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The company said the expansion will cost approximately $52 million and will create 61 new jobs, according to a news release.
The company said it will help manufacturers and distributors more accurately plan their production schedules.
Cutting tool consumption totaled $196.2 million, according to the USCTI and the Association For Manufacturing Technology.
The partnership announcement comes six weeks after Allied Electronics & Automation rebranded as RS.
The integration of the two platforms will create the first comprehensive solution connecting contractors up and down the supply chain, the companies said.
The electrical products distributor says it also completed 20 acquisitions and welcomed 2,100 new associates in 2022.
The packaging products distributor also just finished construction on a new 915,750-square-foot DC in Naples, Florida.
GPC said it will use Cloud services to modernize digital, store, supply chain and advanced data platforms to enhance customer experience
FocusCFO is a provider of embedded fractional CFO services for a wide range of small and medium-sized businesses.
Enerpac has reported record gross profit margins and adjusted EBITDA margins since rebranding from Actuant in 2019.
