Eric Smith

Slowly but surely, despite a rash of stops and starts over the last few months, the economic recovery is forging ahead. Amid continued uncertainty around COVID-19 and all its sordid companions, the fourth quarter of 2020 marked yet another period of companies solidifying their financial footing, according to preliminary results of the latest quarterly MDM-Baird […]

The combined value of distributive trade sales and manufacturers’ shipments for November, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,480.8 billion, up 1.5% from November 2019 but down 0.1% from October 2020, according to the U.S. Census Bureau. Manufacturers’ and trade inventories for November, adjusted for seasonal […]

Total industrial production grew 1.6% in December, according to the Industrial Production and Capacity Utilization Report, released Friday by the Federal Reserve. The index has recovered much of its 16.5% decline from February to April, but output in December was still 3.5% lower than its pre-pandemic February level. For the fourth quarter as a whole, […]

Brady Industries, a Las Vegas-based full-line janitorial supply, equipment and foodservice distributor, this week appointed Mark Allen to the newly created position of vice president of procurement, effective immediately. In this role, Allen “will manage the day-to-day operations of the purchasing department with a strategic focus on product sourcing, inventory management and vendor programs,” the […]

William Genuine Parts Co. (NYSE: GPC), the Atlanta, Georgia-based parent of distributor Motion Industries, this week announced it has appointed William P. Stengel as president. Stengel, 43, was previously executive vice president and chief transformation officer of the company and becomes only the eighth president in the company’s 93-year history. He will continue to report to Paul Donahue, […]

Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Jan. 4 to Jan. 8 increased 18.4% — the third straight week of double-digit growth and a strong start to the new year. “Last week, we saw an expected spike due to differences in how the holidays fell last year versus […]

Switzerland-based fastener distributor The Bossard Group on Thursday reported its full-year 2020 sales fell 3.3% to CHF 812.8 million (US$916.5 million) compared to 2019. Sales for the period were down 7.2% in local currency as a result of a stronger Swiss franc. In the year, sales in America totaled CHF 201.2 million (US$226.9 million), down […]

Houston Wire & Cable Co. (Nasdaq: HWCC), Houston, Texas, on Wednesday announced that it has agreed to sell its Southwest Wire Rope business in an asset transaction for $5 million. The sale of Southern Wire Rope, a Houston-based provider of lifting slings and wire rope and rigging products, excludes $2.6 million of trade accounts receivable, […]

PPG (NYSE: PPG), Pittsburgh, Pennsylvania, on Wednesday announced that it has established a new business unit called Traffic Solutions, following the company’s December 2020 acquisition of Ennis-Flint. PPG said the business unit “will manufacture and supply a broad, global portfolio of pavement-marking products, including paint, thermoplastics and other advanced technologies, to customers in government, military, contracting, […]

Kaman Distribution Group, Bloomfield, Connecticut, on Wednesday announced the appointment of Chris Henson as vice president of business development. Most recently, Henson served as a vice president in The Timken Co.’s industrial bearings business leading product management and engineering. In addition, he held the position of vice president of corporate development and strategy at Timken. […]

Electrical and industrial distributor Turtle & Hughes, Linden, New Jersey, on Wednesday announced it promoted four executives with close to 90 years of combined service to the company. The company’s new senior vice presidents include Norman Blumenthal and Billy Wresch, and Shiv Singh and Izabela Legocka were promoted to vice president. “Our culture is based […]

Wayne, Pennsylvania-based buying group AD on Wednesday announced that its member-owners have elected two new directors and reelected one director to its 2021 LLC board of directors. AD’s two newly elected directors are Steve Drummond, president of Source Atlantic, and Don McNeeley, chairman and CEO of Chicago Tube & Iron. Lenin Juarez, managing partner at […]

ABCO HVACR Supply + Solutions, Long Island City, New York — a full line distributor of HVAC and refrigeration systems and supplies in the Northeastern United States — has been acquired by Houston-based Daikin North America LLC. Daikin is a subsidiary of Daikin Industries Ltd., the Japanese largest manufacturer of heating, cooling and refrigerant products. […]

Building materials distributor Beacon Roofing Supply Inc. (Nasdaq: BECN), Herndon, Virginia, on Tuesday announced that COO Eric Swank will be leaving the company at the end of February. The company didn’t say why Swank is stepping down from his post. Swank spent 16 years at Beacon, serving in senior executive roles of increasing importance and […]

W.W. Grainger Inc. (NYSE: GWW), Chicago, Illinois, on Tuesday announced the appointments of CFO and president of the Grainger Business Unit, effective immediately. The MRO distributor named Deidra “Dee” Merriwether, currently senior vice president and president, North American Sales and Services, as CFO. And the company named Paige Robbins, currently SVP, chief technology, merchandising, marketing and strategy […]

Material Handling Systems Inc. (MHS), Washington, Kentucky, will acquire certain U.S. conveyor assets, located in Norton Shores, Michigan, of TGW Logistics Group, Marchtrenk, Austria. Financial terms of the deal weren’t disclosed. The contract between the two companies has been signed and the acquisition is expected to take effect in February 2021. Lincoln International advised TGW […]

Swedish bearings manufacturer SKF on Monday announced it has appointed Rickard Gustafson as its new president and CEO. Gustafson, who succeeds Alrik Danielson, will join SKF during the first half of the year. Gustafson is currently the president and CEO of the SAS Group. He also was the CEO of the insurance company Codan/Trygg Hansa […]

U.S. manufacturing technology orders totaled $330.3 million, a 1.4% increase from the same month a year ago, according to the U.S. Manufacturing Technology Orders report published Monday by AMT – The Association For Manufacturing Technology. However, new orders placed in November marked a 13.3% decrease from October. Orders to date reached $3.39 billion, a decrease […]

Hillenbrand Inc. (NYSE: HI), Batesville, Indiana, on Monday announced that it has agreed to sell Abel Pumps LP to IDEX Corp. (NYSE: IEX) for $103.5 million. The sale follows Hillenbrand’s previously announced intent to exit the ABEL business and is expected to be completed in Hillenbrand’s second fiscal quarter. “We are pleased to announce that […]

PPG (NYSE:PPG), Pittsburgh, Pennsylvania, on Monday announced that it has agreed to acquire Wörwag, a Stuttgart, Germany-based manufacturer of coatings for industrial and automotive applications. Financial terms of the deal, which is expected to close in the first half of 2021, weren’t disclosed. “Wörwag’s industry expertise in powder and liquid coatings for industrial and automotive […]