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In The News:

MDM News Digest 4015

August 10, 2010

The Fastenal Company, Winona, MN, is facing potential litigation by the government, which notified the distributor this month that an audit found it may have overcharged government customers, Fastenal said in its latest quarterly report filed with the SEC. More

Kaman Corp., Bloomfield, CT, reported sales for the second quarter ended July 2, 2010, were $317.1 million, an increase of 8.2 percent over the same period a year ago. Profit decreased 35.3 percent to $6.1 million. For the first six months, sales were $593.9 million, down 1.1 percent versus the prior year period. Profit fell 47.3 percent to $7.8 million. More

United Stationers Inc., Deerfield, IL, announced that Larry D. Davis has been promoted to the position of president, ORS Nasco.

United Stationers Inc. reported sales for the second quarter were $1.22 billion, up 5.3 percent from second quarter 2009. Profit increased 27.4 percent to $27 million. For the first six months, sales were $2.38 billion, up 4.1 percent. Profit increased 30.3 percent to $45.2 million. More

BlueLinx Holdings Inc., Atlanta, GA, has formed a special committee to evaluate a recent takeover offer from Cerberus, ABP Investor LLC. The offer was for $3.40 a share. BlueLinx Holdings Inc. reported sales for the second quarter were $540.8 million, up 27.7 percent. The distributor recorded a net loss of $3.4 million, compared to a year-ago net loss of $0.6 million. More

Applied Industrial Technologies, Cleveland, OH, has acquired UZ Engineered Products, Cleveland, OH. UZ is a distributor of products for maintenance, repair and operational needs. More

Applied Industrial Technologies Ltd., the Canadian subsidiary of Applied Industrial Technologies, Inc., has acquired the business of SCS Supply Group Inc., formerly known as Toronto Bearing & Belting and CBS Equipment. More

WinWholesale, Dayton, OH, has launched the Bath & Kitchen Ideas Centers by Winnelson and Noland, an interactive website for consumers, designers, plumbing contractors, builders and remodelers. More

Amrep, Inc., a wholly owned subsidiary of Zep Inc., Atlanta, GA, has agreed to acquire Waterbury Companies, Inc., a manufacturer of air care delivery systems, for $66 million. More

The value of building permits in Canada totaled $6.6 billion in June, up 6.5 percent from May and a 24.9 percent increase from June 2009. Non-residential permits increased 23.5 percent from May. Residential permits fell 4.5 percent. More

July saw growth of the global manufacturing sector cool further from the post-recession peak reached in April. The JPMorgan Global Manufacturing PMI posted 54.3, its lowest reading in eight months but still consistent with a solid rate of expansion. More

Manufacturing expanded in July, according to the latest Manufacturing ISM report on business. The Purchasing Managers Index was at 55.5, compared with 56.2 in June. More

Construction spending in June 2010 was estimated at a seasonally adjusted annual rate of $836 billion, 0.1 percent above May and 7.9 percent below June 2009, according to the U.S. Census Bureau of the Department of Commerce. During the first six months of the year, construction spending was $389.6 billion, 11.2 percent below the same period in 2009. More

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