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MDM News Digest 3922

News briefs from Nov. 10 - 25, 2009

Illinois Tool Works Inc., Glenview, IL, today reported operating revenue for the three months ended Oct. 31, 2009, decreased 18%. Base revenues were down 17%, while currency translation caused a decline of 4% in the operating revenue. Acquisitions contributed 3% to revenues in the three-month period. More

International Wire Group Inc., Camden, NY, reported sales for the third quarter were $115.2 million, down 43.4% from third quarter 2008. Profit improved 16.7% to $2.8 million, primarily the result of a lower effective tax rate. Lower prices on copper, decreased volume and the impact of a stronger dollar versus the Euro all negatively impacted third quarter sales. More

Boise Cascade Holdings, LLC, Boise, ID, reported third-quarter sales of $579 million, down 20.4% from third quarter 2008. Profit was $26.2 million. The decline in U.S. housing starts, down by a third in the period, significantly impacted third quarter results for the wholesale distributor of building products and manufacturer of engineered wood products and plywood. More

Milwaukee, WI-based Brady Corp. reported sales for the 2010 first quarter ended Oct. 31, 2009, were $318.5 million. Organic sales were down 15.9%. Profit for the quarter was $21.7 million. More

Mergers and acquisitions in the global industrial manufacturing industry showed improvement during the third quarter of 2009, according to the PricewaterhouseCoopers LLP report, “Assembling value: Third-quarter 2009 global industrial manufacturing mergers and acquisitions analysis.” Deal value increased 272% increase in the third quarter 2009 from the prior quarter. More

Deal volume and deal value in the transportation and logistics sector are on an upward trajectory, compared to the first half of the year, according to a new PricewaterhouseCoopers LLP report, “Intersections: Third-quarter 2009 global transportation and logistics industry mergers and acquisitions analysis.” Twenty deals with a total value of $6.2 billion were announced during the third quarter in the T&L sector, compared with 31 deals announced with a value of $5.4 billion in the first half of 2009. More

September U.S. manufacturing technology consumption totaled $153.55 million, according to the American Machine Tool Distributors????? Association, and the Association For Manufacturing Technology. This total was up 17.8% from August but down 69.3% from the total of $500.57 million reported for September 2008. More

UK-based Wolseley plc reported sales from continuing operations were £3.49 billion (US$5.69 billion) for the three months ended Oct. 31, 2009, down 13% from the same period a year ago. Profit from continuing operations fell 41% to £104 million (US$174.4 million). On a constant currency basis revenue declined by 20% and profit was 46% lower than the corresponding period in the prior year. More

Grainger, Chicago, IL, a broad line distributor of facilities maintenance products, has acquired Alliance Energy Solutions, Oxford, CT. Alliance Energy provides turn-key energy-efficient lighting retrofits. More

Grainger reported daily sales in October declined 3% from October 2008. Results for the month included a 3%age point contribution from acquisitions and a 2%age point benefit from foreign exchange. Excluding acquisitions and foreign exchange, daily sales for the company declined 8%. More

Kaman Corp. , Bloomfield, CT, reported sales for the third quarter ended Oct. 2, 2009, were down 13.5% from the prior-year period. Profit was $9.6 million, down from $13.5 million. Sales for the first nine months were $877.2 million, down from $937.2 million in the prior-year period. Profit for the first nine months was $24.3 million. More

Building Materials Holding Corp. , Boise, ID, distributor of building materials and construction services, announced a new leadership team following its exit from Ch. 11 bankruptcy protection. Robert E. Mellor, current CEO, will be replaced by Paul S. Street, who is currently senior vice president, chief administrative officer, general counsel and corporate secretary. More

Paris-based electrical distributor Rexel Inc. reported sales of €2.8 billion (US$4.2 billion) in the third quarter, down 19.4% from the prior-year period. Declines were due in part to copper prices; at constant copper prices, the decline would have been 16.6%. Profit for the third quarter 2009 was down 17.3%. More

Canadian retailer and distributor of home renovation, hardware and gardening products RONA Inc., Boucherville, Quebec, reported sales of $1.32 billion for the third quarter, down 4.4% from third quarter 2008. Same-store sales fell 5.3%. Profit declined 6.5% to $49.1 million. Sales in the distribution sector were down 1.6%. More

Home improvement retailer The Home Depot, Atlanta, GA, reported sales for the third quarter were $16.4 billion, an decrease of 8% from a year ago. Profit declined 8.9% to $689 million. Comparable store sales for the third quarter decreased 6.9%, and comparable sales for U.S. stores declined 7.1%. More

Fluor Corp. , Irving, TX, third quarter sales were $5.4 billion, down 4% from third quarter 2008. Profit decreased 11% to $162 million. For the first nine months of 2009, sales were $16.5 billion, up 1.2% from the prior year period. Profit improved 1.7% to $536 million. More

Rockwell Automation, Inc., Milwaukee, WI, reported sales in the fourth quarter fiscal 2009 were down 28% from the prior-year period. Fourth quarter sales were $1.07 billion. Fiscal 2009 fourth quarter revenue was up 6% from the third quarter 2009. More

Airgas Inc., Radnor, PA, has acquired Tri-Tech, a Tampa-FL-based distributor of industrial, medical, and specialty gases and related supplies. The business, with 16 locations throughout Florida, Georgia, and South Carolina, has annual revenues of $31 million. More

 
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