The 2020 Mid-Year Economic Update_long

MDM News Digest 3821

Chicago, IL-based W. W. Grainger, Inc. has appointed Michael A. Pulick, senior vice president for Customer Service, to president, Grainger Industrial Supply. Pulick is replacing Y.C. Chen, 61, who will stay on in a special advisory role with the company. Pulick joined Grainger in 1999 from General Electric. More
Fairmont Supply Company, Canonsburg, PA, distributor of industrial maintenance, repair and operating supplies, has acquired Pennsylvania-based North Penn Pipe &Supply. Based in Warren, PA, North Penn Pipe &Supply is a supplier to the oil and gas industry. North Penn Pipe &Supply will operate under its current name.  More
Interline Brands, ...

products sector rose 0.5%. After removing the impact of price changes, sales in volume terms were 3.3% lower. Ontario registered its largest decline (-6.5%) since August 2003. The automotive sector, which had fuelled most of the recent gains, was behind the drop. Nearly all other provinces reported higher sales in August. 

Canadian wholesalers reported a 0.6% rise in inventories to $56.9 billion in August, marking a sixth consecutive monthly rise. Overall, 8 of 15 trade groups reported higher inventory levels. The most significant increases were in the “other products”(+3.6%) and metal products (+3.9%) trade groups.

SKF
has acquired Cirval S.A., a manufacturer of centralized lubrication systems. Cirval has annual sales of about $2.5 million and 60 employees. The company is based in Rosario, Argentina. More

SKF plans to transfer the manufacturing of automotive seals products from its facility in Elgin, IL, to other SKF seals factories in Mexico and the U.S. SKF said that the consolidation was necessary to remain competitive in the U.S. automotive market. More
Emerson, St. Louis, MO, reported sales for fiscal 2008 were $24.8 billion, an increase of 12 percent. Sales for the fourth quarter ended Sept. 30, 2008, were $6.7 billion, an increase of 11 percent. Underlying sales in the quarter grew 7 percent. More
Applied Industrial Technologies, Cleveland, OH, reported sales for the first quarter ended Sept. 30, 2008, were up 4.9 percent to $543.9 million. Profit was down to $22.5 million from $24.4 million last year. Same-store sales in the U.S. were slightly down primarily due to weak housing and automotive markets. More
Crane Co., Stamford, CT, a diversified manufacturer of highly engineered industrial products, reported third quarter 2008 profit of $36.1 million compared with third quarter 2007 net loss of $196.9 million. Third quarter 2008 sales decreased $21.4 million, or 3 percent, including core business decline of $27.9 million (4 percent) partially offset by an increase of sales from acquired businesses of $3.8 million and favorable foreign currency translation of $2.7 million.  More
United Rentals, Inc., Greenwich, CT, reported third quarter sales of $873 million, down 11.8 percent from the third quarter 2007. Rental revenue accounted for $677 million. Profit declined 33.9 percent to $74 million. Continued softness in the company’s end market were the primary factor in the decline. More
Industrial gases provider Praxair, Inc., Danbury, CT, reported third quarter profit of $355 million, an increase of 16 percent over the third quarter of 2007. Sales were $2.9 billion, up 20 percent from the prior-year quarter. Year-to-date, the company reported sales of $8.4 billion, up 22 percent from the same period a year ago. Profit improved 17.4 percent to $1 billion. More
Sealed Air Corp., Elmwood Park, NJ, sales for the third quarter of 2008 increased 5 percent to $1.22 billion. Sales for the nine-month period increased 8 percent to $3.68 billion, compared with $3.4 billion for the same period in 2007. More
AMETEK, Inc., Paoli, PA, has acquired U.K.-based Muirhead Aerospace Limited, a manufacturer of motion technology products and a provider of avionics repair and overhaul services for the aerospace and defense markets. Muirhead Aerospace is a subsidiary of Esterline Technologies Corporation, and has estimated 2008 sales of $54 million. More
Moro Corp., Wayne, PA, reported sales of $22.8 million for the third quarter 2008, an increase of 28.1 percent from 2007. Profit was down 12.6 percent. MoreChicago, IL-based W. W. Grainger, Inc. has appointed Michael A. Pulick, senior vice president for Customer Service, to president, Grainger Industrial Supply. Pulick is replacing Y.C. Chen, 61, who will stay on in a special advisory role with the company. Pulick joined Grainger in 1999 from General Electric. More
Fairmont Supply Company, Canonsburg, PA, distributor of industrial maintenance, repair and operating supplies, has acquired Pennsylvania-based North Penn Pipe &Supply. Based in Warren, PA, North Penn Pipe &Supply is a supplier to the oil and gas industry. North Penn Pipe &Supply will operate under its current name.  More
Interline Brands, Jacksonville, FL, distributor and direct marketer of MRO products, reported sales for the third quarter 2008 were down 3.8 percent to $317.5 million from the 2007 period. Profit was $13.7 million, down from $15.9 million in the prior-year period. Interline’s facilities maintenance end-market, which comprised 70 percent of sales, declined 2.4 percent during the third quarter on an average daily sales basis, and 3.7 percent on an average organic daily sales basis. More
Bosch Rexroth AG has agreed to purchase Germany-based Interlit Joistgen GmbH, a developer of systems for cooling and lubrication. Additionally, Bosch Rexroth has agreed to acquire the associated German production company MSG Maschinen- und Stahlbau GmbH. More

DXP Enterprises, Inc., Houston, TX, reported third quarter sales were $186.9 million, up 75.1 percent from the third quarter 2007. Profit increased 56.9 percent to $7 million. Businesses acquired in 2007 and 2008 contributed $65.7 million to quarterly sales. Profit for the nine months ended Sept. 30, 2008, was $18.8 million, up 62 percent from the prior year period. Sales increased 97.0 percent to $543.2 million. More
BlueLinx Holdings Inc., Atlanta, GA, a distributor of building products in North America, reported a net loss of $2.6 million for the third quarter ended Sept. 27, 2008, compared with profit of $0.9 million in the year-ago period. Sales declined 28.5 percent to $727 million. For the nine months ended Sept. 27, 2008, net loss totaled $6.6 million on revenues of $2.28 billion, compared with profit of $6.1 million on revenues of $3.06 billion a year ago.  More
3M, St. Paul, MN, and Illinois Tool Works Inc., Glenview, IL, reached a mutual settlement concerning issues in patent infringement litigation brought by 3M in June 2006 in the U.S. District Court for the District of Minnesota. The case involved 3M’s patent covering its paint preparation system products. Under the terms of the agreement, ITW acknowledged the validity and enforceability of 3M’s patent rights and has taken a license under 3M patents. In addition, the parties have entered into a supply agreement under which 3M will supply a portion of ITW’s DeKups system. Other specifics of the agreement are confidential. More
Kaman Corp., Bloomfield, CT, reported sales of $335.1 million for the third quarter ended Sept. 26, 2008, an increase of 21.9 percent from the prior-year period. Profit from continuing operations was $13.5 million, an increase of 43.6 percent from the third quarter 2007. The Industrial Distribution segment reported third quarter sales of $204.3 million, an increase of 14.7 percent from a year ago. Organic sales growth in the quarter was 7.1 percent. More
Huttig Building Products, Inc., St. Louis, MO, a domestic distributor of millwork, building materials and wood products, reported sales for the third quarter ended Sept. 30, 2008, declined 22 percent to $182.8 million in a year-over-year comparison. The company reported a loss of $7.7 million, compared to a loss of $0.1 million in third quarter 2007. More
United Stationers Inc., Deerfield, IL, master distributor of business, janitorial/breakroom and industrial products, reported sales of $1.3 billion for the third quarter 2008, an increase of 12 percent over the prior year quarter. Profit increased 20 percent to $33.1 million. The December 2007 acquisition of ORS Nasco contributed 7 percent to the growth rate. Product category sales were up nearly 15 percent in janitorial/breakroom, up 2 percent in technology, and down 10 percent in furniture. Traditional office products grew 3 percent, driven by a significant increase in cut sheet paper.  More
Parker Hannifin Corp., Cleveland, OH, manufacturer in motion and control technologies, has acquired four companies. Nexgen Hose Inc., Fergus, Ontario, Canada, is a manufacturer of industrial PVC hose and tubing for niche and industry standard applications. In 2007, Nexgen recorded revenues of $7.2 million. The second acquisition, Matrx nitrous oxide delivery systems from the Midmark Corp., will allow Parker to expand its geographic market space for dental nitrous systems to global markets outside its current North American base of operations. Midmark’s sales of the Matrx product line in its most recent fiscal year were $7 million. 
Parker Hannifin’s third acquisition, Aqua Pro, a manufacturer of reverse osmosis filtration systems for military, commercial and pleasure marine applications, had sales in 2008 of $33 million. Finally, Parker has acquired Malaysia-based EmiTherm Sdn Bhd, a provider of electromagnetic interference (EMI) shielding and thermal management products. More
WinWholesale Inc., Dayton, OH, has opened Seattle Windustrial in Kent, WA, to provide mechanical contractors from Olympia to Bellingham with a complete line of pipes, valves, fittings and accessories. More
Barnes Group Inc., Bristol, CT, an international aerospace and industrial components manufacturer and logistical services company, reported third quarter 2008 profit of $28.9 million, an 4.6 percent increase over the prior year third quarter. Sales declined 6.5 percent for the quarter to $337 million. Barnes Distribution sales dropped 6.4 percent to $123.5 million in the third quarter of 2008. Organic sales decreased $9.6 million, or about 7 percent. Lower sales were driven by softening in the North American transportation and manufacturing-related segments, and lower organic sales in Europe. More
Manufacturing contracted in October, according to the the nation’s supply executives in the latest Manufacturing ISM Report on Business. The PMI indicates a significantly faster rate of decline in manufacturing when comparing October to September. According to ISM, it appears that manufacturing is experiencing significant demand destruction as a result of recent events, with members indicating challenges associated with the financial crisis, interruptions from the Gulf hurricane, and the lagging impact from higher oil prices. This is the lowest level for the PMI since September 1982 when it registered 38.8 percent. More

A significant decline in the automotive sector brought to an end a string of five consecutive monthly increases in Canadian wholesale sales in August, which dropped 1.5% to $45.7 billion in current dollars. Sales excluding the automotive

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