For the second quarter of 2022, Genuine Parts Company reported record sales of $5.6 billion, a 17% increase over the same period a year ago.
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The manufacturer reported second-quarter 2022 sales of $1.136 billion, an increase of $55.2 million over the same period last year.
The industrial technology manufacturing company financed the transaction through a combination of available cash and debt.
The Louisiana company reported ‘record’ second-quarter sales for 2022, up 15% from last year to $2.1 billion.
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The Producer Price Index for final demand increased 1.1% in June compared to the prior month, the Bureau of Labor Statistics reported.
The distributor has acquired Cornerstone Supply in Florida and two Intermountain Machining Supply locations in Idaho and Montana.
Jaime Ramirez steps down as EVP and president in tools & storage, while Robert Raff leads tools as acting EVP and president.
The distributor also said annual revenue is now targeted at $3.3 billion, up from the previous guidance of $3.1 billion.
It's the 11th bolt-on deal for BradyIFS since Brady and Individual FoodService merged in 2020, and it raises the company's annual revenues to more than $1.3 billion.
Wolfpack said the deal has been in the works since early 2022 and will be an important step forward in its expansion efforts.
The facility will house a wall-coatings tint line to provide custom-color material and an accessories store for grab-and-go application tools.
Romar Supply, which has nearly 100 employees, has been a wholesale distributor of mechanical and industrial PVF and steel fabrications.
The company named Paul Woodard as district vice president for Graybar’s Atlanta District, effective July 11.
Michael Hall was promoted to territory sales manager, and Lisa Percival was promoted to inside sales lead.
Plans to break the company into separate B2B and consumer-focused entities remain on hold, though board members did approve a realignment of existing operations.
Avnet says the strategic partnership with AWS will help OEMs of IoT solutions ‘accelerate their time to market.’
Miller’s third-generation owners are expected to remain in their leadership roles, according to industry reports.
The DPA Buying Group held its annual Buying & Networking Conference in Fort Lauderdale, Florida, which drew more than 500 attendees.
The ABC analysis comes around the same time it was announced that construction prices rose 2.3% in May compared to the previous month.
