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News Digest 3717
Airgas, Inc., Radnor, PA, has acquired Dantack Corp., a Grand Prairie, TX-based safety distributor with branches in Columbus, OH, and Richmond, VA. The business generated more than $18 million in sales in 2006. Airgas'safety distribution business had $438 million in sales in fiscal 2007 through telesales and field-based safety specialists within its regional companies. More


The Home Depot has completed the sale of HD Supply to a trio of private equity firms -Bain Capital, Clayton Dubilier & Rice, and Carlyle Group. As announced earlier, the terms were as follows: Purchase price of $8.5 billion, The Home Depot to own a 12.5 percent equity interest for $325 million, ...
Free
Hagemeyer NA Releases Industrial Catalog
Hagemeyer NA has released its 2007-2008 Industrial Products catalog. The 900-page book features 28,000 items.
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This catalog represents an important part of Hagemeyer's marketing and growth plans and provides our valued customers with a broad array of high-quality products to meet their everyday business needs," says Brad Pulver, vice president, Product Strategy. "The catalog also showcases several of our value-added services that set us apart from our competition, including; Web-based ordering at www.hagemeyerdirect.com, technical services, vending solutions, inventory management solutions, order automation tools and storeroom management capabilities.
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The catalog is organized in the following product categories:&nbsp ;


  • Hand ...
Economic Trends
MDM Inflation Index: July 2007
Modern Distribution Management's July Inflation Index, which measures a cross-section of industrial supplies, was up 0.23% from the previous month, and up 3.16% from July 2006.


Summary of&nbsp ; MDM Inflation Index for the past 12 months:
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July 2007 Index 272.4
June 2007 Index 271.7
May 2007 Index 271.2
April 2007 Index 270.8
March 2007 Index 269.6
February 2007 Index 269.4
January 2007 Index 268.7
December 2006 Index&nbsp ; 267.1
November 2006 Index 266.5
October 2006 Index 265.9
September 2006 Index 265.6
August 2006 Index 265.2
July 2006 Index 264.0

Please click below to view a print-ready pdf of the&nbsp ; MDM Inflation Index for July 2007, listing the ten individual product categories ...
Economic Trends
Monthly Wholesale Trade: July 2007
July 2007 sales of merchant wholesalers, except manufacturers'sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $359.0 billion, up 0.8 percent from the revised June level and were up 7.2 percent from the July 2006 level. The June preliminary estimate was revised downward $0.7 billion or 0.2 percent.
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July sales of durable goods were virtually unchanged from last month and were up 4.3 percent from a year ago. Compared to last month, sales of lumber and other construction materials were down 3.2 percent. July sales of nondurable goods were up 0.1 percent from last month and were up 10.0 percent from last year. Sales of drugs and druggists' sundries were up 1.4 percent from last month.
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Research & Analytics
U.S. Market Analysis: Hoists

The industrial product group listed here - Hoists - represented a market in 2006 of $495.3 million, according to estimates by Industrial Market Information, Minneapolis.


These charts show the top ten industries, by SIC code, consuming these products; and the 2006 end-user consumption of these groups sorted by the nine government market ...
Economic Trends
July Wholesale Revenues Up 0.8%
July 2007 sales of merchant wholesalers, except manufacturers'sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $359.0 billion, up 0.8 percent from the revised June level and were up 7.2 percent from the July 2006 level. The June preliminary estimate was revised downward $0.7 billion or 0.2 percent.
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July sales of durable goods were virtually unchanged from last month and were up 4.3 percent from a year ago. Compared to last month, sales of lumber and other construction materials were down 3.2 percent. July sales of nondurable goods were up 0.1 percent from last month and were up 10.0 percent from last year. Sales of drugs and druggists' sundries were up 1.4 percent from last month.
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Economic Trends
July Construction Permit Issues Slow in Canada
Source: Statistics Canada

Construction intentions cooled down in July as the value of building permits declined, halting two months of record-setting performances. Municipalities issued building permits worth&nbsp ; $6.2&nbsp ; billion, down&nbsp ; 11.3% from&nbsp ; $6.9&nbsp ; billion in June.

Still, July was one of only a handful of months in which permits exceeded the $6-billion mark.


At&nbsp ; $6.9&nbsp ; billion in both May and June, the total value of permits was at its highest level on record.


Losses occurred in both the residential and non-residential sectors. The value of residential permits fell&nbsp ; 6.3% to&nbsp ; $3.8&nbsp ; billion, with declines in both the single-family and multiple-family components.
<br ...
Economic Trends
Report: Manufacturing Showed Resiliency in 2Q
While there will likely be significant deceleration in manufacturing growth in 2007, the second quarter showed signs of resiliency, and 2008 looms as an improvement, according to the MAPI Quarterly Industrial Outlook, a report that analyzes 27 major industries.
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Manufacturing industrial production expanded at a 3.9 percent annual rate in second quarter 2007, far better than the weak 0.8 percent in the first quarter. For the year as a whole, though, the report predicts that manufacturing production growth will decelerate from the 4.7 percent recorded in 2006 to 2 percent growth in 2007, before rebounding to 2.9 percent growth in 2008.
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An improvement in manufacturers' exports in most industries and the end of an inventory drawdown explains the bounce back in ...
Finance
3M Agrees to Buy Venture Tape
3M, St. Paul, MN, has agreed to acquire Venture Tape Corp., a supplier of pressure sensitive adhesive tapes based in Rockland, MA.
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Venture Tape manufactures tapes used in construction, oil and gas, heating, ventilation and air conditioning (HVAC), electronics, aerospace, marine and appliance markets. It also provides specialty industrial tapes complementary to 3M's specialty tape product line used in splicing, automotive and automotive aftermarket applications.
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This acquisition broadens our pressure sensitive adhesive tape platform, brings new channels to 3M, and allows us to expand into adjacent markets such as construction," said Patrick Deconinck, division vice president, 3M Industrial Adhesives and Tapes Division.
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Venture Tape employs ...
Plumbing Products & PVF Distribution
Fairmont Supply Company Buys Brite Star Sales
Fairmont Supply Company, Canonsburg, PA, a national full-line distributor of industrial maintenance, repair and operating supplies has announced the acquisition of Brite Stars Sales, Elko, NV.
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Brite Stars Sales, an industrial distributor serving the northern Nevada industrial and mining market, specializes in automotive and filtration products sold primarily to the gold mining customers in Nevada. Brite Star Sales has an additional location in Round Mountain, NV.
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Gary Heit, who started the company in 1984, will join Fairmont Supply as a consultant, developing business opportunities in Nevada.
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This acquisition is consistent with our growth strategy to enter key markets throughout the U.S. Brite Stars Sales is an outstanding organization and is ...
Finance
Singer Equities Completes Acquisition of National Hose
Singer Equities has completed its purchase of National Hose & Accessory based in Houston, TX.&nbsp ;

Mike Deem, the former owner of the company, will continue to manage the day-to-day operations as a standalone business.
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Singer Equities is a private equity firm focusing its investments towards distributorships in the industrial rubber products industry. The other companies in the group include Hampton Rubber Company, Allied Rubber & Supply, RW Connection, Inc., Advance Fluid Connectors, and PRC Industrial ...
Free
Edgen Murray Adds Valves to Lineup
Edgen Murray Corporation, Baton Rouge, LA, the U.S. subsidiary of Edgen Murray II, L.P., has acquired Equipment Valve & Supply, Inc.
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Equipment Valve, from its locations in Houston, TX, and Broussard, LA, is a distributor of specialized valves and actuation packages to the oil and gas exploration and production, natural gas transmission, petrochemical, processing, and industrial market segments.
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Equipment Valve's products, which are used to control, direct, and measure the flow of oil and gas, are complimentary to our existing product offering. The addition of valves to our global distribution infrastructure further strengthens our commitment to our customers to provide them with a comprehensive specialty supply solution," said Dan O'Leary, CEO of Edgen ...
Free
Ingersoll-Rand to Buy Italian Manufacturer
Ingersoll-Rand Company Limited has agreed to buy privately owned Officine Meccaniche Industriali srl, a European supplier of compressed-air treatment equipment.

OMI develops and manufactures compressed-air treatment products, including air dryers, filters, chillers, and system controllers. OMI is based in northeast Italy in Fogliano Redipuglia, Gorizia Province, and has an additional facility in Logatec, Slovenia.

The acquisition of OMI reflects our intention to build upon one of our core business platforms relating to industrial productivity," said Herbert L. Henkel, CEO for Ingersoll Rand.

Upon completion of the acquisition, scheduled for late September 2007, OMI will operate as part of the Air Solutions business of Ingersoll Rand's Industrial ...
Free
NAW Takes Legal Action in Product Liability Case
The National Association of Wholesaler-Distributors is one of nine organizations that joined in filing an amicus curiae ( friend of the court ) brief in the Supreme Court of Ohio in a case focused on the retroactive application of the doctrine of strict liability in product liability actions brought against non-manufacturer product sellers, including wholesalers, distributors and retailers.
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Strict liability is based on the condition of a manufacturer's product rather than the conduct of the defendant.
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According to NAW President Dirk Van Dongen, the association views DiCenzo as a "major, even seminal case that carries with it profound legal and economic ramifications for wholesaler-distributors in Ohio and across the nation."
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In their brief, ...
Economic Trends
ISM: Manufacturing Expands in August
Economic activity in the manufacturing sector expanded in August, say the nation's supply executives in the latest Manufacturing ISM Report On Business.
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Viewed from the manufacturing sector, the overall economy continues to grow at a significant rate, according to ISM. In comparing August to July, the rate of growth in manufacturing was slightly less but expansion continues, although at the slowest pace in the past five months.
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Both the New Orders Index and the Production Index are encouraging for continuing growth as we head toward the fourth quarter of 2007, ISM reports.
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See details <a href=/databank/ism0807.html" ...
Finance
Regal Beloit Buys HVAC Supplier Jakel Inc.
Regal Beloit Corporation, Beloit, WI, has acquired Jakel Inc. and completed the announced $220 million acquisition of the FASCO Residential/Commercial and FASCO Asia/Pacific operations from Tecumseh Products.
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Both of the acquired businesses manufacture and market motors and blower systems for air-moving applications including alternative fuels systems, water heaters, HVAC systems and other commercial segments. The two independent businesses will be combined and operate as a single unit as part of the Company's Electrical Segment.
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The acquired businesses are anticipated to add approximately $355 million in sales to 2008.
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The six facilities included with the acquisitions are FASCO'S manufacturing and distribution facilities in Eldon and ...
Economic Trends
Labor Productivity Up 4.3% in 2006 in Wholesale Trade
Labor productivity -defined as output per hour -increased 4.3% in wholesale trade in 2006, according to the U.S. Bureau of Labor Statistics.
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From 1987 to 2006, labor productivity increased at the following average annual rate: 3.5% in wholesale trade.
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2005-2006 Change in Wholesale Trade
Output per hour grew 4.3%, as output increased 6.6% and hours advanced 2.2%.&nbsp ; Labor productivity rose 5.1% in durable merchant wholesalers (NAICS 423) and increased 2.7% in nondurable merchant wholesalers (NAICS 424).
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Labor productivity rose in 15 of the 19 detailed wholesale trade industries in 2006, as output ...
Finance
Airgas Acquires $18M Safety Distributor
Airgas, Inc., Radnor, PA, has acquired Dantack Corporation, a Grand Prairie, TX-based safety distributor with branches in Columbus, OH, and Richmond, VA. The business generated more than $18 million in sales in 2006.
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The operations will be managed by Airgas Southwest, one of the Airgas regional companies, as a stand-alone business for the first few months. Later, operations in Ohio and Virginia will transition to other Airgas regions.
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Airgas' safety distribution business generated $438 million in sales in fiscal 2007 through telesales and field-based safety specialists within its regional companies.
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Dantack's extensive local coverage throughout Texas, combined with its national accounts program, makes it a great strategic fit for Airgas," said ...
Economic Trends
Housing Drags on 2Q GDP
Residential investment continued to drag on GDP growth in the second quarter, according to the latest estimates by the Bureau of Economic Analysis.
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Real gross domestic product -the output of goods and services produced by labor and property located in the U.S. -increased at an annual rate of 4% in the second quarter of 2007, according to preliminary estimates.
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In the first quarter real GDP increased 0.6%.
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These GDP estimates are based on more complete source data than were available for the advance estimates released last month. In the advance estimates, the increase in real GDP was 3.4%.
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The increase in the second quarter reflects positive contributions from personal consumption expenditures (PCE) for services, exports, ...
Economic Trends
Metals Drive Down Prices in Canada
Source: Statistics Canada

In July, falling prices for metals and the strength of the Canadian dollar drove the prices of manufactured products down for a third consecutive month, while a jump in crude oil prices pushed raw materials prices upward.
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From June to July, prices charged by manufacturers, as measured by the Industrial Product Price Index (IPPI), fell&nbsp ; 0.7% following two consecutive monthly declines. The drop in prices essentially reflects lower prices for primary metal products, motor vehicles and other transportation equipment, as well as chemical products. However, higher prices for petroleum and coal products, and lumber and other wood products tempered the decline in the IPPI.
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