The 2020 Mid-Year Economic Update_long

MDM News Digest 3802

Rexel, global distributor of electrical supplies, has made Chris Hartmann the CEO of IESC, the holding company of Rexel's U.S. activities, effective Jan. 21. He takes over from Dick Waterman, who is retiring but will stay on as an advisor to Rexel and will serve as chairman of the National Association of Electrical Distributors. More
WinWholesale, Dayton, OH, has opened Tampa Winnelson Company to provide plumbing and mechanical contractors in the Tampa Bay area. It is the first WinWholesale company in the Tampa Bay area and serves Hillsborough, Pasco, Pinellas and Polk counties. More
Employee-owned Windsor Factory ...

Command has 75 employees. Command is a producer of tool holders for milling machine systems and serves the automotive industry, air and space technologies and manufacturing of medical components. More
Thomas &Betts Corp., Memphis, TN, has decided to sell the plastic pipe business acquired with the company’s recent purchase of Lamson &Sessions Co. The company will sell the business, which includes polyvinyl chloride (PVC) and high-density polyethylene (HDPE) conduit, duct and pressure pipe used in construction, industrial, municipal, utility and telecommunications markets sold under the Ameriduct, Pyramid, Lamson Vylon and other brand names.
Weyerhaeuser Company, Federal Way, WA, has agreed to sell its iLevel European engineered wood products operations to Finnforest of Finland, part of the Metsaliitto GroupMore
Veyance Technologies, Inc., manufacturer of Goodyear-branded conveyor belts, has formed Shandong Aneng Conveyor Belt &Rubber Co., Ltd., a long-term joint venture between Veyance’s Asia subsidiary and the Yinhe Group’s Ruiyuan Rubber and Plastics Company, Ltd. Shandong Aneng also has a tentative agreement to purchase exclusive rights to the Yinhe Depreux brand in China. More
Parker Hannifin, Cleveland, OH, supplier in motion and control technologies, reported that for the second quarter 2008, which ended on Dec. 31, 2007, sales were $2.8 billion, an increase of 12.7 percent. Profit increased 9.8 percent. More
The Timken Company, Canton, OH, has agreed to acquire Boring Specialties Inc., a provider of precision deep-hole oil and gas drilling and extraction products and services. Based in Houston, TX, BSI had 2006 sales of $48 million. More
Sandvik, Stockholm, Sweden, has agreed to acquire South African company Corstor International Ltd. Corstor is a manufacturer of borehole core storage and handling systems for the mining and exploration industries. MoreRexel, global distributor of electrical supplies, has made Chris Hartmann the CEO of IESC, the holding company of Rexel’s U.S. activities, effective Jan. 21. He takes over from Dick Waterman, who is retiring but will stay on as an advisor to Rexel and will serve as chairman of the National Association of Electrical Distributors. More
WinWholesale, Dayton, OH, has opened Tampa Winnelson Company to provide plumbing and mechanical contractors in the Tampa Bay area. It is the first WinWholesale company in the Tampa Bay area and serves Hillsborough, Pasco, Pinellas and Polk counties. More
Employee-owned Windsor Factory Supply Ltd., Windsor, ON, Canada, has agreed to acquire Keep Industrial Supply Ltd., also based in Ontario. Keep has locations in Woodstock, Brantford and Stratford, ON. The business will continue to operate as Keep Industrial Supply Ltd. More
Great Northern Lumber, Inc., Chicago, IL-based lumber products wholesaler and manufacturer, has acquired Service Lumber Company, which operates in Northwest Indiana as an industrial hardwood lumber distributor. Great Northern Lumber, Inc. will continue to distribute SLC’s lineup of hardwood products throughout the Upper Midwest market. More
ST Solutions, formerly Salem Tools, Salem, VA, has agreed to buy Regal Industries, Louisville, KY. Regal Industries supplies cutting tools, as well as bonded, coated and superabrasive products to industries in Kentucky, Tennessee and Indiana. Regal also offers inventory management solutions to manufacturing facilities.  More
The ERIKS group has acquired Schmitztechnik GmbH in Mönchengladbach, Germany. Schmitztechnik GmbH sells and customizes plastics and rubber components. The company had annual sales of €5.5 million. More
Avnet, Inc. has agreed to buy UK-based distributor Azzurri Technology Ltd. Azzurri is a distributor of high technology semiconductors and embedded systems products in Europe. Upon closing, Azzurri will be integrated into Avnet Electronics Marketing EMEA primarily within the Avnet Memec specialist division. More
Valley National Gases, LLC, Washington, PA, has acquired Wolfenden Industries, a distributor of industrial, medical and special gases with three operating locations in Northeast Ohio. Wolfenden has sales of $43 million. More
Industrial distributor Lewis-Goetz and Company, Inc., Pittsburgh, PA, has named Jeffrey T. Crane as president and CEO. Crane has served as the company’s president since May 2006. More
Global building products and plumbing/HVAC distributor Wolseley plc reported a 25 percent drop in profit for the five months ended Dec. 31, 2007. Full half-year results will be announced in March. Revenue was up 2 percent. The UK-based company was hit hardest in North America, where profit was down 40 percent and revenue down 10 percent (5 percent in constant currency). More
The U.S. Department of Commerce announced its preliminary findings in the antidumping duty investigations on imports of steel nails from China and the United Arab Emirates. Commerce determined that Chinese and UAE producers/exporters will pay from 20.77 percent to 118.04 percent and 4.47 percent in duties.
Industrial distributor Applied Industrial Technologies, Cleveland, OH, reported sales increased 8.2 percent to $511 million in the 2008 second quarter ended Dec. 31, 2007. Profit was up 23.7 percent. Year-to-date, sales were up 6.7 percent to $1.02 billion, and profit was up 19.5 percent to $47.4 million. More
MSC Industrial Direct Co. Inc., Melville, NY, distributor of MRO supplies to industrial customers, reported sales in the first quarter 2008 were $437.6 million, an increase of 8.8 percent from the prior-year period. Profit was up 16.3 percent to $46.9 million. More
The Fastenal Company, Winona, MN, reported sales for the year ended Dec. 31, 2007, were up 14 percent to $2.06 billion. Profit increased from $199 million to $232 million in 2007, up 16.9 percent. Sales for the quarter ended Dec. 31 were $519.2 million, an increase of 15.7 percent over the same period last year. Profit was up 23.3 percent. More
Industrial production was unchanged in December. For the fourth quarter, output fell 1 percent (annual rate), the first quarterly decrease since the fourth quarter of 2006. Total industrial production in December was 1.5 percent above its year-earlier level.  More
After holding steady in October, manufacturing sales in Canada increased by 1.1 percent in November. Sales improved by $573 million to $50.6 billion. Almost all of the increase in manufacturing was the result of a surge in petroleum and coal product sales during the month, which benefited from sharply rising prices. More
U.S. distributors’sales of power transmission/motion control products continue to fluctuate, dropping 5.9 percent from October to November after a 5.2 percent increase in sales the prior month, according to the latest Power Transmission Distributors Association month-end trend data for November 2007. More
Schneider Electric has agreed to acquire IMS, a U.S. company that designs and manufactures integrated motor and drive products with revenues around $20 million in 2007. With this acquisition, Schneider Electric strengthens its presence in general motion control through the fast-growing integrated motor and drive market. More
Arrow Electronics, Melville, NY, has agreed to acquire the electronic components distribution business of Hynetic Electronics and Shreyanics Electronics in India. Arrow is a global supplier of products and services to industrial and commercial users of electronic components and computer products. More
Columbus McKinnon Corp., Amherst, NY, manufacturer of material handling products, is considering strategic alternatives, including selling, for its Univeyor business. The company is in the process of selecting a financial advisor to lead the initiative. More
Thomas &Betts Corp., Memphis, TN, has acquired The Homac Manufacturing Company, a manufacturer of components used in utility distribution and substation markets, as well as industrial and telecommunications markets, for $75 million. In 2007, Homac sales were $65 million. More
German-based driven and static tools manufacturer EWS Tool Technologies has acquired tool manufacturer Command Tooling Systems LLC, Minneapolis, MN.

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