SRS Distribution has acquired Presta Contractor Supply, Erie, Pennsylvania, an independently owned distributor of roofing products & accessories, windows, doors, siding and other complementary products. More.
ParkOhio Holdings Corp., Cleveland, has acquired EFCO, Inc. d/b/a Erie Press Systems, Erie, Pennsylvania, a manufacturer of advanced forging presses, hydraulic and mechanical presses, and metal stretch-forming and carbon extrusion machines for several end markets, including aerospace and defense, primary metals and high-speed rail. More.
Genuine Parts Co., Atlanta, has agreed to acquire the remaining 65% stake of Inenco Group, Sydney, Australia. Terms of the transaction were not disclosed. Genuine Parts previously purchased a 35% stake in Inenco in 2017, and held the opportunity to acquire the remaining stake at a later date. More.
Private equity firm High Road Capital Partners has acquired John Henry Foster Minnesota Inc., Eagan, Minnesota. More.
Motor City Industrial, Hazel Park, Michigan, has acquired Quality Fastener and Supply Co., Oxford, Michigan, a distributor of industrial consumables and ancillary products. More.
Amazon.com, Inc., Seattle, is scheduled to open a packing and shipping center in Salem, Oregon. The facility is slated to open in August, bringing 1,000 jobs to the area. More.
Imperial Dade, Jersey City, New Jersey, a national distributor of disposable food service and janitorial supplies, has acquired Strauss Paper Company, Port Chester, New York. More.
Winsupply Inc., Dayton, Ohio, has opened Winsupply of North Portland, Maine, serving electrical contractors in the Greater Portland area including southern Maine and New Hampshire. More.
The Home Depot, Atlanta, reported first-quarter sales of $26.4 billion, a 5.7% increase compared to the year-ago period. Profit rose to $2.5 billion, compared to $2.5 billion during the same period in 2018. Comparable sales for the first quarter of fiscal 2019 were up 2.5%, and comparable sales in the U.S. were up 3%. More.
Descartes Systems Group, Waterloo, Ontario, reported sales for the fiscal 2020 first quarter of $78 million, up 16% from the first quarter of fiscal 2019. Profit increased 4% to $7.3 million. More.
Fairmont Supply Co., Washington, Pennsylvania, distributor of industrial maintenance, repair and operation supplies, has named current CFO Anthony Dodds to the role of president, effective immediately. More.
Industrial distributor MSC Industrial Direct Co. Inc., Melville, New York, has named Edward Martin as senior vice president of sales and customer success. More.
Ferguson Enterprises, Newport News, Virginia, has named Geoff Drabble as non executive director and will succeed Gareth Davis as chairman after the 2019 annual general meeting, subject to shareholder approval. Davis will step down as a director in January 2020 to ensure an orderly handover of responsibilities. More.
Rexnord Corp., Milwaukee, has named Peggy Troy, president and CEO of Children’s Hospital of Wisconsin, and Rose Schooler, corporate vice president, Global Data Center Sales for Intel Corporation, to the company’s board of directors. More.
Sales for HARDI distributor members increased by 22.3% in April 2019, according to the monthly TRENDS report. The average annualized sales growth for the 12 months through April 2019 is 12.6%. More.
RBC Bearings Inc., Oxford, Connecticut, reported sales for the 2019 fiscal fourth quarter of $182.2 million, up 1.3% for the quarter. Sales rose 4% on an organic basis. Profit for the quarter totaled $31.4 million, compared to $26.7 million in the same quarter last year. For the full year, sales totaled $702.5 million, an increase of 4.1% over the previous year. Profit for the year was $105.2 million, compared to $87.1 million in 2018. More.
Material handling products manufacturer Columbus McKinnon Corp., Amherst, New York, reported sales for the fiscal year ended March 31 of $876 million, up 4.4% from the prior year. Profit increased 93% to $42.6 million. More.
Real gross domestic product increased at an annual rate of 3.1% in the first quarter of 2019, according to the second estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2018, real GDP increased 2.2%. More.
Economic activity in the manufacturing sector expanded in May, and the overall economy grew for the 121st consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business. The May PMI registered 52.1%, a decrease of 0.7% from the April reading of 52.8%, according to Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management Manufacturing Business Survey Committee. More.