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Industrial distributor appoints Scott Durand as president and Melissa Book as CFO.
Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Jan. 11 to Jan. 15 increased 4.6%, reverting to normal growth after weeks in the double digits.
However, the manufacturer closed the year on a positive note with fourth-quarter sales up 2.3%.
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Housing starts also up — in the low double digits — compared to year-ago period and the previous month, according to the latest residential construction report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
Hisco president: “This acquisition enables us to further expand our signature ‘fast, friendly service’ to customers throughout North America."
With these cost-cutting moves, the industrial distributor aims to save $15 million to $18 million annually beginning in fiscal 2022.
Consolidation continues in the building materials sector following ACS’s eighth acquisition under its current PE ownership.
Changes throughout the electrical distributor designed to help company “focus on growth and customer expectations.”
For the full year of 2020, Fastenal’s sales increased 5.9% over the previous year driven by nine strong months of safety and PPE sales to offset softer fastener business.
