The Leading Source for Industrial Distribution News
Protect Against High Voltage
November 2, 2010 7:21 am | Product Releases | CommentsMountz (San Jose, CA) offers two styles insulated torque wrenches, the 1000V and 50V. The 1000V Insulated torque wrenches are built to protect against voltages up to 1,000 volts, while the 50V is designed for low voltage applications. The 1000V insulated torque wrenches are available in cam-over wrench models as well as break-over wrench models.
Why Economic Growth Isn't Easing Unemployment
November 2, 2010 5:13 am | by Paul Wiseman, AP Economics Writer | News | CommentsWASHINGTON (AP) — An economy growing 2 percent a year might be tolerable in normal times. Today, it's a near-disaster. A growth rate of 5 percent or higher is needed to put a major dent in the nation's 9.6 percent unemployment rate. Two reasons why that's unlikely well into next year and maybe beyond: — Construction — both residential and commercial — collapsed last year.
Manufacturing Expands At Fastest Pace Since May
November 2, 2010 5:12 am | by Christopher S. Rugaber, AP Economics Writer | News | CommentsWASHINGTON (AP) — Manufacturing activity expanded last month at the fastest pace since May, driven by demand in the United States and abroad for cars, computers and other goods. The report signals that U.S. factory output, which slowed over the summer, remains a strong player in an otherwise weak economy.
Manufacturing Sector Expected To Grow For 15th Straight Month
November 1, 2010 5:16 am | News | CommentsWASHINGTON (AP) — The manufacturing sector likely grew in October for the 15th straight month, but at the slowest pace in almost a year. Economists expect that the Institute for Supply Management's index of manufacturing activity will drop to 54, according to a survey from Thomson Reuters, from 54.
General Motors Will Try To Reduce Capital Spending By $1 Billion
November 1, 2010 5:16 am | News | CommentsDETROIT (AP) -- General Motors Co. told investors early Friday that it plans to reduce capital spending by $1 billion as it heads toward an initial public offering of its stock. The company also said in a regulatory filing that it will use $2.1 billion in cash from the sale of new preferred stock to repay part of the roughly $50 billion in taxpayer funds that the government spent to bail the company out of financial troubles last year.
Electronics Parts Distributor Avnet Posts Strong 1Q
October 29, 2010 4:36 am | News | CommentsPHOENIX (AP) — Avnet Inc.'s fiscal first-quarter net income more than doubled to exceed analysts' forecasts as the distributor of electronics parts cashed in on the rising demand for computers and other high-tech wizardry. The Phoenix-based company said Thursday that it earned $138 million, or 90 cents per share, in the three months ended Oct.
Toyota Supplier To Hire 300 At Miss. Plant
October 29, 2010 4:35 am | News | CommentsTUPELO, Miss. (AP) — A Toyota supplier in north Mississippi is taking applications for about 300 jobs at its Baldwyn facility. The job listings for Auto Parts Manufacturing Mississippi were posted on the Mississippi Department of Employment Security website Thursday. The company is looking for about 250 hourly workers and 50 supervisors that will work on salary.
Air Products Extends Offer To Buy Airgas
October 28, 2010 4:39 am | News | CommentsALLENTOWN, Pa. (AP) — Industrial and medical gas supplier Air Products and Chemicals Inc. said Wednesday it has extended its offer to buy shares of Airgas Inc. until Dec. 3. The offer of $65.50 per share was scheduled to expire Friday. Air Products said nearly 1.9 million Airgas shares were validly tendered and not withdrawn from the offer as of Tuesday.
FDA Takes Action Against Tenn. Food Distributor
October 28, 2010 4:38 am | News | CommentsSILVER SPRING, Md., -- The U.S. Food and Drug Administration today announced that Peng Bandith, owner of the Lao Trading Company of Nashville, has signed a consent decree that permanently prohibits Lao Trading Company from distributing food held under insanitary conditions in interstate commerce.
Applied's Net Sales Increase 20% In 1Q
October 27, 2010 5:34 am | News | CommentsCLEVELAND -- Applied Industrial Technologies (NYSE: AIT) today reported first quarter fiscal 2011 sales and earnings for the three months ended September 30, 2010. Net sales for the first quarter increased 20.5% to $527,501,000 from $437,743,000 in the comparable period a year ago. Net income for the quarter increased 85.
BE Aerospace Purchases Satair AS's Distribution Unit For $162M
October 27, 2010 5:32 am | News | CommentsWELLINGTON, Fla. (AP) — BE Aerospace Inc. said Monday it will pay $162 million to buy Satair AS's aerospace fastener distribution business. Satair's fastener business distributes products to European and Asia Pacific aerospace manufacturers and their suppliers. The deal will expand BE Aerospace's product offerings in its consumables business.
Airgas Overcomes Takeover Bid To Post Stellar 2Q
October 27, 2010 5:31 am | by Tom Murphy, AP Business Writer | News | CommentsINDIANAPOLIS (AP) — Airgas Inc. said Tuesday that its fiscal second-quarter earnings climbed 22 percent as same-store sales rose, and the industrial gas supplier heaped fresh criticism on a takeover bid from rival Air Products and Chemicals Inc. Airgas, which is based in Radnor, Pa.
Anixter Reports 10% Sales Increase In 3Q
October 27, 2010 5:30 am | News | CommentsGLENVIEW, Ill. (AP) — Anixter International Inc. on Tuesday posted a higher profit for the third quarter as the distributor of communications and electronics products saw sales increase 10 percent. "The sales growth that we are experiencing is being fueled by stronger day-to-day business in both of our cabling businesses along with an increasing number of major projects," said CEO Robert Eck.
MSC Industial Direct Sees Sales Rise 30% In 4Q
October 27, 2010 5:29 am | News | CommentsMELVILLE, N.Y.—MSC Industrial Direct, one of the largest direct marketers and premier distributors of Metalworking and Maintenance, Repair and Operations ("MRO") supplies to industrial customers throughout the United States, recently reported financial results for its fourth quarter and fiscal year ended August 28, 2010.
Garmin Buys Norwegian Distributor Belanor AS
October 27, 2010 5:27 am | News | CommentsNEW YORK (AP) — Garmin Ltd. said Friday it acquired Belanor AS, which distributes Garmin's GPS systems and other products in Norway. Financial terms were not disclosed. The company will be renamed Garmin Norge AS and it will retain its management, sales, marketing and other staff.
It's A Lowercase i-Dominated World
October 26, 2010 8:16 am | by Mike Schmidt, Associate Editor, Industrial Distribution | Articles | CommentsApple is on a path to overtake Exxon as the largest company by market capitalization, and it's a strong -- and troubling -- signal that the market is no longer placing as high of a value on industrial companies that depend on traditional manufacturing, business spending, or natural resources for revenue.
Clamp And Cut
October 26, 2010 6:51 am | Product Releases | CommentsSeatek (Stamford, CT) recently announced a new model in its Roto-Split rotary tool line. The RS-101B is designed to cut armored cables, and is equipped with an exclusive auto clamping feature that helps users cut a wide range of AC/MC cable. Auto-clamping adjusts to the diameter of the cable, no levers or screws to set.
Measure Current Accurately
October 26, 2010 6:50 am | Product Releases | CommentsFluke (Everett, WA) has introduced the iFlex flexible current probes, designed for current measurement. The large coil allows users to reach around large or awkward-shaped conductors up to 6 inches in diameter, while the small 0.3-inch profile allows the coil to reach between tightly-packed cables and improves access in crowded spaces.
Quickly Cut Through Wood
October 26, 2010 6:26 am | Product Releases | CommentsIrwin Tools (Huntersville, N.C.) now offers Irwin Speedbor wood drilling flat bits. According to the company, they are designed to provide longer drilling life and added durability. The patented Blue-Groove point and cutting edge is meant to provide fast chip removal and quickly cut through wood.
Comprehensive Skin Care
October 26, 2010 6:24 am | Product Releases | CommentsRubbermaid Commercial Products (RCP — Winchester, VA) has announced its comprehensive skin care solution: the Rubbermaid Flex (Foam Liquid Excellence) TC Skin Care System. According to the company, 80 percent of germs outside the home are transmitted by hand, and 23 percent of adults don’t wash their hands after using public restrooms.
