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The $11.2 million 104,000-square-foot building will house Motion’s area fluid power shop, hose and rubber shop and engineering department.
Company unloads Mississippi-based distributor for $20 million in order to reduce debt.
Increase of manufactured durable goods for the month is the seventh in a row after two decreases during the height of the coronavirus crisis.
Year-to-date, the goods and services deficit increased $73.6 billion, or 13.9%, from the same period in 2019.
Addition will expand Atlas Copco’s footprint in Germany with the acquisition of the vacuum equipment and services distributor.
Distributor acquires business that operates as two entities — Stone Center of Richmond LLC and Stone Center of Fredericksburg LLC.
Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Dec. 28, 2020, to Jan. 1, 2021, increased 21.3%, in part because of a favorable comparison with last year’s holiday schedule.
Association also reports that the average annual sales growth for the 12 months through November 2020 for HARDI distributors is 3.2%.
Profit for industrial distributor MSC plummets 41.5% in the fiscal first quarter ended Nov. 28.
Motion & Control Enterprises, a portfolio company of the private equity firm Frontenac Co., called the addition of Diversified Air Systems a “natural fit with MCE’s fluid power capabilities.”
