The lawsuits accuse 3M and a subsidiary of selling faulty combat earplugs that damaged the hearing of veterans who used them.
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It marks the first acquisition for Tencarva since it was privately-acquired in November 2021.
An expert says lawsuits filed by veterans who blame hearing issues on defective earplugs could bankrupt the company, but 3M calls the interpretation ‘flawed speculation,’ according to Bloomberg.
With production operations in Guadalajara, Mexico, the unit has approximately 600 employees and had 2021 revenues of about $63 million.
Formerly known as Electrocomponents plc, London-based RS Group will add Monterrey, Mexico-based Risoul.
A 3-alarm fire late Monday night destroyed the Commerce City, California, warehouse of Western Hose & Gasket, a WestFlex company.
The metalworking and MRO supplies distributor is suddenly on an acquisition streak.
It's part of the toolmaker's plan to save $1.5 billion in three-year cost savings while shifting resources and reprioritizing investments.
It could take until the end of 2023 to complete, after which 3M will retain a 19.9% stake.
It’s only MSC’s third acquisition since 2018, gaining a fellow metalworking and industrial supplies distributor.
Atlanta-based retail giant said it will open two more distribution centers in Miami in 2022.
The acquisition is designed to enhance the growing data communications product category within ADI Global Distribution, according to the global manufacturer and distributor of technology-driven products and solutions.
Following this transaction, effective immediately, both Drillco and Triumph will continue to operate under their own respective brands.
Excluding an outlier, the overall sales change is still positive but at 1.3%.
It took the company more than a year of preparation to make the move.
Mark Collett will remain president of Bloom.
Fourth-generation, family-owned Maine company makes internal promotions within senior leadership team and adds several new roles.
David Kinsella becomes president of Electrical–U.S. Division and Electrical-U.S. Supplier VP John Kudlacek plans to retire.
CEO Michael DeCata reports the company is positioned for solid future growth, including acquisitions.
The company’s second quarter financial results report $5.2 billion in net income.
