The 2020 Mid-Year Economic Update_long

MDM News Digest 3709

GE Supply will now be named Gexpro. The name change follows the acquisition of GE Supply by Rexel, Paris-based distributor of electrical supplies. Gexpro, a $2.7 billion unit, will continue to operate as an independent Rexel banner in the U.S. More ...

Barnes Group Inc., Bristol, CT, has renamed its Associated Spring business segment Barnes Industrial. The Associated Spring brand will remain within the Engineered Springs SBU.&nbsp ; More ...

DXP Enterprises, Inc. has agreed to buy Delta Process Equipment, Inc., a $23 ...

$361 million in the first quarter 2007. Profit was up 50 percent to $27.7 million. Sales at Barnes Distribution were $152.5 million, up 23 percent from as a result of $22.7 million of incremental sales from the KENT acquisition and organic sales growth of $3.7 million. Organic sales grew in large part as a result of price increases and continued growth in Corporate and Tier II accounts.

Interline Brands, Inc., Jacksonville, FL, distributor and direct marketer of maintenance, repair and operations products, reported sales for the first quarter of 2007 increased 31.5 percent over the comparable 2006 period. Sales for the quarter ended March 30, 2007 were $295.4 million. Average organic daily sales growth for the first quarter was 3.2 percent. Profit was $9.4 million, compared with $8.4 million in the year-ago period. More …

Kaman Corp., Bloomfield, CT, reported sales for the first quarter 2007 were up 7 percent to $317.3 million. Profit was $10.1 million, up 70 percent from the same period a year ago. Kaman attributed the sales gain to improved performance in its Aerospace Segment. Aerospace Segment sales were $93.1 million, up 26.5 percent from last year. Industrial Distribution Segment sales for the first quarter of 2007 were $173.4 million, up 1.7 percent. More …

Smith International, Inc., supplier to the oil and gas industry, reported first-quarter sales were $2.11 billion, compared with sales of $1.68 billion in the same period a year ago. Profit was $160.2 million. More …

The Timken Co., Canton, OH, reported sales of $1.28 billion in the first quarter 2007, an increase of 2 percent over the same period a year ago. Income from continuing operations was $41.6 million. Sales in Asia were up 17 percent. The Industrial Group had first-quarter sales of $544.4 million, up 8 percent from $503.9 million for the same period last year. Favorable pricing and higher volume drove the increase, with sales strength coming from aerospace and heavy industry. More …

Rockwell Automation, Inc., Milwaukee, WI, reported fiscal 2007 second quarter sales in the U.S. were flat compared to the second quarter of 2006, and international sales increased 13 percent.
Airgas, Inc., Radnor, PA, distributor of industrial, medical, and specialty gases, welding, safety, and related products, reported sales in the fourth quarter ended March 31, 2007, were up 14 percent to $854 million. Same-store sales increased 5 percent, with hardgoods up 6 percent and gas and rent up 5 percent. Sales in fiscal 2007 increased 13 percent to $3.2 billion, with same-store sales growth of 8 percent. More …

Builders FirstSource, Inc., Dallas, TX, a supplier and manufacturer of structural and related building products for residential new construction, reported sales of $411.1 million in the first quarter ended March 31, 2007, down 30.2 percent from the same period a year ago. Profit was $0.2 million. More …

BlueLinx Holdings Inc., Atlanta, GA, distributor of building products in North America, reported sales fell 30.5 percent to $957.1 million. The company recorded a net loss for the quarter of $189,000, compared with a profit of $9.8 million in the same period a year ago.

RONA, Canadian retailer and distributor of home improvement, hardware and gardening products, reported sales were up 10% in the first quarter 2007 from the year-ago period. Profit was $9 million, compared with $16.4 million in 2006. More …

Beacon Roofing Supply, Inc., Peabody, MA, reported sales in the second quarter 2007 dropped 11 percent to $286.9 million. Declines occurred across three major product lines: residential, non-residential and complementary products. Complementary product sales declined the least at 5.1 percent. More …

The Producer Price Index for Finished Goods increased 0.7 percent in April, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported. This advance followed a 1.0-percent rise in March and a 1.3-percent increase in February. In April, the index for finished goods excluding foods and energy remained unchanged for the second consecutive month.

The Timken Company, Canton, OH, is releasing a new 1,300-page bearing catalog available in print and electronic versions. The catalog covers more than 250 of the manufacturer’s product lines. Timken has also made available an online searchable version on CD and online.GE Supply will now be named Gexpro. The name change follows the acquisition of GE Supply by Rexel, Paris-based distributor of electrical supplies. Gexpro, a $2.7 billion unit, will continue to operate as an independent Rexel banner in the U.S. More …

Barnes Group Inc., Bristol, CT, has renamed its Associated Spring business segment Barnes Industrial. The Associated Spring brand will remain within the Engineered Springs SBU.&nbsp ; More …

DXP Enterprises, Inc. has agreed to buy Delta Process Equipment, Inc., a $23 million Southeastern U.S. supplier of industrial and municipal pump equipment and services, for $10 million.&nbsp ; More …

Lab supplier VWR International, Inc., West Chester, PA, a portfolio company of Clayton, Dubilier & Rice, Inc., will be acquired by Madison Dearborn Partners. VWR had revenue of more than $3.2 billion in 2006. It is the second largest distributor in the global research lab supply industry.&nbsp ; More …

Praxair Distribution, Inc., Danbury, CT, has acquired Rite Weld Supply, Inc. of Fort Worth, TX. Rite Weld is a regional independent distributor of industrial, medical, specialty gases and related welding equipment and supplies. Rite Weld had sales of $14 million in 2006.&nbsp ; More …

US Components, Morristown, NJ, a supplier of truss and wall panels and division of Pro-Build Holdings, has acquired Casmin Inc., Leesburg, FL, a roof and floor manufacturer. Casmin has plants in Tavares and Lady Lake, FL. The acquisition is US Components first entry into Florida.&nbsp ; More …

84 Lumber Company, Eighty Four, PA, has purchased two Denver-area companies to add to its network of more than 475 stores and 22 truss manufacturing plants. JAC & Company provides installation services, such as framing and trim, to professional contractors. Front Range Panel supplies the professional home building and construction market. The two companies will operate under the 84 Lumber banner.&nbsp ; More …

Economic activity in the manufacturing sector expanded in April for the third consecutive month, while the overall economy grew for the 66th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report on Business. Manufacturing activity increased in April; the PMI reflects accelerating growth for the month. New Orders and Production improved significantly as did Employment. More …
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Industrial production decreased 0.2 percent in March after an increase of 0.8 percent in February. Output in the manufacturing sector moved up 0.7 percent in March; the increase was led by advances in the production of durable goods. More …

Construction spending during March 2007 was estimated at a seasonally adjusted annual rate of $1,187.8 billion, 0.2 percent above the revised February estimate of $1,185.0 billion, according to the Department of Commerce. The March figure is 2.0 percent below the March 2006 estimate of $1,212.4 billion. During the first 3 months of this year, construction spending amounted to $250.3 billion, 2.4 percent below the $256.5 billion for the same period in 2006. More …

After a four-month decline in U.S. distributors’sales of Power Transmission/Motion Control products at the end of 2006, this year’s sales continued to show positive growth with a 9.3 percent jump in sales for February, according to the most recent trend data report from the Power Transmission Distributors Association. When matched up against February 2006 sales, sales in February 2007 were up 8.8 percent. More …

The number of electrical distributors reporting sales growth continued to decline during the first quarter of 2007, however they look for a strong upturn in the second quarter, according to National Association of Electrical Distributors’newly released Quarterly Sales Change Expectation Survey. For the quarter ended March 31, 61.2 percent of distributors indicated their sales had grown. Among regions, the Northeast experienced a difficult quarter as just 32.4 percent of distributors posted gains. More …

Real gross domestic product -the output of goods and services produced by labor and property in the U.S. -increased at an annual rate of 1.3 percent in the first quarter of 2007, according to advance estimates released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.5 percent. The first-quarter “preliminary” estimates, based on more comprehensive data, will be released May 31, 2007. More …

Following a lackluster start to the year, wholesaling activity in Canada picked up in February with higher sales of food and personal and household products accounting for much of the increase. Wholesale sales rose by&nbsp ; 0.8 percent to&nbsp ; $43&nbsp ; billion in February. The most significant increase came in the personal and household goods sector (+4 percent), while the automotive products (+1.9 percent) sector also grew. These gains were offset by declines in the building materials (-2.2 percent) and “other products” (-1.5 percent) sectors. More …

Prices for petroleum and primary metal products caused prices for manufactured goods in Canada to surge in March. Raw material prices were pushed up mainly by prices for non-ferrous metals. From February to March, prices charged by manufacturers, as measured by the Industrial Product Price Index (IPPI), registered a fifth consecutive monthly increase of&nbsp ; 1.3 percent. More …

Metals service center Ryerson Inc., Chicago, IL, reported profit of $28.1 million on sales of $1.7 billion in the first quarter 2007, up 21 percent from the same period last year. As previously announced, Ryerson’s Board of Directors is comparing the company’s current stratetic plan with strategic alternatives “which may create additional value.” More …

Industrial Distribution GroupInc., Atlanta, GA, reported sales in the first quarter 2007 were $135.1 million, down 3.7 percent from the same period a year ago. Profit was $1.5 million, equal to a year ago. Revenues from Flexible Procurement Solutions were $81.1 million, an increase of 0.7 percent. FPS revenues were 60 percent of total first-quarter revenues as compared with the 57.4 percent reported in first quarter 2006. More …

Barnes Group, Bristol, CT, sales rose 20 percent to

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