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In The News:

Breaking News in Wholesale Distribution

Gates Corporation considers plant closure

In an effort to reduce its belt manufacturing costs in North America, Gates Corporation, Denver, CO, is restructuring its facilities and considering closing the Elizabethtown, KY, belt manufacturing plant. Production from the plant would be ...
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MSC expects 3% sales growth for quarter

MSC Industrial Direct Co., Melville, NY, provided guidance regarding its anticipated financial results for its third fiscal quarter ended Jun. 1, 2003.For the fiscal 2003 third quarter, the company expects to report revenues of approximately ...
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Grainger lowers sales growth estimate to 1-3%

Grainger President and Chief Operating Officer Wesley M. Clark, addressing a group of analysts in Chicago, outlined Grainger's initiatives to capture additional market share through investments in customer service and technology and shared his expectations ...
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Timken expands online services

The Timken Co., Canton, OH, announced the extension of online services to authorized Australian and New Zealand distributors through The Timken Store at www.endorsia.com. The site provides 24/7 access to product availability, pricing, order placement, ...
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FPDA president Tom Ralls passes

Tom D. Ralls, 2003-2004 Fluid Power Distributors Association, Inc. president & chairman of the board, and president of Hyspeco, Inc. died June 13th after a battle with cancer. Elected president in March 2003, after serving ...
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Timken to consolidate 3 regional service centers

The Timken Company, Canton, OH, intends to sell assets from three of its U.S.-based regional service centers to one of its joint ventures, CoLinx, LLC. The closings and subsequent physical transfer of assets from Timken's ...
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June Manufacturing ISM Report On Business

Economic activity in the manufacturing sector failed to grow in June, while the overall economy grew for the 20th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Businessᆴ.The report ...
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Columbus McKinnon reports year-end results

Columbus McKinnon Corporation, Amherst, NY, announced its financial results for the fiscal 2003 fourth quarter and full year which ended on Mar. 31, 2003. Columbus McKinnon's fiscal 2003 fourth quarter consolidated net sales from continuing ...
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Parker's fiscal Q2 net income rises 29%

Parker Hannifin Corporation Cleveland, OH, reported a 29-percent increase in fiscal second-quarter net income of $37.6 million on sales of $1.52 billion for the period ended Dec.31, 2002. Before five cents per share in previously ...
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November machine tool consumption down 9.7%

November U.S. machine tool consumption totaled $145.52 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 ...
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