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Finance
Sonepar Offers $3.5B for Hagemeyer
Paris-based Sonepar's unsolicited $3.5 billion (2.5 billion euro) bid Oct. 8 for Hagemeyer NV shook the electrical distribution world this week. Hagemeyer rejected the offer, saying it significantly undervalues the company." Nevertheless, the Netherlands-based company says it will meet with Sonepar to "clarify its intentions.


Based on comments by Hagemeyer CEO Rudi de Becker in August, Hagemeyer is not interested in selling. Still, Sonepar will likely try to persuade the company's board and raise its bid.

Joining Sonepar and Hagemeyer would create a global powerhouse with revenues of roughly 15 billion euro (US$21 billion), based on the two companies'reported sales in 2006. The merger would also mean greater and complementary market coverage for both companies ...
Top Distributor Sectors
SKF’s View of Global Distribution
MDM Editor Lindsay Young spoke with SKF Service Division President Phil Knights at the European Power Transmission Distributors Association annual meeting last month in Monaco about how the global manufacturer views the distribution marketplace. Knights oversees all 70 of the SKF Service Division units worldwide. The division is responsible for sales to the industrial aftermarket via a network of 7,000 distributor locations and comprises about one-third of the SKF Group's sales.
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MDM: What impact is consolidation having on independent distribution channels?

Phil Knights: The biggest get bigger and sometimes the smaller ones disappear. That is happening in Europe at quite a fast speed now. It's following similar patterns in the U.S. with one ...
Economic Trends
Monthly Wholesale Trade: August 2007
Sales
August 2007 sales of merchant wholesalers, except manufacturers'sales branches and offices, were $360.9 billion, up 0.4 percent from the revised July level and were up 6.8 percent from the August 2006 level. The July preliminary estimate was revised upward $0.5 billion or 0.1 percent. August sales of durable goods were up 0.9 percent from last month and were up 4.4 percent from a year ago. August sales of nondurable goods were down 0.1 percent from last month, but were up 9.1 percent from last year.
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Inventories
Total inventories of merchant wholesalers, except manufacturers'sales branches and offices, were $399.0 billion at the end of August, up 0.1 percent from the revised July level and were up 4.4 percent from a year ...
Free
News Digest 3719
CED (Consolidated Electrical Distributors) will acquire US Electrical Services, LLC, Exton, PA,&nbsp ; a recently formed distribution holding company lead by former Sonepar USA chief Richard Worthy. US Electrical Services will continue to operate as a separate entity. Worthy will lead the company as its CEO.&nbsp ; More
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Hagemeyer NV said in a press release Tuesday that Sonepar's unsolicited bid of US$3.5 billion (2.5 billion euro) "significantly undervalues the company." Hagemeyer says it will meet with Sonepar to "clarify its intentions." Paris-based Sonepar announced in an unsolicited offer that it would pay 4.25 euro in cash per share for the ...
Research & Analytics
U.S. Market Analysis: Mechanics Hand Tools
The industrial product group listed here - Mechanics Hand Tools - represented a market in 2007 of $2.95 billion, according to estimates by Industrial Market Information, Minneapolis.&nbsp ;
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These charts show the top ten industries, by SIC code, consuming these products; and the 2007 end-user consumption of these groups sorted by the nine government market ...
Subscriber Only
MDM October 10, 2007
This is the pdf of this issue of Modern Distribution Management. Apply the full $24.95 pay-per-view cost toward an annual subscription (within 30 days of purchase), which includes two issues a month plus access to more than six years of online archives and market data. Call 1-888-742-5060 or email info@mdm.com to ...
Finance
Hagemeyer: Sonepar’s Bid Is Too Low
Hagemeyer NV said in a press release Tuesday that Sonepar's unsolicited bid of US$3.5 billion (2.5 billion euro) significantly undervalues the company." Hagemeyer says it will meet with Sonepar to "clarify its intentions."
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Paris-based Sonepar announced in an unsolicited offer that it would pay 4.25 euro in cash per share for the Netherlands-based distributor. The global electrical distributor notified Hagemeyer of its intention on Monday, Oct. 8.
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The joining of Sonepar and Hagemeyer would create a global electrical distribution giant with global revenues of roughly 15.5 billion euro (US$22 billion), based on the two companies' reported sales in 2006. In North America, Hagemeyer did close to $2 billion in sales in 2006. The Sonepar USA division is reported to ...
Free
Barnes Distribution Taps New President
Barnes Group Inc., Bristol, CT, has named Patrick J. Dempsey as president of Barnes Distribution. Dempsey was the president of Barnes Aerospace and a vice president of Barnes Group. He replaces Idelle K. Wolf, who is retiring. Dempsey takes the helm immediately.


Dempsey joined Barnes Group in 2000 as president of Barnes Aerospace's Windsor Airmotive Division, its worldwide maintenance and repair operation. In 2003, Mr. Dempsey was named group vice president, operations of Barnes Aerospace. In 2004, the Board of Directors appointed him president of Barnes Aerospace.

Barnes Group consists of three businesses: Barnes Aerospace, Barnes Distribution and Barnes Industrial. It has 65 locations ...
Finance
McKesson to Acquire Specialty Drug Distributor
McKesson Corporation, San Francisco, CA, has agreed to buy Oncology Therapeutics Network, a U.S. distributor of specialty pharmaceuticals, for $575 million.




According to Pembroke Consulting's Adam Fein, OTN owns Onmark, a large buying group for thousands of small accounts. He says in his Distribution Trends blog: "Such forward integration makes it virtually impossible for a manufacturer to bypass and sell directly to the customer, because the distributor and the customer are the same company." The customers of OTN will continue to operate as separate businesses.

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Sales of specialty drugs are increasing rapidly, especially oncology drugs. OTN ...
Finance
Hagemeyer Launches Marine Line
Industrial distributor Hagemeyer North America, Charleston, SC, is launching a marine product line focused specifically on the needs of the marine industry.
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Hagemeyer's marine product range includes construction and repair materials and products; electrical systems; hardware; fittings; safety gear; and shop, yard, and marina equipment.
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Hagemeyer's customer base already includes numerous marinas and boat builders.
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Hagemeyer North America is a distributor of Electrical, Safety, and Maintenance, Repair and Operations (MRO) products to industrial users, electrical contractors and government. Hagemeyer North America has annual revenues of $1.8 billion in more than 150 ...
Free
3M Outlines Growth Strategy
3M CEO George Buckley outlined to investors this week&nbsp ; how the diversified manufacturer wants to continue to rebuild and expand its core, especially adhesives, abrasives, tapes and films.
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Its continuing strategy, he said, is to advance its core businesses, grow through complementary acquisitions, build new business in adjacent markets and drive strong international expansion.
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I'm heartened by the way our growth strategy is taking hold and gaining momentum," Buckley said. "We have increased R & D investment by 11% over 2006 and picked up the pace of new product introductions. In addition, we have made 15 complementary acquisitions this year.
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3M is expected to announce soon the acquisition of California-based rival Standard ...
Finance
Report: 3M to Acquire Standard Abrasives
The Minneapolis/St. Paul Star-Tribune reports that 3M Co. has told its workers that it is acquiring Standard Abrasives, Simi Valley, CA, a "significant rival in the metal-abrasives industry." 3M officials have confirmed the coming acquisition.
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According to its Web site, Standard Abrasives designs and manufactures coated abrasive specialties and BriteRite non-woven abrasives for high-speed deburring, grinding, polishing, finishing and cleaning applications on metal surfaces.
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3M abrasives brands are Scotch-Brite, Cubitron, and Trizact.
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Standard will join 3M's industrial and transportation ...
Finance
Valley National Gases Buys PA-based Distributor
Valley National Gases, LLC, Washington, PA, has acquired Allegheny Welding and Industrial Supply Inc., an industrial gas and welding supply distributor with locations in Johnstown, Greensburg, and McKeesport, PA.
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Valley National Gases is a packager and distributor of industrial, medical and specialty gases, welding equipment and supplies, propane and fire protection equipment. Valley National Gases operates 78 locations in 16 states, with eight production and distribution centers in the eastern U.S.
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Valley National Gases was acquired in February 2007 by Caxton-Iseman Capital LLC, a New York-based private equity ...
Free
WinWholesale Continues Expansion
WinWholesale Inc., Dayton, OH, has opened two branches in Nebraska. It opened Husker Winlectric in Omaha, NE, to serve contractors in the Omaha-Council Bluffs metro area and surrounding counties with electrical products. It is the fourth electrical wholesale location WinWholesale has opened this year.
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WinWholesale has also opened Lincoln Winwater Works Company in Lincoln, NE, to serve utilities, municipalities and contractors in eastern Nebraska.
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WinWholesale subsidiary Noland Company, Newport News, VA, plumbing, heating, ventilation and air conditioning distributor, has opened a branch in Cleveland, TN, to serve HVAC contractors in a six-county area in the southeastern part of the state.
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The new branch includes a warehouse, display area and ...
Finance
Private Equity Firm Buys Conney Safety
Caxton-Iseman Capital LLC, a New-York-based private equity firm, has acquired Conney Safety Products, LLC, Madison, WI, a full service national distributor of personal protective equipment, safety equipment, first aid supplies, and various other safety products, from K+K America Corporation.
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The transaction has a value of $48 million.
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The company's strong track record positions it to leverage its excellence by expanding into new markets, offering new products, and reaching out to new customers," added Thomas Ritchie, vice president at Caxton-Iseman Capital. "The industrial products distribution space remains highly fragmented, and we believe that our support will enable Conney to be an active participant in current and future consolidation through add-on ...
Economic Trends
Manufacturing Expands in September
Economic activity in the manufacturing sector expanded in September for the eighth consecutive month, while the overall economy grew for the 71st consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business.


"Manufacturing growth continued in September while some sectors of the economy are apparently struggling," ISM reported. "The trend is toward slower growth in manufacturing as the rate of growth in both the New Orders Index and Production Index slowed. The sector is apparently in excellent shape with regard to inventories as the Inventories Index fell to 41.6 percent, indicating significant inventory liquidation, and the rate of growth in the Employment Index increased slightly in ...
Free
Atlas Copco Moves Pneumatic Production to Hungary
Atlas Copco, Stockholm, Sweden, will establish a factory for assembly of pneumatic tools in Hungary. The move involves transferring production of these tools from Hemel Hempstead, Great Britain.
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This is part of our strategy to increase sourcing from Eastern Europe and&nbsp ; Asia," says Fredrik M& ouml; ller, business unit president, Atlas Copco Industrial Technique.&nbsp ; "By establishing production in&nbsp ; Hungary, we are lowering our cost base and safeguarding our future growth prospects.

The factory, close to&nbsp ; Budapest, will become fully operational during the first quarter of 2008.
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The supplier said that Great Britain is an important market for Atlas Copco and the changes will not have any effect on the marketing, sales ...
Free
Pro-Build Subsidiary Expands in Idaho
Lumbermens Inc., Lacey, WA, has agreed to buy Alpine Lumber Supply's two North Idaho facilities, according to local newspaper, the Bonner County Daily Bee.
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Alpine is a supplier of building materials with two lumber yards focused on eastern Washington and North Idaho builders. The company serves contractor and retail segments. After the sale, Alpine will operate under the Lumbermens banner.
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Lumbermens is a division of Pro-Build Holdings with more than 70 lumberyards, truss plants, millwork facilities and installed services in five states.

Pro-Build Holdings operates more than 500 lumber and building product distribution, manufacturing and assembly centers in 40 ...
Free
C.H.Briggs Appoints New President
C.H.Briggs Company, Reading, PA, has appointed Donald F. Schalk as president and Chief Operating Officer.
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Owner Julia Klein retains the titles of chair and CEO.
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Before joining C.H.Briggs, Schalk served as president and general manager of EnergyUnited Propane LLC, a regional energy company in North Carolina. Before joining that firm Schalk was president and CEO of Richland Partners LLC, dba Leffler Energy, a $100 million petroleum distribution company, which was formed through a management buyout of Columbia Petroleum.
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C.H.Briggs Company is an independently-owned distributor of specialty building products on the East Coast. ...
Free
Graybar Opens New Location in Illinois
Graybar, St. Louis, MO, distributor of electrical and communications products, has opened a 10,000-square-foot distribution facility in Collinsville, IL.
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With the addition of this facility, the company now has 12 locations throughout Missouri and Illinois, including regional distribution centers in Joliet, IL, and Springfield, MO.&nbsp ;
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The branch inventory is backed by a $4.5 million inventory in the St. Louis distribution center and a $10 million inventory in the Springfield, MO, regional distribution center.&nbsp ; Graybar Collinsville features a counter operation and one-hour will-call service.
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Graybar has more than 250 North American distribution facilities with around $5 billion in annual ...

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