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In The News:

MDM News Digest 4018

September 24, 2010

The pace of recovery in the general economy has clearly slowed, but the deceleration is less visible in the manufacturing sector, according to the Manufacturers Alliance/MAPI U.S. Industrial Outlook: Deceleration in the Recovery, a quarterly report that analyzes 27 major industries. More

HD Supply, Atlanta, GA, No. 2 on MDM’s list of top 40 industrial distributors, reported sales for its second quarter ended Aug. 1, 2010, were $2 billion, an increase of $1 million from the second quarter of 2009. The distributor reported a loss in the second quarter of $115 million, compared with $89 million in the same period a year ago. More

Acklands-Grainger Inc., the Canadian subsidiary of Grainger, Chicago, IL, has acquired Solus Securite Inc., Trois Rivieres, Quebec. Solus Securite, a distributor of fire protection and safety equipment, has locations in Trois Rivieres, Victoriaville, Montreal and Sorel. More

A veteran WinWholesale Inc. local operation president has opened Fargo Winnelson Co. in Fargo, ND, to supply plumbing contractors in parts of that state, South Dakota and Minnesota with equipment, parts and accessories. More

Private equity firm Clayton, Dubilier & Rice, LLC has agreed to acquire a 42.5 percent ownership interest in Dutch chemicals distributor Univar. CVC Capital Partners bought the business in 2007. The transaction values the company at $4.2 billion. More

EIS Inc., Atlanta, GA, a wholly-owned subsidiary of Genuine Parts Company, has acquired Seacoast Electric Company Inc. Headquartered in Hawthorne, NY, Seacoast has distribution locations in Virginia, Texas and California, serving the marine and oil and gas markets with shipboard and offshore cables and electrical equipment. Seacoast will operate as a separate division of EIS. More

Airgas shareholders elected three Air Products nominees to the Airgas board of directors, according to preliminary results released by Airgas. The nominations were part of Air Products’ hostile takeover bid for the Radnor, PA-based industrial gases and hardgoods distributor. More

The Timken Company, Canton, OH, has launched a new line of precision cylindrical roller bearings designed to maximize speed, precision and efficiency in high-demand machine tool applications. More 

Chicago-based distributor Grainger, No. 3 on MDM’s list of top 40 industrial distributors, reported sales results for August 2010. Daily sales increased 20 percent versus August 2009. More

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