That's down from 5.1% in 4Q, as Global's 2Q23 acquisition of Indoff Inc. continued to inflate its year-over-year results.
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The company's largest segment saw organic sales fall 1.5% in the Americas, though operating profit saw a healthy improvement.
The company also is acquiring a 13-branch distributor in France.
Two automotive parts makers have merged to diversify the customer base for their precision machined parts and flow- and cold-formed products.
The distributor’s organic sales topped expectations and the company continues to grow its automation presence.
The HVACR distribution giant also detailed its ongoing technology transformation.
The rule is set to increase the current salary threshold for overtime pay exemption by 65% at the start of 2025.
The rule will go into effect 120 days after entered into the Federal Register, though it's expected to meet stern legal opposition.
Two VPs from fasteners distributor and manufacturer Optimas Solutions discuss personally-vetted supply chain management strategies for OEMs.
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Wisconsin-based tool manufacturer Snap-on posted 1Q24 sales of $1.18 million, a modest organic sales decline.
Motion continued to see sales growth and strong renewal rates with corporate account customers, which comprise about 45% of business.
President Biden wants to raise the tariff rate on certain Chinese steel and aluminum imports to cut out "unfair competition".
Major manufacturers may have taken a big early lead, but their smaller competitors have been able to close the digital gap in recent years.
Local media cited financial troubles leading to buyer backing out of purchasing the hand tool maker's Bushnell, IL plant.
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The distributor frequently cited adverse weather in its 1Q report, while poor demand remains the core issue as pricing has stabilized.
Analysis of manufacturing tech orders provides an economic indicator as manufacturing industries invest in equipment to increase capacity.
The Department of Commerce plans to grant TSMC, the world's leading semiconductor chip manufacturer, $6.6 billion to build up a U.S. hub.
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