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April sales trends: Parker Hannifin Corporation, Cleveland, OH, reported orders for the month of April in the North American Industrial businesses increased 25% over the same month last year, while Rest-of- World Industrial orders also increased 25%. In the Climate and Industrial Controls business, order rates were 8% higher, and orders at Parker Aerospace were 14% higher compared with last year.
W.W. Grainger's daily sales rate for April was up 6% overall from April 2003. Daily sales at branch business were up 6%; Lab Safety Supply up 12%, integrated supply up 4%. Daily sales through grainger.com were up 29% over April 2003.
Fastenal Company's daily sales rate for April was up 22% over April 2003. Stores older than years reported April daily sales rate of 16.4%. The company opened stores in April, 55 year to date. Number of employees are up 5.6% from April last year to 7,164.
March U.S. machine tool consumption totaled $272.34 million, according to the American Machine Tool Distributors' Association and the Association For Manufacturing Technology. This total, as reported by companies participating in the USMTC program, was up 60.5% from February and up 56.2% from the total of $174.38 million reported for March 2003. With a year to-date total of $609.50 million, 2004 is up 44.4% compared with 2003. See article on p. 6.
The Home Depot, Atlanta, GA, has entered into an agreement to acquire White Cap Construction Supply, Inc., Costa Mesa, CA, a $500-million distributor of specialty hardware, tools and materials targeting large- and medium-sized construction contractors. It expands on the $64-billion retailer's strategy to expand its professional customer market base. White Cap will become part of The Home Depot Supply division. See article p. 5.
Hughes Supply, Inc. has acquired Standard Wholesale Supply Company, a $73-million distributor of waterworks, electrical and plumbing products serving the Las Vegas, NV area. The transaction closed on May 3 and is expected to be immediately accretive to earnings. Standard Wholesale Supply is majority owned by its president, Gary Crowe, whose father founded the company in 1939. See article p. 12.
US Bearings and Drives, the Vancouver, WA. based division of The BC Bearing Group, Burnaby, BC, Canada, has agreed to acquire the assets of Bearings & Drives, Inc., Fargo, ND, a bearing and power transmission supply company. Bearings & Drives, Inc., which has been in business for 29 years, operates six branches located in North Dakota and Minnesota. See article on next page.
Milacron Inc., Cincinnati, OH, has sold its Cimform grinding wheel business to the North American arm of Tyrolit Schleifmittelwerke Swarovski, the European manufacturer of bonded abrasives and abrasive and diamond tools for industry and construction. See article on next page.
Hagemeyer Canada Inc., Edmonton, Alberta, operating as