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In The News:

MDM News Digest 4014

Grainger, Chicago, IL, No. 3 on the MDM's top 40 industrial distributors, reported sales for the second quarter were $1.78 billion, an increase of 16 percent versus second quarter 2009. Profit increased 40 percent to $129 million. For the first six months, sales were $3.46 billion, up 21.3 percent over the prior year period. Profit also increased 21.3 percent to $229.1 million. More

Genuine Parts Company, Atlanta, GA, reported sales for the second quarter ended June 30, 2010, were $2.8 billion, up 12 percent from the second quarter 2009. Profit was $124.5 million, up 20 percent. By segment, sales for industrial distributor Motion Industries were up 26 percent for the quarter. EIS, the electrical group, had a sales increase of 32 percent. The Automotive Group's sales went up 7 percent. S.P. Richards, the Office Products Group, ended the quarter down 1 percent. More

The Fastenal Company, Winona, MN, reported second-quarter sales of $571.2 million, an increase of 20.3 percent over the same period a year ago. Profit improved 58.9 percent to $69.2 million. More

Air Products, Lehigh Valley, PA, has increased its offer to purchase the outstanding shares of Radnor, PA-based Airgas, Inc. to $63.50 per share in cash, an increase of $3.50 per share over its initial offer of $60 per share and an increase of $1.50 over the last offer. The revised offer represents a 46 percent premium. The Airgas Board of Directors responded to the new offer, saying it "will review the revised tender offer to determine the course of action that it believes is in the best interests of the Company and its stockholders. Airgas stockholders are advised to take no action at this time pending the review of the revised offer." More

U.K.-based Travis Perkins has agreed to buy The BSS Group, a distributor to specialist trades including HVAC and plumbing, for £557.6 million (US$846.5 million). The acquisition will create the largest plumbing and heating trade and retail distribution business and the largest building materials dealer in the U.K. More

WinWholesale Inc., Dayton, OH, has opened Windustrial brand companies in Pennsylvania and New Jersey to provide contractors with a complete line of pipe, valves, fittings and fire protection equipment. The New Jersey location is the first Win company in the state. More

US LBM Holdings subsidiary East Haven Builders Supply, East Haven, CT, has acquired Millwood Lumber according to ProSales magazine. The full-service lumber yard has one location, serving the New York metro area and Westchester and Fairfield counties. More

Border States Electric, Fargo, ND, No. 9 on MDM's top 25 electrical distributors, sold its Juarez, Mexico, branch to ABSA del Norte, S.A. de C.V. and exited the Mexico market. The sale was completed on June 30, 2010. ABSA is an electrical distributor headquartered in Mexico with an existing branch in Juarez. In 2002, BSE sold its Chihuahua, Mexico, branch to this same company. More

United Stationers Supply Co., Deerfield, IL, has created a Shared Services (SS) Transportation and Logistics Group that will centralize transportation services for the company's United Stationers Supply, LagasseSweet, and ORS Nasco subsidiaries. More

The Timken Company, Canton, OH, has agreed to acquire QM Bearings and Power Transmission, Inc., Ferndale, WA. QM manufactures spherical roller bearing steel housed units and elastomeric and steel couplings used in demanding processes such as sawmill and logging operations. More

Dallas, TX-based Flowserve Corp., a manufacturer of fluid motion and control products, has acquired Valbart Srl, a privately owned Italian manufacturer of trunnion-mounted ball valves used primarily in the oil and gas industry. More

Atlas Copco, Stockholm, Sweden, reported second quarter sales of SEK 17.4 billion (US$2.35 billion), an increase of 8 percent over the prior year. Sales increased organically 9 percent. Profit for the period was SEK 2.52 billion (US$343 million), up 72 percent. More

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