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The Hite Company, Altoona, PA, will buy six Hagemeyer North America electrical distribution sites in Pennsylvania and West Virginia. The purchase covers Hagemeyer locations in Pittsburgh, Cranberry Township, Castle Shannon, Canonsburg, and Washington, PA; and Morgantown, WV. As national distributor of industrial, electrical, safety, and integrated supply products and service solutions, Hagemeyer will continue to service national contract customers and industrial product customers in Pennsylvania. Hagemeyer North America Inc., Charleston, SC, is a distributor of products and services focused on business-to-business markets in electrical materials, safety products, and industrial products and services and has annual revenues of $1.5 billion. The Hite Company has 13 locations throughout Pennsylvania and one in New York. The acquisition is expected to close in late January.
According to news reports, Unidare has announced plans to sell its last-remaining asset, UK-based Eland Cables, to a management team for $7 million in cash. The deal is subject to approval by shareholders. Eland Cable distributed electrical cables, cable accessories and industrial hose to the rail, telecom and equipment manufacturing sectors in the UK and export markets. In November, Unidare sold off its U.S. subsidiary, ORS Nasco Inc. ORS Nasco, based in Muskogee, OK, will be sold to a private equity firm for $81 million. The company has focused on wholesaling products in the industrial, welding, safety, construction, rental, and oilfield services sectors. ORS Nasco only sells to distributors.
Thomas Associates, Cleveland, OH, a trade association management company, will end its work with the Industrial Supply Association effective May 31, 2006. The company managed the organization and its predecessors for 57 years. Thomas Associates has been providing contract management services for ISA since the group was founded in July 2004 in a merger with the Industrial Supply Manufacturers Association and the Industrial Distribution Association. Before the establishment of ISA, Thomas had managed ISMA, formerly called the American Supply Machinery Manufacturers Association for more than five decades.
Barnes Group Inc., Bristol, CT, has promoted Idelle K. Wolf to president of Barnes Distribution, effective Jan. 1. Wolf was president of Barnes Distribution North America. She remains a vice president for Barnes Group Inc. She will replace Keith Drewett, who will retire on March 1, 2006. Drewett, who had previously indicated his intention to retire, will assist in the transition of leadership at Barnes Distribution. In May of 2000, Wolf joined Barnes Distribution as COO when Barnes Group acquired Curtis Industries. At Curtis Industries, Wolf was executive vice president and COO. In December 2004, Wolf was named president, Barnes Distribution North America.
October U.S. machine tool consumption totaled $277.53 million, down 5.2% from September but up 25.4% from the total reported in October 2004, according to the American Machine Tool Distributors' Association and the Association for Manufacturing Technology. With a year-to-date total of $2,549.50 million, 2005 was up 11.3% compared with 2004.
A new annual trade forum that focuses on the industrial (MROP) supply chain, and addresses the dynamics of U.S. manufacturer survival, expanding business opportunities, global marketing and sourcing and the distressed U.S. auto industry, will be held in Chicago, Nov. 19-20, 2006. The Global Industrial Supply Marketing Forum, a two-day conference, will be aimed at senior management of industrial supply manufacturing firms, and other significant channel players, said Richard F. McGrath, retired vice president of 3M Industrial Products, industry consultant and chairman of the steering committee for Global Industrial Supply Marketing Organization, which is producing the event. McGrath said the GISMO Forum will present a wide range of world-class speakers as well as exclusive research results designed to put industry performance in perspective, and guide manufacturers and major trading partners in future planning.