• About MDM
  • Cart
  • Terms & Conditions
  • Privacy Policy
  • Cookies Statement
  • News
    • Premium Articles
    • Latest
    • Technology & Digital
    • Mergers & Acquisitions
    • Talent Development
  • Resources
    • Store
      • Market/Economic Data
      • Management
      • Economic Benchmarks for Wholesale Distribution
      • Sales & Marketing
      • Special Reports
      • What Customers Want
    • Conferences
    • Webcasts
    • Podcasts
    • Directories
      • Associations
      • Buying and Marketing Groups
      • Investment Bank Guide for Distributors
    • Free Reports
    • Partners
  • Research
    • 2019 Market Leaders lists
    • MDM Analytics
    • Economic Benchmarks
    • Industry Competitive Landscape
    • White Papers
  • Subscribe
    • MDM Daily Update
    • MDM Premium
    • Podcasts
  • Premium
    • Download The Issue
    • Subscription Renewal
  • Sign In
  • Sign Out
  • My Account
Home » MDM News Digest

MDM News Digest

January 10, 2002
No Comments
Industrial Distribution Group, Atlanta, GA, has gone through its share of turbulence ' almost since its beginning in 1997 when the company was formed through the roll-up of nine general-line industrial distribution companies. This MDM interview with IDG president and CEO Andrew Shearer outlines the company's restructuring effort. Full story.


Airgas, Inc., Radnor, PA, and Air Products and Chemicals, Inc., Allentown, PA, announced an agreement for Airgas to purchase the majority of Air Products' U.S. packaged gas business, excluding its electronic gases and magnetic resonance imaging-related helium operations. Separately, Air Products would sell its packaged gas operations in the Carolinas and southern Virginia to National Welders Supply Company.


The value of the transactions to Air Products would be $270 million, including $236 million in cash from Airgas, the proceeds from the transaction with National Welders, and the accounts receivable to be retained by Air Products. The assets to be acquired generated about $223 million in revenues in fiscal year 2001, and employ approximately 1,100 people. Approximately 76 percent of the revenues would be from gas sales and cylinder rent, with the remainder from welding hardgoods and supplies. The added revenue would increase the overall Airgas business mix to 52 percent gas and rent.Full story.


OneSource Distributors, San Diego, CA, has signed a letter of intent to acquire the assets of Argo Electric Supply Company and Pacific Parts & Controls, Inc., Chino, CA. Argo Electric and Pacific Parts & Controls, with revenues of $14 million for fiscal 2001, are owned and operated by Frank Renek; both will become part of OneSource Distributors at the end of February. Full story.


Precision Industries, Omaha, NE, recently acquired certain assets of Bobker Bearing, Carlstadt, NJ, out of Chapter 11 reorganization. Bobker, founded in 1931, has been a distributor of bearings, power transmission and fluid power components with ten locations throughout the Eastern U.S. from Virginia to Massachusetts, with more than 100 employees. Under this agreement, the divisions of Bobker, Bobker Export Group, Eifler Electric and Biglow Industrial are included in the acquisition. Full story.


MRO Software, Inc., Bedford, MA, a provider of e-Business solutions for asset-intensive companies, has responded to a refusal by Datastream Systems, Inc., Greenville, SC, to enter into discussions regarding MRO Software's Dec. 20 acquisition proposal. In a letter sent Jan. 9, MRO Software urged Datastream's management and board to open negotiations, and also left open the option of going directly to the company's shareholders concerning a takeover of the company. Full story.


SKF, G'teborg, Sweden, has acquired Magnetic Group, Liestal, Switzerland, a manufacturer of electromechanical actuators, motors, telescopic drives, control units as well as complete actuation systems. With the addition of Magnetic's product range, SKF Actuators (a business area within SKF Linear Motion & Precision Technologies) is reinforcing its position in the fast growing market for electromechanical actuators, linear drives and actuation systems. Full story.


Mixed signals: Economic activity in the manufacturing sector declined for the 17th consecutive month in December, while the overall economy grew for the second consecutive month, according to the Institute for Supply Management. Full story.


Parker Hannifin Corporation, Cleveland, OH, reported orders for the

  • Related Articles

    MDM News Digest

    MDM News Digest

    MDM News Digest

Previous 1 2 3 Next

Post a comment to this article

Report Abusive Comment

Popular Stories

  • Distributors are About to Get Commoditized

  • Distributors Struggle with Online Pricing

  • Finding Your ‘Why It Matters’

  • Convenience Will Deliver Sales and Loyalty

  • What are College Seniors Looking for as They Enter the Distribution Field?

Subscribe to MDM Update Newsletter

Your best source for news and trends in the wholesale distribution industry

Join Today
  • ABOUT MDM
    • About
    • Terms and Conditions
    • Authors
  • HELP
    • My Account
    • Login Help/ Password Reset
    • Research
    • Privacy & Data Act

CONTACT
6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060 
Toll free (888) 742-5060

 

Copyright ©2019. All Rights Reserved

  • Privacy Policy
  • Terms and Conditions