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Latest In Lawson Products

Lawson Products CEO Thomas Neri and COO Harry Dochelli recently spoke with MDM about the changes they are making to better compete in the market, including a new SAP system, a reorganized sales force, a new pricing model, an upgraded website and an optimized network. The distributor’s leaders share their story and what they are learning as they go down this road of change. Lawson Products is No. 24 on MDM’s recently released list of the Top 40 Industrial Distributors.

In 2008, Lawson Products agreed to pay a $30 million penalty in a case where sales agents, according to the government, provided nearly...

Lawson Products, Inc., Des Plaines, IL, a distributor of services, systems and products to the MRO and OEM marketplaces, reported sales for the second quarter of 2009 of $95 million, down 25.3% from the prior year period. Profit was $1.8 million, compared to a loss of $29.7 million in the second quarter 2008.

Sales for the six month period ended June 30, 2009, were $194.4 million, a decrease of 23.2% from the prior year period. The company reported a net loss of $4.1 million in the first six months of 2009, compared to a loss of $25.3 million in the first six months of 2008.

"We are beginning to see positive results from the cost reduction initiatives we implemented over the last several months," said Thomas Neri, president and CEO. "Beyond our cost initiatives, we are working hard ...

Lawson Products, Inc., Des Plaines, IL, a distributor of services, systems and products to the MRO and OEM marketplaces, reported sales for the first quarter of 2009 were $99.4 million, down 21% year-over-year.  The company recorded a loss of $5.9 million for the quarter, compared to a profit of $4.4 million a year ago.
 
Restructuring charges and additional costs related to the settlement of the investigation by the U.S. Attorney's Office for the Northern District of Illinois, totaled $6.5 million in 2009 and $1.3 million in 2008.
 
"While the global economic recession continues to impact our business, we remain committed to making aggressive cost decisions that will better position Lawson to emerge as a stronger company than it was when we entered ...
Layoffs and buyouts continue as the weak economy persists. Two industrial companies announced further staff reductions this week.
 
3M, St. Paul, MN, said it would offer early retirement packages to 3,600 employees in the U.S., about 11% of its total U.S. workforce, according to a report published by the St. Paul Pioneer Press. The announcement comes a week after the diversified manufacturer reported it would be laying off 1,200 employees, primarily outside the U.S.
 
Lawson Products Inc., Des Plaines, IL, announced it would eliminate 150 positions - about 11% of its workforce - by the end of the second quarter 2009. In addition, the industrial distributor will close its Dallas, TX, distribution center in response to economic ...
Lawson Products, Inc., Des Plaines, IL, reported sales of $106.8 million for the fourth quarter 2008, down 13.6% from the prior year. A loss of $5.4 million was recorded, compared with profit of $4 million for the fourth quarter 2007.
 
For the full year, sales decreased 5.3% to $485.2 million in 2008 compared to $512.5 million in 2007 primarily as a result of the global economy's significant pullback in the fourth quarter of 2008. The loss for the year was $27.6 million; for 2007, profit of $10.6 million was reported.
 
Costs related to the settlement of the investigation by the U.S. Attorney's Office for the Northern District of Illinois, severance costs, unclaimed property expenses and the goodwill impairment charge totaled $43.2 million in 2008 ...
Lawson Products, Inc., Des Plaines, IL, a distributor of services, systems and products to the MRO and OEM marketplaces, reported sales for its third quarter of $124.6 million, down 2.6% from the prior year quarter. Profit was $3.1 million, up 28.3% from the third quarter of 2007.
 
The decline in sales for the third quarter resulted from lower sales in the MRO business, while profit was impacted by increased product and commodity costs.
 
For the nine months ended Sept. 30, 2008, sales declined 2.8% $375.9 million, as compared to sales for the same period the prior year. Year-to-date, the company recorded a loss of $22.2 million.
 
Charges of $31.6 million and $4.9 million related to the settlement announced in August of the investigation of the company ...
Lawson Products, Inc., a Des Plaines, IL-based distributor of services, systems and products to the MRO and OEM marketplaces, reported sales of $126.3 million for its second quarter ended June 30, 2008, a decrease of 2.2% from the prior year quarter. The company reported a loss of $29.7 million, compared with a net loss of $0.3 million in the second quarter of 2007.
 
Charges of $30.4 million related to the settlement of the investigation of the company by the U.S. Attorney's Office and $3.6 million related to liabilities for unclaimed property contributed to the reported loss.
 
For the six months ended June 30, 2008, sales were $251.3 million, 2.9% lower than the six months ended June 30, 2007 due to lower sales in the MRO business. The net loss for first six ...
Lawson Products, Inc., Des Plaines, IL, has agreed to pay $30 million in forfeiture and restitution in the case of sales agents who according to the government systematically provided nearly $10 million in illegal incentives to government employees to buy more products at higher prices for their employers.
 
The agreement brings to a close the government's investigation of Lawson's former customer loyalty programs. The agreement stipulates that a criminal case of mail fraud against the company will be dismissed in three years as long as Lawson abides by all terms and conditions," according to the U.S. Attorney's Office for the Northern District of Illinois.
 
"We are pleased to have reached this agreement with the U.S. Attorney's Office, which enables us all to move ...