MDM News Digest 4002 - Modern Distribution Management

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MDM News Digest 4002

News briefs from Jan. 11 - 25, 2010.

Industrial distributor Applied Industrial Technologies, Cleveland, OH, reported sales for the second quarter ended Dec. 31, 2009, decreased 11 percent to $446.3 million from the same period last year. More

The Fastenal Company, Winona, MN, reported fourth quarter sales of $476.8 million, down 12.5 percent from fourth quarter 2008. Profit decreased 28.8 percent to $62.5 million. For the year ended Dec. 31, 2009, sales totaled $1.93 billion, a decrease of 17.5 percent from 2008. Profit declined 34.1 percent to $184.4 million. More

US LBM Holdings, LLC, Green Bay, WI, has acquired Universal Supply Company, LLC. With eight locations, Universal distributes roofing, siding and other building materials to southern and central New Jersey, eastern Pennsylvania and Delaware. Universal was formerly a subsidiary of Stock Building Supply, LLC. More

UK-based Wolseley plc has agreed to dispose of its Ireland operations. Wolseley Ireland Holdings Limited will be sold to WIBHM Limited, a private investor backed company, for €26.5 million (US$38.5 million). WIHL includes all of Wolseley’s business interests in the Republic of Ireland, including 67 branches and about 650 employees, and the Brooks business in Northern Ireland. More

Building Materials Holding Corp., Boise, ID, has completed its financial restructuring and emerged from Chapter 11. Secured lenders for the distributor of building materials and construction services to professional home builders and contractors converted debt into equity and are now the owners of the reorganized privately held company, now known as BMC SELECT. More

Industrial Distribution‘s parent company has closed the magazine. The trade magazine has been a mainstay in the industrial distribution market since 1911. Reed Business Information is a part of the larger British and Dutch publishing group Reed Elsevier plc. More

Machine Tools Supply, Costa Mesa, CA, will acquire Cutting Edge Tool & Supply of Chatsworth, CA, as a wholly owned subsidiary of MT Supply Inc. More

MSC Industrial Direct Co., Melville, NY, reported sales for the fiscal 2010 first quarter ended Nov. 28, 2009, were $384.8 million, down from $433 million in the prior year, or 12.5 percent. Profit for the quarter was $31.4 million, down from $45.1 million in the comparable period last year. The distributor posted sequential average daily sales growth of 12 percent from fiscal 2009 fourth quarter. More

Atlas Copco Compressors LLC, USA, part of Stockholm, Sweden-based Atlas Copco, has purchased the compressor division of Premier Equipment Corporation, Inc, Baton Rouge, LA. Premier’s non compressor division, selling mainly pumps and process equipment, will continue to trade as Premier Equipment Corporation, Inc. More

Interline Brands Inc., Jacksonville, FL, distributor and direct marketer of maintenance, repair and operations products, has appointed John Ebner as the distributor’s new Chief Financial Officer and treasurer. More

Bunzl plc has acquired Clean Care A/S in Aalborg, Denmark. Clean Care supplies cleaning and hygiene consumable products and equipment to a variety of end users including contract cleaners and other industrial and institutional customers throughout Denmark. More

Nordson Corp., Westlake, OH, has acquired German distributor GLT mbH based in Pforzheim, Germany. Revenues of GLT were not disclosed. GLT employs 41 and has been a distributor of the company’s Nordson EFD brand dispensing systems and related products in Germany since 1977. More

Precision Castparts Corp., Portland, OR, has acquired a 49 percent equity interest in Yangzhou Chengde Steel Tube Co., Ltd. Chengde is a manufacturer of seamless, extruded pipe for boiler applications in coal-fired power plants, as well as pipe and tubing for other energy-related applications, such as compressed natural gas. More

Dover Corp. operating company Waukesha Bearings, Pewaukee, WI, has acquired Inpro/Seal Company, designer and manufacturer of bearing isolator technologies. Inpro/Seal is based in Rock Island, IL. More

Sweden-based Alfa Laval has acquired Champ Products Inc., Sarasota, FL, a manufacturer of heat exchangers and air coolers. Champ had sales of SEK 100 million (US$14 million) in 2009 and 75 employees. More

Eastman Chemical Company, Kingsport, TN, has acquired Tongxiang Xinglong Fine Chemical Co., Ltd., a cellulose-based specialty polymers manufacturing facility near Shanghai, China. The acquisition will support Eastman’s Coatings, Adhesives, Specialty Polymers and Inks segment. More

Versar Inc., Springfield, VA, has acquired Professional Protection Systems, Ltd. PPS, Milton Keynes, United Kingdom, manufactures and sells personal protective equipment to the nuclear industry, including protective suits, decontamination showers, and emergency shelters. More

Kaman Aerospace Group, Inc. a subsidiary of Kaman Corp., Bloomfield, CT, announced broad organizational realignment, including the establishment of Kaman Composites as a new operating group. James Larwood, formerly president of the Kaman Precision Products Division, has been appointed president of the new operating group. More

Swiss fasteners distributor Bossard reported fourth quarter sales were CHF 95.2 million (US$93.7 million), down 24.5 percent from fourth quarter a year ago. In local currencies, sales decreased by 20.7 percent. In the 2009 business year, Bossard Group reached total sales of CHF 395 million (US$388.9 million), a year-over-year decline of 30.2 percent. More

Zep Inc., Atlanta, GA, reported sales for the first quarter ended Nov. 30, 2009, of $126.8 million, down 1.9 percent from the prior year period. Profit was $5.4 million, compared to a loss of $1.5 million a year ago. More

Parker Hannifin Corp., Cleveland, OH, reported sales for the fiscal 2010 second quarter were $2.4 billion, down 12.4 percent from the year-ago period. Organic sales were down 16 percent in the quarter. Profit for the second quarter was $104.6 million, a decline of 32.7 percent compared with $155.4 million in the second quarter of fiscal 2009. More

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