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The MRO supplies distribution giant expects the 1.2-million-square-foot facility to open in 2026.
Fed Chair Jerome Powell suggested that a rate cut issued at his committee's March 19-20 meeting is unlikely.
It follows several years of transformation for the distributor of fluid handling, sealing and material conveyance supplies and solutions.
October-December Avnet sales fell 5.5% year-over-year in the Americas.
For the year, member distributors saw overall 12-month sales decline by 0.3%.
Joyce Orlob Evans — the daughter of the company's founder — played an active role in the MROP distributor throughout her life.
Electrical materials supplier Independent Electric will rebrand and restructure to enable more efficient operation.
Fellow private equity firm American Securities, which acquired FBM in 2021, retains a majority stake in the distributor.
UPS plans to cut 12,000 jobs this year to realize $1 billion in cost savings after both domestic and international volumes have suffered.
Terabytes of data were stolen from manufacturing giant Schneider Electric’s sustainability division in a ransomware attack on Jan. 17.
