Eric Smith

Much has changed since our last look at the overall economic picture a month ago. The presidential race heated up. The stock market came back down to earth. And another round of industry reports indicated moderate improvement in some categories coupled with eye-opening declines elsewhere for both the U.S. economy as a whole and distribution […]

Winsupply Inc., Dayton, Ohio, broke ground Wednesday on the future home of the Richard W. Schwartz Center for Innovation. Located in Moraine, the facility will also be the new home of Winsupply of Dayton, a local distributor serving plumbing contractors in the Dayton market. Winsupply of Dayton will move from its current location at 427 […]

Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Sept. 14-18 indicated a sales increase of 4.9% versus the same week in 2019, which is the largest increase outside of a week distorted by a holiday. For example, the PRI for the weeks that included Memorial Day, the Fourth of […]

Bearings manufacturer SKF, Gothenburg, Sweden, announced it is investing approximately SEK 550 million (US$61.7 million) in strengthening its manufacturing footprint and competitiveness in North America. Approximately SEK 350 million (US$39.3 million) is being invested in expanding and automating manufacturing processes at the group’s factory in Sumter, South Carolina. A further SEK 200 million (US$22.5 million) is being invested in localizing manufacturing of Tapered […]

Atlanta-based office product distributor Veritiv (NYSE: VRTV) announced that Salvatore A. “Sal” Abbate has been named the company’s CEO. Current board member Stephen E. “Steve” Macadam has been named chairman of the board as Mary A. Laschinger, current chairman and CEO, is retiring from the organization. Both appointments are effective September 30, 2020. “My tenure as Veritiv […]

United Rentals, Inc. (NYSE:URI), Stamford, Connecticut, announced that Paul McDonnell, chief commercial officer, will leave the company on September 30. McDonnell will continue to provide advisory services to United Rentals in an independent capacity for 24 months. His leadership responsibilities with respect to sales and specialty operations will be absorbed under Dale Asplund, chief operating officer. Matthew Flannery, CEO of United Rentals, said, […]

Led by some further moderation in the growth of production-related indicators, the Chicago Fed National Activity Index (CFNAI) declined to +0.79 in August from +2.54 in July. Two of the four broad categories of indicators used to construct the index made positive contributions in August, but all four categories decreased from July. The index’s three-month […]

Accounts receivable is one of the least automated processes in any business, and during a time of disruption — such as, say, a global pandemic — this can result in reduced efficiencies and delayed payments. All of which can negatively impact the bottom line. However, distributors looking to get paid faster while also cutting costs […]

U.S. cutting tool consumption totaled $137.8 million in July, according to the U.S. Cutting Tool Institute (USCTI) and The Association For Manufacturing Technology (AMT). This total, as reported by companies participating in the Cutting Tool Market Report collaboration, was down 30.6% when compared with the $198.5 million reported for July 2019 and down 8.5% from […]

EPTDA — the executive association for industrial distribution distributors and manufacturers across Europe, the Middle East and Africa — this week announced the appointment of its new 2021/22 board of directors and president, effective 1 October 2020. EPTDA named Des Spillings, managing director, Acorn Industrial Services Ltd UK, as its new president. Spillings’ presidential term […]

Investment is in the DNA of Tacoma, Washington-based industrial distributor Stellar Industrial Supply. The company has continually invested in new technologies ever since its founding in 1988 — but especially in the last few years, according to President and CEO John Wiborg. “About five or six years ago, we started looking at the types of investments […]

Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Sept. 7-11 indicated a 12.7% decrease compared with the same week a year ago. The drop was expected as the week’s index compared four selling days in 2020 (due to Labor Day) with five selling days in 2019 (no Labor Day). […]

US LBM Holdings, a distributor of specialty building materials in the United States, has opened a new roofing and siding location in Manchester, Connecticut. The location is the company’s’s ninth new roofing and siding focused greenfield since 2018. US LBM opened a similar roofing and siding focused location in nearby Newington earlier this year. “US […]

Chattanooga, Tennessee-based industrial distributor Bolts & Nuts Corp. announced this week that it has changed its name and re-branded as Stock’d Supply. The new name is “in recognition of the several recent acquisitions it has closed as well as organic investment in technology and an expanded products and services offering,” the company said. In addition […]

Chattanooga, Tennessee-based industrial distributor Bolts & Nuts Corp. announced this week that it has changed its name and re-branded as Stock’d Supply. The new name is “in recognition of the several recent acquisitions it has closed as well as organic investment in technology and an expanded products and services offering,” the company said. In addition […]

The U.S. Census Bureau announced Wednesday that the combined value of distributive trade sales and manufacturers’ shipments for July — adjusted for seasonal and trading day differences but not for price changes — was estimated at $1.4 trillion, up 3.2% (±0.2%) from June but down 1.2% (±0.4%) from July 2019. Manufacturers’ and trade inventories for […]

Total industrial production rose 0.4% in August after increasing 3% in July, according to the Industrial Production and Capacity Utilization Report, released Tuesday by the Federal Reserve. Manufacturing output continued to improve in August, rising 1%, but the gains for most manufacturing industries have gradually slowed since June. Mining production fell 2.5% in August, as […]

3M (NYSE: MMM), St. Paul, Minnesota, reported total sales for August increased 2% year-over-year to $2.7 billion. Organic local-currency sales (which includes organic volume impacts and selling price changes) declined 2% while acquisitions, net of divestitures, and foreign currency translation increased sales year-over-year by 3% and 1%, respectively. Total sales increased 23% in Health Care, 6% […]

Industrial distributor The NEFCO Corp. on Monday announced the opening of a new location in Syracuse, New York to further support and service the professional contractor trades in Central New York. It’s NEFCO’s third location in New York State. “We are excited to expand our New York footprint and continue to provide an extensive product […]

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