MDM News Digest 4008 - Modern Distribution Management

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MDM News Digest 4008

News briefs from April 11 - 25, 2010.
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Chicago-based Grainger reported first-quarter sales of $1.7 billion, up 14 percent from the prior year period. Profit was up 3 percent to $99 million. More

HD Supply, Atlanta, GA, reported sales for the fiscal year ended Jan. 31, 2010, were $7.4 billion, down 24 percent from a year ago. The company recorded a loss of $514 million, compared to the prior year loss of $1.3 billion. More

HD Supply Facilities Maintenance, San Diego, CA, a distributor of maintenance products and operating supplies to the multifamily, hospitality and healthcare industries, has released its 2010 Catalog containing with 4,000 new products. The catalog contains 22,000 stocked maintenance, repair and operating products. More

The Fastenal Company (Nasdaq: FAST), Winona, MN, reported sales for the first quarter ended March 31 were $520.8 million, an increase of 6.4 percent from first quarter 2009. Profit improved 15.1 percent to $56.0 million. More

R/W Connection, Inc., Roanoke, VA, a wholly owned subsidiary of Singer Equities, purchased the operating assets of Virginia Carolina Belting, mid-Atlantic industrial rubber products distributor specializing in the sale, fabrication, and installation of conveyor belting and systems. More

Beacon Roofing Supply, Inc. (Nasdaq: BECN), Peabody, MA, has acquired Louisiana Roofing Supply, a distributor of mostly residential roofing systems and related accessories with one location in Baton Rouge, LA, and sales of approximately $8 million in 2009. More

Beacon Roofing Supply, Inc. (Nasdaq: BECN), Peabody, MA, has also acquired Phoenix Sales, Inc., a distributor of commercial roofing systems and related accessories with four branches located in Tampa, Orlando, Pompano and Ft. Myers, FL. Phoenix had sales of approximately $20 million in 2009. More

Watsco, Inc. (NYSE:WSO), Coconut Grove, FL, announced its business unit, East Coast Metal Distributors, Durham, NC, completed the acquisition of The Bill Voorhees Company, Nashville, TN. Bill Voorhees has two locations and revenues in 2009 of $14 million and sells HVAC equipment manufactured by Goodman Manufacturing. More

Huttig Building Products (HBPI.PK), St. Louis, MO, reported sales for first quarter 2010 were $103.5 million, a 3.5 percent increase over first quarter 2009. The building materials distributor recorded a loss of $5.8 million, compared to a year-ago loss of $14.3 million. More

Noland Company, Dayton, OH, has opened its first location in Louisiana to distribute HVAC and refrigeration equipment. The new operation, located in Baton Rouge, provides commercial and residential contractors with equipment and supplies in a seven-parish area. More

Parker Hannifin Corp. (NYSE: PH), Cleveland, OH, diversified manufacturer in motion and control technologies, reported sales for the fiscal 2010 third quarter ended March 31, 2010, were $2.6 billion, an increase of 11 percent from the second quarter and an increase of 11.5 percent from the third quarter a year ago. More

Diversified industrial manufacturer Eaton Corp (NYSE: ETN), Cleveland, OH, reported first quarter sales of $3.1 billion, an increase of 10 percent over sales a year ago. Profit was $155 million, compared to a loss of $50 million in first quarter 2009. Organic sales increased 5 percent. More

Industrial production edged up 0.1 percent in March and increased at an annual rate of 7.8 percent in the first quarter. Manufacturing output rose 0.9 percent in March, led by widespread gains among durable goods industries. Factory production was likely held down in February by the winter storms but nonetheless rose at an annual rate of 6.6 percent for the first quarter as a whole. More

Privately-owned housing starts in March were at a seasonally adjusted annual rate of 626,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development. This is 1.6 percent above the revised February estimate of 616,000 and is 20.2 percent above the March 2009 rate of 521,000. More

February 2010 sales of wholesaler-distributors were $338.7 million, up 0.8 percent from January and up 9.8 percent from February 2009, according to the U.S. Census Bureau. More

February U.S. manufacturing technology consumption totaled $163.96 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 up 28.8 percent from January and up 22.1 percent from the total of $134.34 million reported for February 2009. More

U.S. and Canadian manufacturers’ sales for power transmission/motion control products increased for the second consecutive month in February, with U.S. manufacturers posting an increase of 14.1 percent and Canadian manufacturers’ sales rising by 5.6 percent according to sales data released by the Power Transmission Distributors Association in its Market Outlook Report. More

All three primary indexes for the U.S. from The Conference Board posted gains in February, with the Leading Economic Index (LEI) reaching its highest level since the index was created. The LEI increased 1.4 percent in March, while the Coincident Economic Index (CEI) gained 0.1 percent and the Lagging Economic Index (LAG) increased 0.2 percent. More

Statistics Canada reports investment in non-residential building construction in Canada totaled $10.3 billion in the first quarter, down 0.7 percent from the previous quarter and 5.7 percent below the first quarter of 2009. More

The value of building permits issued in Canada edged down 0.5 percent to $5.7 billion in February, but was 56.7 percent higher than in February 2009, when it was at its lowest level during the economic slowdown, according to Statistics Canada. More

Canadian manufacturing sales edged up 0.1 percent in February to $44.1 billion. Sales have advanced in eight of the past nine months, since the recent low reached in May 2009. Constant dollar manufacturing sales increased 0.3 percent in February. Constant dollar sales have increased for six consecutive months. More

In a preliminary results announcement, Milwaukee, WI-based power transmission and water management manufacturer Rexnord LLC announced sales in the fourth quarter ended March 31, 2010, were $407 million, a 6 percent decrease over the prior-year quarter. More

Stamford, CT-based Crane Co. (NYSE: CR), a diversified manufacturer of highly engineered industrial products, reported sales for the first quarter 2010 were $530.3 million, down 4 percent from the same period a year ago. Profit increased 42.5 percent to $33.2 million. Core sales declined 8 percent. More

Illinois Tool Works Inc. (NYSE: ITW), Glenview, IL, reported 2010 first-quarter sales were $3.6 billion, 14.6 percent higher than the year-ago period. The manufacturer noted that end markets associated with automotive OEM, polymers and fluids, industrial packaging, and the PC board fabrication businesses showed strength in the quarter. More

Bearings manufacturer SKF reported sales were down 2.7 percent in the first quarter 2010 to SEK14.44 billion (US$2.1 billion) from the prior-year period. Profit was SEK1.07 billion (US$149.5 million) for the quarter, an improvement from the prior-year period. More

Myers Industries, Inc. (NYSE: MYE), Akron, OH, reported first quarter sales of $186.4 million, up 2 percent from first quarter 2008. Profit increased 7.8 percent to $5.5 million. More

Snap-on Inc. (NYSE: SNA), Kenosha, WI, reported sales for the first quarter of 2010 were $621.6 million, up 8.6 percent from a year ago. Profit increased 5.7 percent to $36.8 million. Organic sales for the manufacturer of tools, equipment, diagnostics, repair information and systems solutions increased 4.1 percent. More

United Stationers Supply Co., Deerfield, IL, announced it has made a minority investment in NER Data Corp., which recently acquired the Managed Print Services and Technology Solution businesses of NER Data Products. More

General Bearing Corp. (OTC: GNRL.PK), West Nyack, NY, reported 2009 sales of $102.4 million, a decrease of 26.4 percent from 2008. Profit declined 75.6 percent to $1.42 million. More

Zep Inc. (NYSE: ZEP), Atlanta, GA, a producer, marketer, and service provider of a wide range of cleaning and maintenance products, reported sales for the second quarter ended Feb. 28, 2010, were $127.4 million, an increase of 11.1 percent over the same period a year ago. Profit was $0.7 million, compared to a year-ago loss of $0.9 million. More

Distributor cooperatives BLUE HAWK, Embassy Group Ltd., and IMARK Group have announced the formation of the United Cooperative Alliance of America. The newly formed alliance will focus on improving business practices across the verticals. The United Cooperative Alliance of America has put together a board of advisors with two board members from each organization, as well as the three respective presidents or CEOs. More

MSC Industrial Direct Co. Inc.(NYSE: MSM), distributor of metalworking and MRO supplies, reported sales for the fiscal 2010 second quarter ended Feb. 27, 2010, were up 12.4 percent to $395.5 million. Profit was $30.6 million, an increase of 16.6 percent. More

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