Sandvik has added Sphinx Tools, which has customers primarily within the automotive, aerospace and medical segments.
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Major distributors and manufacturers continue to raise their full-year outlook after better-than-expected 2Q results and persistent demand.
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A 3-alarm fire late Monday night destroyed the Commerce City, California, warehouse of Western Hose & Gasket, a WestFlex company.
Sandvik's recently-added GWS Tool Group has acquired Balax, Inc. as an addition to the conglomerate's Walter division.
It's the third acquisition for Winsupply announced this year, and comes alongside news that it will start drone deliveries on Aug. 9.
Downward pressure on nonresidential spending is likely to only intensify, and the situation looks even worse when adjusting for inflation.
It was the slowest expansion since June 2020 as prices took a major month-to-month decline while employment posted improvement.
It's part of the toolmaker's plan to save $1.5 billion in three-year cost savings while shifting resources and reprioritizing investments.
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The company is looking to sublet at least 10 million square feet of excess space following its first quarterly loss since 2015.
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