The 2020 Mid-Year Economic Update_long

Day: July 2, 2009

Hagemeyer North America Launches Latest Green Catalog

Hagemeyer North America has launched its 2009-2010 Green Book:Sustainable Solutions. The catalog contains 220 pages with 1,500 products and solutions from more than 60 Hagemeyer supplier partners. This is the second year Hagemeyer has offered a catalog dedicated to sustainable products.

"We take economic, social, ethical and environmental issues very seriously," says Brad Pulver, Hagemeyer North America senior vice president, Product Strategy & Marketing. "We believe it's our responsibility not only to combine common sense with keen business sense for a sustainable approach to business, but to serve as a solutions-provider for our customers who are eager to do the same."

Hagemeyer's Green Book is divided into six sections: Energy Management, Test & Measure, Building Products, Water ...

Zep 3Q Sales Decline 15.3%

Zep Inc., Atlanta, GA, a producer, marketer, and service provider of cleaning and maintenance solutions, reported sales of $123 million for the third quarter ended May 31, 2009, down 15.3% from the prior year. Profit improved to $5.4 million from $168,000 for third quarter of fiscal year 2008; third quarter 2008's results included restructuring and special charges of $5.9 million.

For this first nine months, sales were $366.7 million, down 13.1%. Profit declined 65.1% to $2.9 million.

Weak customer demand across a number of end-markets and high raw material costs negatively impacted the overall results.

"However, our restructuring and cost reduction measures have gained additional traction, and our third quarter gross profit margin exceeded that of the second quarter by 2.7 ...

MSC Industrial Direct Sales Down 23.3% In 3Q

MSC Industrial Direct Co., Inc., Melville, NY, a distributor of metalworking and maintenance, repair and operations supplies to industrial customers throughout the U.S., reported sales of $350.5 million for the third quarter ended May 30, 2009, a decrease of 23.3% from the prior year. Profit declined 45.9% to $27.8 million.

For the first nine months of fiscal 2009, sales were $1.135 billion, down 14.7% from the first nine months of fiscal 2008. Profit fell 32% to $99.1 million.

"While our performance in the fiscal third quarter was better than anticipated, visibility remains limited as we continue to operate in one of the most severe economic downturns our industry has ever experienced. Feedback from our customers indicates that market conditions have remained weak without any ...