Lawson Products, Inc., Des Plaines, Ill., reported April 18th record first quarter 2002 net sales of $95,746,000, an increase of 14.5 percent from $83,650,000 recorded in the first quarter of 2001. The increase in net sales is principally attributable to approximately 400 sales representatives who came to Lawson as part of the Premier Industrial acquisition completed as of March 30, 2001. Also contributing to the increase was improved sales activity in the OEM marketplace.

The increase in net sales during the quarter and the discontinuance of goodwill amortization resulted in 18.1% growth in operating income to $6,000,000 compared to $5,082,000 for the same period last year. Pre-tax income was $6,410,000, an increase of 10 percent. Interest charges and a reduction in ...

DXP Enterprises, Inc., Houston, TX, announced net income of $.2 million for the fourth quarter ending Dec. 31, 2001 compared to a net loss $8.4 million for the fourth quarter of 2000. Sales decreased to $38.6 million from $46.6 million for the fourth quarter of last year. This decline is primarily due to the slowdown in the U.S. economy and the sale of an electrical contractor location.

For the year ended Dec. 31, 2001, the company reported a net income of approximately $0.9 million on sales of $174.4 million. Excluding the non-recurring charges and the gains on the sale of two warehouse facilities in 2000, net income increased by approximately $1.6 million in 2001 from a loss of approximately $0.7 million in 2000.
David R. Little, chairman and CEO said "during the year, ...

Tyrolit North America Inc., Westboro, MA, plans to cease production May 31 of its vitrified and bonded abrasives at its Westboro plant, formerly the Bay State Abrasives plant, according to an article in the Worcester Telegram. The company will focus on manufacturing superabrasives at this location, retaining about 30 employees of the current 200 workers at the plant. Tyrolit bought Bay State/Sterling in 1997 from Bay State's former general manager, Bernie Phaneuf, who had purchased the company out of Chapter 11 bankruptcy proceedings in ...

Flowserve Corp., Dallas, TX, has a definitive agreement to acquire the Flow Control Division (IFC) of Invensys plc for $535 million in cash. IFC manufactures valves, actuators and associated flow control products, including steam systems, for the oil and gas, chemical and petrochemical, power generation and process industries. IFC expects revenues of $520 million for the year ended Mar. 31, 2002 and EBITDA of $87 million. IFC's brands include Edward, Limitorque, PMV, Argus and McCanna.

Flowserve had fiscal 2001 revenues of $1.9 billion. The company formed in 1997 with the merger of BW/IP, Inc. and Durco International Inc. Flowserve markets a wide range of pump, valve and mechanical seal brands, as well as operating a service division. Among its ...

Barnes Group Inc., Bristol, CT, signed a definitive agreement to acquire Spectrum Plastics Molding Resources, Inc., Ansonia, CT, a fully integrated, precision injection molder of plastic products. Spectrum Plastics Molding Resources, Inc. (Spectrum Plastics) is a manufacturer of reel-to-reel and loose piece part plastic components and related tooling, owned and lead by Pierre Dziubina, who will continue to manage the business under Barnes Group ownership.

The acquisition is expected to close early in the second quarter of this year. The transaction will be financed through a combination of cash and Barnes Group Inc. stock, and will add approximately $17 million in annual sales to Barnes Group's Associated Spring unit.

"With the acquisition of Spectrum Plastics, ...

K.J. Electric, Syracuse, NY, acquired Grand Eagle Motor Repair, Utica, NY, effective Mar. 19. The acquisition between K.J. Electric, a $25 million company, and Grand Eagle, a $2 million motor repair facility, will double the workforce by adding more job opportunities as well as keeping Grand Eagle's current employees.

Upon hearing that the Chicago based, Grand Eagle made the decision to close their Utica branch, Kenneth Jacobs, owner of K.J. Electric, felt the need to expand the capacity and complete the thruway corridor of shops throughout New York state.

Grand Eagle's 25,000 square foot repair facility is equipped with a crane capacity of 50,000 lbs and electrical apparatus testing up to 4100 volts. Jacobs also plans to invest an additional $500,000.00 with ...

Lawson Products, Inc., Des Plaines, IL, is expanding at five of its domestic locations and a sixth in Canada. The largest of the expansions will provide additional space adjacent to Lawson's Des Plaines international headquarters. The combined expansions for all locations will exceed 240,000 square feet.

Lawson said that effective April 1, it has leased the 114,000 square foot former Agfa Film Company facility at Sherwin and Frontage Road across from its corporate offices and in-bound distribution center. The space will be used as offices for internal departments and inventory warehousing for several business units.

A 25,000-square-foot expansion in Cleveland will be completed for occupancy by April 1. In addition, a 10,000 square foot expansion has been completed at ...

Kaman Corp., Bloomfield, CT, acquired a majority ownership interest in Delamac de Mexico S.A. de C.V., a Mexican distributor of industrial products headquartered in Mexico City.

The business will become part of Kaman's industrial distribution subsidiary, Kaman Industrial Technologies, based in Windsor, CT. Terms were not disclosed.

Kaman Industrial Technologies is one of the largest U.S. distributors of bearings, power transmission, and motion control products.

Delamac, founded in 1957 by Jorge de la Macorra, supplies power transmission, bearings and fluid power products to customers in a broad cross section of Mexican industry. The company, which operates facilities in Mexico City and Queretaro, generated sales of approximately $7.0 million in 2001. The facilities will ...

Illinois Tool Works Inc., Glenview, IL, reported an operating revenue decline of 4 percent for the three months ended Feb. 28, 2002. Operating revenues consisted of 6 percent growth from acquisitions, offset by an 8 percent decline from base businesses and a 2 percent decrease due to the impact of currency translation. The revenue performance for the three-month period was mostly attributable to weakness in general industrial based North American and International end markets.

On a manufacturing segment basis, the company's three month moving average percentage change for operating revenues, including base business and acquisitions, is provided below.

(% change for 3 months ended February 2002 versus prior year period)

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USFLOW Corporation, Grand Rapids, MI, acquired certain assets of Flow Technologies, Minneapolis, MN, as part of its strategy to open branches in select markets adjacent to USFLOW's current geography or with strategic value to serve growth markets targeted by USFLOW.


USFLOW is a sales, marketing, and distribution company that specializes in pipe, valves, and fittings (PVF) products for industrial, OEM, and commercial users. USFLOW is a growth-oriented company with over $360 million in revenues. ...