News Digest 5006 - Modern Distribution Management

Log In

News Digest 5006

MDM's top news briefs from News briefs from March 11 - March 25, 2020.


Switzerland-based power and automation company ABB has completed its previously announced acquisition of a majority stake in Chargedot Shanghai New Energy Technology Co., Ltd., Shanghai.  More.

Building products distributor ABC Supply Co. Inc., Beloit, Wisconsin, has acquired the assets of Exterior Building Supply, Meridian, Idaho, a distributor of siding, gutters and other exterior building materials.  More.

Park-Ohio Holdings Corp., Cleveland, Ohio, reported sales for 2019 of $1.6 billion, a 2.4% decrease from 2018. Profit fell from $53.6 to $38.6 million. For the fourth quarter, the company reported sales of $380 million, down 6.4% over the same period a year ago. Profit fell from $14.8 million to $7.6 million.  More.

Turtle & Hughes has announced that Beverly Jennings has joined the company’s board of directors. Jennings is a retired senior Johnson & Johnson supplier diversity and inclusion executive. More.

Turtle & Hughes, Linden, New Jersey, has announced that it has promoted three of its branch managers to vice president. Brian Fitzgerald, Jeff Smith and John Donohue will service three different geographic regions. More.

Motion Industries, Birmingham, Alabama, a subsidiary of Genuine Parts Company, has promoted Greg Cook to executive vice president and chief financial officer, effective April 1, 2020. More.

Grainger, Chicago, has announced that the company will cancel the Grainger 2020 trade show, citing concerns over the potential spread of the coronavirus (COVID-19). The event was scheduled for March 15-19 and was expected to bring 13,000 attendees to Florida’s Orange County Convention Center. More.

WESCO International, Inc., has announced that, based on current market conditions, it has revised its expectations with respect to the financing of the cash portion of the consideration payable pursuant to the previously announced merger agreement with Anixter International Inc. The company also provided information about WESCO's participation in the J.P. Morgan Industrials Conference on Wednesday, March 11, 2020.  More., Inc.  has announced it will open 100,000 new full and part-time positions across the U.S. in fulfillment centers and delivery network to meet the surge in demand from people relying on Amazon’s service during the Coronavirus (COVID-19). More.

Due to concerns over coronavirus (COVID-19), the Industrial Supply Association has announced that the ISA Board of Directors have voted to cancel ISA Atlanta 2020. The event was scheduled to take place April 20-22 in Atlanta, Georgia. More.

North American buying group AD, Wayne, Pennsylvania, held its first ever live virtual member meeting on March 17, welcoming over 250 member distributors in their Industrial & Safety – U.S. division to the event. AD will be hosting live virtual member meetings for the PHCP, Electrical, and Gypsum Supply divisions in the coming weeks.  More.


Motion control manufacturer Allied Motion Technologies Inc., Amherst, New York, has acquired Dynamic Controls Group, a wholly owned subsidiary of Invacare Corporation, a designer and manufacturer of equipment for the medical mobility and rehabilitation markets.  More.

Switzerland-based power and automation company ABB has completed its previously announced acquisition of a majority stake in Chargedot Shanghai New Energy Technology Co., Ltd., Shanghai.  More.

Hillenbrand, Inc., a global diversified industrial company that makes and sells premium business-to-business products and services for a wide variety of industries, has reached a definitive agreement to sell its Cimcool business to DuBois Chemicals, Inc. The sale follows Hillenbrand's previously announced strategic review of alternatives for this business, which was part of the 2019 acquisition of Milacron Holdings Corp. More.

Motion control manufacturer Allied Motion Technologies Inc., Amherst, New York, reported 2019 sales of $371.1 million, a 19% increase from 2018. Profit increased 7% to $17 million. Sales for the fourth quarter were $87.9 million, a 19% increase year-over-year. Fourth-quarter profit grew from $2.6 million to $3.5 million. More.

Bearings manufacturer NN Inc., Johnson City, Tennessee, reported fourth quarter sales of $198.6 million, a 0.5% decrease over the same period a year ago. The company reported a loss of $14.1 million, compared to a loss of $217.4 million the prior year. Sales for 2019 were $847.5 million, up 10% over the same period in 2018. The company reported a loss of $46.7 million, compared to a loss of $263 million in 2018. More.

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.