2008. January sales of durable goods were down 6.5% from last month and down 17.3% from a year ago.

Compared to last month, sales of metals and minerals, except petroleum, were down 15.3% and sales of machinery, equipment, and supplies were down 10.8%. Sales of nondurable goods were up 0.3% from last month, but were down 13.7 percent from last year. Sales of chemicals and allied products were down 4.9% from last month, while sales of drugs and druggists' sundries were up 2.1%.

Inventories fell 0.7% from December but were up 1% from a year ago. End-of-month inventories of durable goods were down 1.3% but were up 4% from last January. ...

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March 9, 2009

A. M. Castle 2008 Sales Up 5.7%

Atlas Copco Buys Business From Aggreko

Milacron To Be Sold To Investors

Suppliers to Automakers May Need Help, Too

DXP 4Q Same-Store Sales Climb 3.8%

January Wholesale Revenues Fall 2.9%

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