MDM News Digest 4015

News briefs from July 26-Aug. 10, 2010.

The Fastenal Company, Winona, MN, is facing potential litigation by the government, which notified the distributor this month that an audit found it may have overcharged government customers, Fastenal said in its latest quarterly report filed with the SEC. More

Kaman Corp., Bloomfield, CT, reported sales for the second quarter ended July 2, 2010, were $317.1 million, an increase of 8.2 percent over the same period a year ago. Profit decreased 35.3 percent to $6.1 million. For the first six months, sales were $593.9 million, down 1.1 percent versus the prior year period. Profit fell 47.3 percent to $7.8 million. More

United Stationers Inc., Deerfield, IL, announced that Larry D. Davis has been promoted to the position of president, ORS Nasco.

United Stationers Inc. reported sales for the second quarter were $1.22 billion, up 5.3 percent from second quarter 2009. Profit increased 27.4 percent to $27 million. For the first six months, sales were $2.38 billion, up 4.1 percent. Profit increased 30.3 percent to $45.2 million. More

BlueLinx Holdings Inc., Atlanta, GA, has formed a special committee to evaluate a recent takeover offer from Cerberus, ABP Investor LLC. The offer was for $3.40 a share. BlueLinx Holdings Inc. reported sales for the second quarter were $540.8 million, up 27.7 percent. The distributor recorded a net loss of $3.4 million, compared to a year-ago net loss of $0.6 million. More

Applied Industrial Technologies, Cleveland, OH, has acquired UZ Engineered Products, Cleveland, OH. UZ is a distributor of products for maintenance, repair and operational needs. More

Applied Industrial Technologies Ltd., the Canadian subsidiary of Applied Industrial Technologies, Inc., has acquired the business of SCS Supply Group Inc., formerly known as Toronto Bearing & Belting and CBS Equipment. More

WinWholesale, Dayton, OH, has launched the Bath & Kitchen Ideas Centers by Winnelson and Noland, an interactive website for consumers, designers, plumbing contractors, builders and remodelers. More

Amrep, Inc., a wholly owned subsidiary of Zep Inc., Atlanta, GA, has agreed to acquire Waterbury Companies, Inc., a manufacturer of air care delivery systems, for $66 million. More

The value of building permits in Canada totaled $6.6 billion in June, up 6.5 percent from May and a 24.9 percent increase from June 2009. Non-residential permits increased 23.5 percent from May. Residential permits fell 4.5 percent. More

July saw growth of the global manufacturing sector cool further from the post-recession peak reached in April. The JPMorgan Global Manufacturing PMI posted 54.3, its lowest reading in eight months but still consistent with a solid rate of expansion. More

Manufacturing expanded in July, according to the latest Manufacturing ISM report on business. The Purchasing Managers Index was at 55.5, compared with 56.2 in June. More

Construction spending in June 2010 was estimated at a seasonally adjusted annual rate of $836 billion, 0.1 percent above May and 7.9 percent below June 2009, according to the U.S. Census Bureau of the Department of Commerce. During the first six months of the year, construction spending was $389.6 billion, 11.2 percent below the same period in 2009. More

June U.S. manufacturing technology consumption totaled $241.47 million, according to the Association For Manufacturing Technology and the American Machine Tool Distributors’ Association. This total, as reported by companies participating in the USMTC program, was up 35.8 percent from May and up 71.1 percent from $141.12 million reported for June 2009. With a year-to-date total of $1,207.60 million, 2010 is up 56.1 percent compared with 2009. More

Real gross domestic product – the output of goods and services produced by labor and property in the U.S. – increased at an annual rate of 2.4 percent in the second quarter of 2010, (first quarter to second quarter), according to the advance estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 3.7 percent. More

The Canadian Industrial Product Price Index (IPPI) fell 0.9 percent in June, led by petroleum and metals. The Raw Materials Price Index (RMPI) declined 0.3 percent, largely because of lower prices for non-ferrous metals and animals and animal products. More

New orders for manufactured durable goods in June decreased $2 billion, or 1 percent, to $190.5 billion, according to the U.S. Census Bureau. This was the second consecutive monthly decrease. Excluding transportation, new orders decreased 0.6 percent. Excluding defense, new orders fell 0.7 percent. More

The Chicago Fed Midwest Manufacturing Index (CFMMI) decreased 0.5 percent in June, to a seasonally adjusted level of 79.4. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) decreased 0.3 percent in June. Regional output in June rose 13.2 percent from a year earlier, and national output increased 8.9 percent. More

Interline Brands, Inc. reported sales for the second quarter were $270.2 million, up 0.1 percent in a year-over-year comparison. Profit increased 41.6 percent to $$9.1 million. Sales for the first six months were $515.4 million, a 2.2 percent decrease. Profit increased 58 percent to $14.7 million. More

Barnes Group Inc., Bristol, CT, reported sales for the second quarter were $281.9 million, up 10 percent from second quarter 2009. Profit increased 42 percent to $14.8 million. For the six months ended June 30, sales were $560 million, up 8 percent. Profit increased 22 percent to $26.7 million. More

Weyerhaeuser Company, Federal Way, WA, reported second quarter sales of $1.8 billion, an increase of 28.6 percent over second quarter 2009. Profit was $14 million, compared with a loss of $106 million for the same period a year ago. More

Louisiana-Pacific Corp., Nashville, TN, reported sales for the second quarter were $447 million, up 67 percent from second quarter 2009. Profit was $22.3 million, compared to a year ago loss of $29.2 million. For the first six months, sales were $744 million, up 57 percent. The half-year loss was $0.2 million, compared to a year-ago loss of $59.7 million. More

Beacon Roofing Supply, Inc., Peabody, MA, reported sales for the third quarter were $474.3 million, an increase of 2.3 percent. Organic sales declined 0.1 percent. Profit declined 5.2 percent to $16.3 million. More

Arrow Electronics, Inc., Melville, NY, has agreed to acquire Shared Technologies Inc., Coppell, TX. Total sales in 2009 for Shared were approximately $250 million. More

Huttig Building Products, St. Louis, MO, reported sales were up 11.7 percent in the three months ended June 30, 2010, to $133.9 million. The distributor reported a net loss of $2.3 million. For the first six months, Huttig reported sales of $237.4 million, up 8 percent from the prior-year period. The distributor had a net loss of $8.1 million in the first half. More

Paris-based Rexel, reported sales were up 2.3 percent in the second quarter 2010. North America had a slight drop of 1.7 percent in the quarter; Europe (59 percent of sales) had 3.6 percent growth; and Asia-Pacific saw growth of 9.9 percent. More

Arrow Electronics, Inc., Melville, NY, reported sales for the second quarter were $4.61 billion, an increase of 36 percent over the same period a year ago. Profit was $116.2 million, compared to profit on $21.1 million. For the first six months, profit was $203.2 million on sales of $8.85 billion, compared with profit of $47.8 million on sales of $6.81 billion in the first six months of 2009. More

Praxair, Inc., Danbury, CT, reported second-quarter sales of $2.53 billion, an increase of 18 percent over the previous year quarter. Profit increased 24 percent to $371 million. For the first six months, sales were $4.96 billion, up 16 percent. Profit increased 16 percent to $685 million. More

Lawson Products, Inc., Des Plaines, IL, reported sales in the second quarter were up 6.9 percent to $101.6 million from the prior-year period. Profit was $1.7 million, compared with $1.8 million. Sales for the first six months were $196.7 million, up 1.2 percent. Profit was $4 million, compared with a loss of $4.1 million last year. More

Anixter International Inc., Glenview, IL, reported sales for the second quarter ended July 2, 2010, were $1.37 billion, up 12 percent over the prior year period. Profit was $34.6 million, compared to a year-ago loss of $89.8 million. Excluding the impact of foreign exchange and copper prices, sales increased 9.3 percent. More

Gibraltar Industries, Inc., Buffalo, NY, reported sales from continuing operations in the second quarter 2010 were $192 million, unchanged from the second quarter 2009. Income from continuing operations before special charges in the second quarter of 2010 increased to $4.1 million. More

RBC Bearings Inc., Oxford, CT, reported sales for the first quarter fiscal year 2011 were up 29.3 percent to $82.4 million. Profit was $9.1 million. More

Rexnord LLC, Milwaukee, WI, reported sales for the first quarter of $407 million, an increase of 11 percent. Core sales grew 10 percent. The company reported a net loss of $116.3 million, compared with a year-ago net loss of $24 million. More

Emerson, St. Louis, MO, reported sales for the third quarter were $5.6 billion, up 11 percent. Underlying sales increased 7 percent, which excludes a 3 percent impact from acquisitions and a 1 percent impact from favorable currency exchange rates.  More

Parker Hannifin Corp., Cleveland, OH, reported sales for the fiscal 2010 fourth quarter were $2.8 billion, up 26 percent from the same quarter a year ago. Profit for the quarter was $222.2 million, up from $49.5 million. Full-year sales were $10 billion, down 3.1 percent. Profit was up 9 percent to $554.1 million. More

Schneider Electric, Rueil-Malmaison, France, reported sales for the second quarter were €4.66 billion (US$6.14 billion), an increase of 18.5 percent over the same period a year ago. Organically, sales grew 10.2 percent. For the first six months, sales were €8.57 billion (US$11.3 billion), and profit was €735 million (US$968.5 million). More

Stanley Black & Decker, New Britain, CT, has acquired Houston, TX-based CRC-Evans International, a global supplier of specialized tools, equipment and services for the construction of oil and natural gas transmission pipelines, for $445 million in cash. More

The Timken Company, Canton, OH, reported sales of $1 billion in the second quarter of 2010, an increase of 37 percent over the same period a year ago. For the first half of 2010, sales were $1.9 billion, up 20 percent. Income from the company’s continuing operations, net of non-controlling interest, was $109.7 million, compared with a loss of $34.5 million a year ago. More

Kennametal Inc., Latrobe, PA, reported fiscal 2010 fourth quarter sales of $539 million, up from $386 million in the same quarter last year. Profit was $40.9 million for the fourth quarter. Sales were $1.9 billion in fiscal 2010 compared with $2 billion in the previous fiscal year. Profit was $46.4 million. More

Encore Wire Corp., McKinney, TX, reported sales for the second quarter were $236.1 million, up 48 percent over second quarter 2009. Profit was $8.1 million, compared to $0.6 million for the same period a year ago. Sales for the six months were $411.3 million, up 35 percent. Profit increased 10 percent to $5.7 million. More

Flowserve Corp., Dallas, TX, reported second quarter sales were $961 million, down 11.9 percent from second quarter 2009. Profit declined 15.3 percent to $91.6 million. For the first six months, sales were $1.92 billion, down 9.2 percent. Profit fell 14.3 percent to $171.9 million. More

The Manitowoc Company, Inc., Manitowoc, WI, reported sales of $876.5 million for the second quarter of 2010, down 12.4 percent from the second quarter of 2009. Profit was $14.1 million, compared to a year-ago loss of $12.3 million. More

Sealed Air Corp., Elmwood Park, NJ, reported second quarter sales of $1.09 billion, up 6 percent over second quarter 2009. Profit increased 11 percent to $67 million. For the first six months, sales were $2.15 billion, up 7 percent. Profit improved 8 percent to $128.1 million. More

Crane Co., Stamford, CT, reported sales for the second quarter 2010 were $552.8 million, up 1.3 percent from the prior-year period. Core sales increased 1.2 percent. Order backlog was $714 million at June 30, 2010, compared to $664 million at Dec. 31, 2009, and $697 million at June 30, 2009. More

Hexcel Corp., Stamford, CT, reported second-quarter sales of $305.1 million, up 10 percent over second quarter 2009. Profit improved 37.5 percent to $23.1 million. For the first six months, sales were $568.1 million, down 2.8 percent from the same period a year ago. Profit fell 3.2 percent to $38.9 million. More

Carlisle Companies Inc., Charlotte, NC, reported sales from continuing operations of $709.4 million for the quarter ended June 30, 2010, an 11 percent increase from the second quarter of 2009. Organic sales increased by 8.6 percent. More

Fluor Corp., Irving, TX, reported sales of $5.2 billion for the second quarter, a decline of 2 percent from the same period last. Profit declined 7 percent to $157 million. For the first six months, sales were $10.1 billion, down 9 percent. Profit declined 21 percent to $294 million. More

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