News Digest 4905 - Modern Distribution Management

News Digest 4905

MDM's top news briefs from News briefs from February 26 - March 10, 2019.

Distributor

Dana Incorporated, Maumee, Ohio, has completed its acquisition of the Drive Systems segment of the Oerlikon Group, announced last summer. More.

Newcastle Systems, Haverhill, Massachusetts, a provider of mobile-powered workplace solutions designed to make warehouses, manufacturing facilities and retail floors more efficient, has announced a new partnership with Andreas Laubner GmbH, Maxdorf, Germany.  More.

Building materials distributor Huttig Building Products Inc., St. Louis, Missouri, reported sales for 2018 of $839.6 million, a 11.5% increase from the previous year. The company reported a loss of $6.4 million, compared to a loss of $7.1 million the previous year. Sales for the fourth quarter were $196.2 million, up 9.5% from the prior-year period. The company reported a loss of $7.3 million for the quarter, compared to a loss of $9.8 million the same period the previous year. More.

The Home Depot, Atlanta, GA, reported fiscal fourth-quarter sales of $26.5 billion, up 11% compared to the year-ago period. Net earnings were $2.3 billion compared with $1.8 billion a year ago, the company reported. For its full fiscal year 2018, The Home Depot said sales rose 7.2% to $108.2 billion. Company leaders said they maintain a positive outlook on fiscal 2019. More.

Lowe's Companies Inc., Mooresville, NC, reported sales of $15.6 billion for the fourth quarter ended February 1, 2019, up just slightly compared with $15.5 billion in the fourth quarter of 2017. The home improvement retailer reported a net loss of $824 million, which included pre-tax charges of $1.6 billion, compared to net earnings of $554 million in the fourth quarter of 2017.   More.

Lawson Products Inc., Chicago, IL, reported fourth-quarter sales of $86.3 million, up 7% compared with the year-ago period. Full-year sales grew 14% to $349.6 million, the company said. The distributor reported net income of $2.6 million for the quarter, down from $20.2 million a year ago, which included a one-time tax benefit of $20.4 million, the company said. Adjusted net income, excluding the one-time tax benefit in 2017 and other non-recurring adjustments, improved by $1.6 million, the company said. More.

Veritiv Corp., Atlanta, GA, reported sales for 2018 of $8.7 billion, a 4% increase from 2017. The company reported a loss of $15.7 million, compared to a loss of $13.3 million last year. For the fourth quarter, sales were $2.2 billion, up 0.3% year-over-year. Profit was $9.3 million, down from $12.3 million in the prior year period. More.

Reliance Steel & Aluminum Co., Los Angeles, CA, reported 2018 sales of $11.5 billion, up 18.7% from 2017. Profit was $633.7 million, compared to $613.4 million the previous year. Fourth-quarter sales were $2.8 billion, up 18.4% from the fourth quarter of 2017. Profit was $85.6 million, compared to $301.4 million in the fourth quarter of 2017. More.

Builders FirstSource Inc., Dallas, TX, reported fourth-quarter sales of $1.8 billion, up 2% compared to the year-ago period. Net income was $52 million, compared with a net loss of $42.7 million in the fourth quarter of 2017. For the full year, sales rose 10% to $7.7 billion and net income was $205.2 million, compared to $38.8 million a year ago. More.

Sales for HARDI distributor members increased by increased by 4.4% in January, according to the monthly TRENDS report. The average annualized growth for the 12 months through January 2019 is 10.4%.  More.

Sonepar USA, Charleston, SC, a subsidiary of the privately held France-based Sonepar Group, has named Chris Butterfield vice president of finance for North Coast Electric, a Sonepar USA business. More.

NetPlus Alliance, an industrial and contractor supplies buying group, has named veteran marketing leader Robert Louden to its team as Marketing Director. More.

Economic

Economic activity in the manufacturing sector expanded in February, and the overall economy grew for the 118th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business. The February PMI registered 54.2%, a decrease of 2.4% from the January reading of 56.6%. The New Orders Index registered 55.5%, a decrease of 2.7% from the January reading of 58.2%. The Production Index registered 54.8%, 5.7% decrease compared to the January reading of 60.5%. The Employment Index registered 52.3%, a decrease of 3.2% from the January reading of 55.5%.  More.

U.S. construction spending during December 2018 was estimated at a seasonally adjusted annual rate of $1,292.7 billion, 0.6% below the revised November estimate of $1,300.6 billion, according to new data from the U.S. Census Bureau.  More.

Manufacturer

Diversified industrial manufacturer Eaton Corp., Dublin, Ireland, intends to pursue a tax-free spin-off of its Lighting business. The spin-off will create an independent, publicly traded company and is expected to be completed by the end of 2019. Goldman Sachs is serving as Eaton’s financial advisor on the transaction. More.

SureWerx, Elgin, IL, a supplier of professional tools, equipment and safety products, has acquired ADA Solutions, Inc. More.

PPG Industries, Pittsburgh, has acquired Whitford Worldwide Company, Elverson, Pennsylvania, a global manufacturer that specializes in low-friction and nonstick coatings for industrial applications and consumer products. More.

Swedish manufacturer Atlas Copco has acquired the Appleton Compressor Service & Supply, Inc, Appleton, Wisconsin, a distributor of compressors. More.

Emerson, St. Louis, MO, has announced the opening of a new $4 million Permian Basin Service Center in western Teas and southeastern New Mexico to bring enhanced oil and gas technologies and services to the fast-growing region. The technology center is the latest investment in Emerson’s efforts to guide customers on their path to digital transformation and train the workforce of the future. More.

Kaman Corp., Bloomfield, CT, reported sales for 2018 of $1.9 billion, up 3.9% from the prior year. Profit fell 25% to $83.1 million. Distribution sales grew 4.6% for the year to $1.1 billion, while aerospace sales grew 1.5% to $736 million. For the fourth quarter, Kaman Corp. sales were $500.9 million, up 5.7% year-over-year. Profit decreased 17.4% to $34.2 million. Distribution sales rose 6.4% in the fourth quarter to $280 million, compared to the same period a year ago. Aerospace segment sales grew 4.7% to $220.9 million. More.

Curtiss-Wright Corp., Davidson, NC, reported fourth-quarter sales of $649 million, up 6% compared to the fourth quarter of 2017. Net earnings for the quarter were $83 million, up 22% compared to the year-ago period. The manufacturer reported full-year sales of $2.4 billion, up 6% compared to 2017. Net earnings for 2018 were $275.7 million, up 28% compared to 2017. More.

Building materials supplier Saint-Gobain has appointed Mark Rayfield as CEO of Saint-Gobain North America. More.

 

 

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