Cooper Industries, Ltd., Houston, TX, appointed Steven L. Sisney as group president of Tools & Hardware. In this position, Sisney will have responsibility for the company's global tools and hardware businesses, including Cooper's hand tools business headquartered in Raleigh, NC; Cooper's power tools business, headquartered in Lexington, SC, and 49 manufacturing and sales facilities in North and South America, Europe and Asia Pacific. Sisney most recently was president of Cooper Crouse-Hinds, headquartered in Syracuse, NY. ...
Mayer Electric Supply Company, Birmingham, AL, has announced the signing of a letter of intent to acquire the operations of Maddux Supply, Greensboro, NC, with 14 branch operations in North Carolina, South Carolina, Virginia, Georgia, and Florida. Founded in 1965, the Maddux team is comprised of some 270 associates serving contractors, industrial facilities, and utility, commercial, institutional and government ...
Airgas, Inc., Radnor, PA, reported earnings for its second quarter ended Sept. 30. Net earnings for the quarter were $19.1 million, compared to $19.2 million in the same period a year ago. Second quarter results include insurance-related losses of $2.8 million for previously announced incidents at two of the company's facilities.
Second quarter sales increased 2% to $460 million, while total same-store sales were essentially flat compared to the same quarter a year ago, reflecting continued weakness in manufacturing and other industrial segments. Same-store sales in the Distribution segment were down 1%, driven by a 2% decline in hardgoods. Same-store sales for the Gas Operations segment increased 4%, attributed to sales from the Hopewell, Virginia CO2 plant, which began ...
MRO Software, Inc., Bedford, MA, announced revenues of $46.0 million for the company's fourth quarter and $176.9 million for the fiscal year ended Sept. 30.
Total revenues for the fourth quarter were $46.0 million compared with $46.1 million for the fourth quarter last year. Revenues for the fiscal year ended Sept. 30 were $176.9 million, compared with $171.9 million for the prior year, an increase of 3%.
On a GAAP basis, the company reported net income for the fourth quarter of $2.6 million compared with a net loss of $2.0 million for the same quarter last year. On a GAAP basis for the fiscal year ended Sept. 30, the company reported net income of $4.9 million compared with a net loss of $10.6 million for the prior year.
Economic activity in the manufacturing sector grew in October for the fourth consecutive month, while the overall economy grew for the 24th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Businessﾮ.
The report was issued today by Norbert J. Ore, C.P.M., chair of the Institute for Supply Managementﾙ Manufacturing Business Survey Committee and group director, strategic sourcing and procurement, Georgia-Pacific Corporation. ''The manufacturing sector enjoyed its fourth consecutive month of growth as new orders continue to lead the recovery. Production made a sharp swing upward during October, signifying growth for the sixth consecutive month.''
ISM's Backlog of Orders Index indicates that order backlogs improved again in ...
Less than a year after its official groundbreaking, Master Chemical Corporation of Perrysburg, has opened Master Chemical (Shanghai) Co., Ltd., in the People's Republic of China.
The event was attended by more than 150 people including Master Chemical Corporation personnel, Master Chemical Asian distributors, local dignitaries, customers, and suppliers.
Speakers and presenters included Joe H. Wright, Chief Executive Officer, and Xinfang Lu, recently promoted to Corporate Director Asian Business Development and General Manager Master Chemical (Shanghai) Co., Ltd.
In his remarks Mr. Wright delivered greetings from Marian Sluhan. Clyde and Marian Sluhan founded Master Chemical as a pioneer leader in the metalworking fluids industry more than 50 years ago.
The Power Transmission Distributors Association (PTDA) released the September trend data for distributors and manufacturers of power transmission/motion control (PT/MC) products.
In September, U.S. distributors' year-to-date sales of PT/MC products remained flat as compared to sales for January through September in 2002. Sales increased 6.0% over the previous month and were up 1.4% as compared to September 2002.
Days sales in accounts receivables decreased 2.6% over August 2003 and declined 4.2% as compared to the same month last year. Annualized inventory turnover in September was 4.4 turns, compared to 4.2 turns in 2002.
For September, the confidence level of U.S. distributors held constant at 4.9 on a 10-point scale.
September U.S. machine tool consumption totaled $175.79 million, according to AMTDA, the American Machine Tool Distributors' Association, and AMT - The Association For Manufacturing Technology. This total, as reported by companies participating in the USMTC program, was up 24.8% from August, but down 9.7% from the total of $194.63 million reported for September 2002. With a year-to-date total of $1,389.71 million, 2003 is down 16.1% compared to the same period in 2002.
These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program. "We are clearly seeing early signs of recovery in manufacturing," said Ralph J. Nappi, AMTDA President. "Both broad and specific indicators suggest we are at the beginning ...
Motion Industries, Birmingham, AL, posted sales of $557.0 million in the third quarter ended Sept. 30, 2003, down 2.5% from $571.3 million in the third quarter of 2002. Operating profits were $34.2 million in the current third quarter, down 12.2% from last year's $39.0 million in Q3. Sales for the nine months were $1.693 billion, down slightly from $1.695 billion recorded in the first nine months of 2002. Operating profits for the first nine months were $110.6 million, down 12.2% from operating profits of $126.0 million in the comparable 2002 period.
Motion's parent, Genuine Parts Company, Atlanta, GA, reported sales totaling $2.2 billion in the third quarter ended Sept. 30 were up 2% compared to the third quarter of 2002. Net income was $88 million, compared to $94 million for ...
August U.S. machine tool consumption totaled $150.99 million, according to AMT - The Association For Manufacturing Technology and AMTDA - the American Machine Tool Distributors' Association. This total, as reported by companies participating in the USMTC program, was up 16.6% from July but down 3.2% from the total of $155.93 million reported for August 2002. With a year-to- date total of $1,225.59 million, 2003 is down 16.1% compared to the same period in 2002.
These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.
"August orders and increased output among many of our customers appear to be signaling and end to the decline in the manufacturing technology investments," said John B. ...