W.W. Grainger Inc., Chicago, Illinois, has entered into a definitive agreement to sell Dutch distributor Fabory Group to Torqx Capital Partners, a Dutch private equity company. More.
Mars Supply, Bloomington, Minnesota, has acquired certain assets of Machine Tool Supply, Eagan, Minnesota, a distributor of cutting tools, abrasives, mold components, workholding products, MRO and safety supplies. More.
DGI Supply, a DoALL Company, Wheeling, Illinois, has agreed to acquire certain assets of Production Tool & Supplyof Rockford, Illinois. DGI Supply has hired the Production Tool & Supply employees and will continue to operate under the PT&S brand in the Rockford area. More.
Swedish manufacturer Atlas Copco has acquired Ovity Air Comprimé, a French distributor of industrial air compressors and solutions for compressed air. More.
Fastenal Co., Winona, Minnesota, reported May sales of $493.2 million, up 4.4% over the year-ago period. The company reported daily sales of $24.7 million, up 14.8% versus a year ago. More.
MRC Global Inc. Houston, Texas, has announced that president and CEO Andrew Lane will retire on Dec. 31, 2021. More.
Electrical product distributor McNaughton-McKay Electric Co., Madison Heights, Michigan, has made two executive appointments creating a new organizational structure leading the company. The company named Mark Borin as president of McNaughton-McKay and David Dozier as president of The Reynolds Co. More.
PPG, Pittsburgh, Pennsylvania, has approved significant and broad restructuring actions to reduce its global cost structure. The company’s planned actions will deliver $160 to $170 million in annual pre-tax cost savings, with approximately $25 to $35 million of savings projected in 2020. More.
Amazon announced the company is leasing 12 Boeing 767-300 converted cargo aircraft. The aircraft will join Amazon’s existing fleet of 70 aircraft. More.
Alibaba.com, a business unit of Alibaba Group, announced three new products and services intended to allow U.S. small businesses to access digital logistics to source globally, alleviate cash flow with 60-day payment terms, and connect U.S. manufacturers and wholesalers with buyers through online trade shows. More.
Descartes Systems Group Inc., Waterloo, Ontario, reported sales for the fiscal 2021 first quarter of $83.7 million, up 7% from the first quarter of fiscal 2020. Profit increased 51% to $11 million. More.
Construction spending during April was estimated at a seasonally adjusted annual rate of $1,346.2 billion, 2.9% below the revised March estimate of $1,386.6 billion, according to new data from the U.S. Census Bureau. The April figure is 3.0% above the April 2019 estimate of $1,307.1 billion. During the first four months of this year, construction spending amounted to $412.5 billion, 7.1% above the $385.2 billion for the same period in 2019. More.
Real gross domestic product (GDP) decreased at an annual rate of 5% in the first quarter of 2020, according to the "second" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.1%. More.
Led by declines in production- and employment-related indicators, the Chicago Fed National Activity Index (CFNAI) fell to –16.74 in April from –4.97 in March. All four broad categories of indicators used to construct the index made negative contributions in April, and all four categories decreased from March. More.
Heating, Air-conditioning & Refrigeration Distributors International (HARDI) released its monthly TRENDS report, showing the average sales performance by HARDI distributors was a decrease of 19.2% during April 2020. The average annual sales growth for the 12 months through April 2020 is 1.3%. More.
The coronavirus impact on distributor revenues continued to show signs of improvement, according to Indian River Consulting Group’s weekly Pandemic Revenue Index for the work week of May 25-29. The index indicated a 0.3% increase compared with the same week a year ago, up significantly from an 11.4% drop in the prior week. More.
The American Supply Association, whose distributor, manufacturer and manufacturers’ representative members conduct business throughout the plumbing, heating, cooling, pipe, and industrial pipe, valves and industry supply chain, announced it is part of a coalition urging Congress to quickly enact temporary and targeted liability relief legislation related to the COVID-19 pandemic. More.
Henkel, Dusseldorf, Germany, has announced that Derek Bufkin, currently vice president, head of sales USA West for Henkel’s General Manufacturing & Maintenance (ACM) business will move to the role of vice president, head of Channel Management North America. More.
Material handling products manufacturer Columbus McKinnon Corp., Amherst, New York, reported sales for the fiscal year ended March 31 of $189.5 million, down 12.6% from the prior year. Profit increased 40.2% to $59.7 million. More.