May 13, 2009 - Modern Distribution Management

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May 13, 2009

Rexel 1Q Sales Up 11.7%

Paris-based electrical distributor Rexel reported first quarter sales of €2.8 billion (US$3.8 billion), an increase of 11.7% over the prior year. The acquisition of Hagemeyer in 2008 accounts for most of the sales growth. On a constant and same-day basis, sales were down 15.4%.
Profit fell to €0.9 million, compared with €62.5 million in the first quarter of 2008. Costs associated with restructuring resulted in a charge of €30.4 million.
 Rexel's underlying profitability remains sound although it was more severely impacted by the economic downturn in the quarter than at the end of 2008, CEO Jean-Charles Pauze said. "In the face of a deteriorating environment, Rexel is reinforcing its cost-adjustment program, ...

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Transportation & Logistics Deals Fall Off In 1Q

Deal activity dropped significantly during first quarter 2009 in the global transportation and logistics industry, according to PricewaterhouseCoopers LLP's Intersections: First-quarter 2009 mergers and acquisitions analysis. During the first quarter, 18 deals were announced at a disclosed value of at least $50 million each, marking a serious slowdown from fourth quarter 2008, when 43 such deals were announced. 
Activity continued to increase among non-U.S. parties during first quarter 2009. Foreign entities made up 94% of deal volume for T&L targets in the quarter, up from 71% in 2007 and 81% in 2008. Only one U.S. entity announced a deal during first quarter 2009.
Average deal values declined significantly, from $513 million in 2008 ...

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Report: Industrial Manufacturing M&A Remains At Near-Stop

Mergers and acquisitions in the global industrial manufacturing industry showed little improvement during first quarter 2009, according to the PricewaterhouseCoopers LLP report Assembling Value: First-quarter 2009 Mergers and Acquisitions Analysis.
The pace of deal activity (measured by the number of deals with a disclosed value of at least $50 million) remained at a near stop during the first quarter, with only 13 deal announcements, a fraction of the 43 deals announced in first quarter 2008; 45 in first quarter 2007; and 38 in first quarter 2006. The first quarter's deal activity did register a slight improvement, however, over the 11 deals announced in fourth quarter 2008.
Total deal value declined 80% from the same time last year, with only $1.6 billion ...

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