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Dakota Supply Group (DSG), Fargo, North Dakota, on June 24 announced the pending acquisition of Honold & La Page Inc (H&L), an asset purchase that will be effective July 1. Financial terms of the deal weren’t disclosed. More.
Grainger, Chicago, on June 22 announced it has entered into a definitive agreement to sell its distribution business in China, Grainger China LLC, to a purchaser owned by the Grainger China management team and Sinovation Ventures, a China-based venture capital firm. Financial terms of the deal weren’t disclosed. More.
Sonepar USA, Charleston, South Carolina, a subsidiary of the privately held Sonepar Group, has announced strategic organizational changes. Scott Schuenke, VP of strategic marketing for Sonepar USA, has been named VP of strategic development for Sonepar North America. Tammy Livers, SVP of key accounts, has been named SVP of sales enablement and customer experience for Sonepar USA. Lindsey Watts, digital marketing manager, has been named director of customer marketing. And Mick Upchurch, director, national C/I strategy for key accounts, has been named VP of key accounts for Sonepar USA. More.
Carlisle Cos. Inc., Scottsdale, Arizona, on June 19 announced the termination of its previously announced agreement to acquire Draka Fileca SAS from Prysmian SpA. The agreement terminated due to regulatory approval not being received for the transaction prior to the expiration of the parties’ agreed time period to satisfy closing conditions. More.
Led by improvements in production- and employment-related indicators, the Chicago Fed National Activity Index(CFNAI) rose to +2.61 in May from –17.89 in April. All four broad categories of indicators used to construct the index made positive contributions in May, and all four categories increased from April. The index’s three-month moving average, CFNAI-MA3, moved up to –6.65 in May from –7.50 in April. More.
U.S. cutting tool consumption totaled $142.9 million in April, according to the U.S. Cutting Tool Institute (USCTI) and The Association For Manufacturing Technology (AMT). This total, as reported by companies participating in the Cutting Tool Market Report collaboration, was down 31.1% when compared with the $207.5 million reported for April 2019 and down 24.7% from March’s $189.8 million. With a year-to-date total of $717.5 million, 2020 is down 14.4% when compared with the first four months of 2019. More.
Total industrial production increased 1.4% in May, according to the Industrial Production and Capacity Utilization Report, as many factories resumed at least partial operations following suspensions related to COVID-19. Even so, total industrial production in May was 15.4% below its pre-pandemic level in February. Manufacturing output — which fell sharply in March and April — rose 3.8% in May. More.