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In The News:

MDM News Digest 3508

Hydraulics LLC, New
Orleans, LA, has acquired Tex-A-Draulics, L.P., Houston, TX.
Hydradyne Hydraulics, an ISO 9001:2000 certified company, operates 16 branch
locations in the southeastern U.S. The combination of these two companies
produces the largest Parker Industrial, Mobile, and Truck Technology Center in
the U.S., with combined revenues above $85 million. Hydradyne specializes in
sales, service, and repair of hydraulic systems and components. Tex-A-Draulics
has served the Texas Gulf Coast for 25 years and gives Hydradyne a
well-established business estimated at $20 million in Texas. They recently
expanded to cover the entire state of Texas for Mobile Hydraulic Products. They
also took on the Parker Hose line across all locations recently. See article here.

Stock Building
Supply, Raleigh, NC,
the $3.6-billion supplier of building materials to professionals in the U.S.,
has acquired Davidson Industries, Indianapolis, IN. The Davidson
acquisition will provide SBS entry into the Indianapolis market, the
17th largest U.S. metropolitan area. Davidson,
with annual sales of $65 million, brings 327 associates to Stock. Established as
Southport Lumber Co. in 1925, the company changed its name to Davidson
Industries in 1970. See article here.

February U.S. machine tool
consumption, at
$242.10 million, was up 13.5% from January and up 37.9% from $175.52 million
reported for February 2004, according to the Association For Manufacturing
Technology and the American Machine Tool Distributors' Association. With a
year-to-date total of $455.48 million, 2005 was up 28.3% compared with 2004.
"Historically, when February results outpace January, machine tool orders are in
an acceleration mode," said John B. Byrd III, AMT president. "That is why I
believe our industry, and manufacturing overall, will see continued growth in
2005." See article here.

Applied Industrial
Cleveland, OH, reported net sales for the quarter ended Mar. 31, 2005 were
$446.5 million, up 14.2% compared with $391.1 million in the same period a year
ago. Net income for the quarter increased 54% to $16.3 million from $10.6
million last year. For the nine months ended Mar. 31, 2005, sales increased
13.7% to $1,263.7 million from $1,111.9 million in the same period last year.
Net income for the period increased 91% to $39.4 million, versus $20.6 million
last year. See article here.

Brands, Inc.,
Jacksonville, FL, a distributor and direct marketer of maintenance, repair and
operations products, reported sales for the fiscal year ended Dec. 31, 2004 were
$743.9 million, a 16.2% increase over sales of $640.1 million for the fiscal
year ended December 26, 2003. Operating income for 2004 was $61.5 million
including $9.2 million in IPO-related expenses in the fourth quarter. Fourth
quarter sales were $195.5 million, a 23.0% increase over sales of $158.9 million
in the comparable 2003 period. The fourth quarter of 2004 included 4 more
shipping days than the prior year period, and also included a full quarter of
revenues attributable to Florida Lighting, Inc., acquired in November 2003.

Grainger, Chicago, IL,
reported sales were $1.3 billion for the first quarter ended Mar. 31, 2005, up 9
percent over the prior year's first quarter. Net earnings were up 16 percent to
$72.8 million. Sales in the Branch-based Distribution segment were up 9 percent
in the 2005 first

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