The Leading Source for Industrial Distribution News
Industrial Goods To Lead Economic Recovery?
July 23, 2010 6:25 am | by Alan Zibel and Christopher S. Rugaber, AP Business Writers | News | CommentsPeople aren't spending money like they used to. Unemployment is still flirting with double digits. And the housing market is still shaky. So the future looks bleak for the economy, right? Not necessarily. A handful of surprisingly good earnings reports Thursday suggested that some of the major U.
Ford Posts 2Q Profit, But Trims U.S Sales Forecast
July 23, 2010 6:23 am | by Dee-Ann Durbin and Tom Krisher, AP Auto Writers | News | CommentsDEARBORN, Mich. (AP) — Ford Motor Co. posted a strong second-quarter profit Friday but trimmed its U.S. sales forecast and predicted weaker results in the second half as the economy slowly recovers. The automaker surprised Wall Street, making $2.6 billion in the quarter as it continued to grab sales from rivals.
Economic Indicators Drop As Recovery Slows
July 23, 2010 6:22 am | by Alan Zibel and Christopher S. Rugaber, AP Business Writers | News | CommentsPeople aren't spending money like they used to. Unemployment is still flirting with double digits. And the housing market is still shaky. So the future looks bleak for the economy, right? Not necessarily. A handful of surprisingly good earnings reports Thursday suggested that some of the major U.
New Jobless Claims Jump To Highest Mark Since February
July 22, 2010 4:56 am | by Christopher S. Rugaber, AP Economics Writer | News | CommentsWASHINGTON (AP) — New jobless claims jumped last week by the most since February, reversing the previous week's sharp decline. The rise is partly a result of seasonal factors but also reflects the job market's weakness. New claims for unemployment insurance jumped by 37,000 to a seasonally adjusted 464,000, the Labor Department said Thursday.
Würth Sees 10.5 Percent Sales Increase In First Half Of Year
July 22, 2010 4:54 am | News | CommentsKUNZELSAU, Germany --The worldwide operating Würth Group, world market leader in its core business, the trade in assembly and fastening material, reported overall sales of EUR 4.2 billion in the first half of 2010. This corresponds to a sales increase of 10.5 percent compared to the same period of the previous year (9.
Airgas Rejects Buyout Offer From Air Products
July 22, 2010 4:51 am | News | CommentsRADNOR, Pa. (AP) — Airgas Inc. on Wednesday rejected a sweetened buyout offer from competitor Air Products & Chemicals Inc. and reported that its fiscal first-quarter earnings rose 18 percent. The industrial gas maker also boosted its quarterly dividend and raised its earnings forecast for the year.
Striking Honda Supplier Workers Agree To 47 Percent Pay Hike
July 22, 2010 4:39 am | News | CommentsBEIJING (AP) — Striking workers at a factory in China that supplies Honda Motor Co. went back to work Thursday after agreeing to a 47 percent pay hike, an employee said. The strike at the Atsumitec Co. factory in the southern city of Foshan in Guangdong province near Hong Kong came amid a wave of wage protests that have idled dozens of Chinese and foreign-owned factories.
Airgas Reports Solid 1Q Results
July 22, 2010 4:38 am | News | CommentsRADNOR, Penn. -- Airgas, Inc., a U.S. distributor of industrial, medical, and specialty gases, and related supplies, reported net earnings of $64.8 million, or $0.76 per diluted share, for its first quarter ended June 30, 2010. Excluding legal and professional fees of $0.03 per diluted share related to an unsolicited takeover attempt, debt extinguishment charges of $0.
Hyde Tools Names New President
July 22, 2010 4:36 am | News | CommentsSOUTHBRIDGE, Mass. – Robert Scoble has been named president and chief operating officer for industry leader Hyde Tools, Inc. Scoble succeeds Richard M. (Rick) Clemence, who has stepped forward to lead the Hyde Group as chief executive officer. After more than 20 years of leadership in other privately held companies, Scoble joined the Hyde Group family of companies in 2005 as vice president of sales and marketing for Hyde Tools.
The Power Of A Marketing Mindset
July 21, 2010 11:03 am | Articles | CommentsEditorial by John Graham, President, Graham Comm. As the insurance organization’s marketing meeting began, the president stated, “We need more sales.” This may seem like an inappropriate comment for a marketing meeting, but it accurately expresses the confusion that exists in so many companies when it comes to marketing and sales.
An Efficient Way To Control Customer Data
July 21, 2010 10:54 am | Articles | CommentsCisco-Eagle is a material handling distributor and integrator, one which provides its customers with solutions for the movement, storage, retrieval, control, and protection of materials and products throughout their manufacture, distribution, consumption, and disposal. For Cisco-Eagle, it’s all about enabling their clients to get the right amount of the right material to the right place at the right time.
Former Foxconn Intern Falls To His Death
July 21, 2010 5:29 am | News | CommentsGUANGZHOU, China (AP) — A 19-year-old summer intern at a factory affiliated with the Foxconn Technology Group was found dead after falling from a six-story company dormitory in southern China, his employer said. The death adds to a string of worker suicides at factories in south China run by or linked to Foxconn, a supplier to Apple Inc.
Strike Stops Production At Chinese Auto Plant
July 21, 2010 5:25 am | News | CommentsTOKYO (AP) — Around 300 workers at a Japanese auto parts plant in China went on strike Wednesday to demand higher wages, the latest in a string of labor disputes to hit foreign companies there. Japanese company Omron Corp. said the strike forced its factory in Guangzhou, southern China, to halt some production.
Applied Boosts Divident By 13 Percent
July 21, 2010 5:24 am | News | CommentsCLEVELAND (AP) — Industrial parts distributor Applied Industrial Technologies Inc. said Tuesday its board of directors raised the quarterly dividend 13 percent to 17 cents. The company said the dividend is payable Aug. 31 to shareholders of record as of Aug. 16. Shares of Applied Industrial rose 9 cents to $26.
Schurter Announces Distribution Pact With Electro Sonic
July 20, 2010 10:20 am | News | CommentsSANTA ROSA, Calif. – Schurter recently announced that it has reached a distribution agreement with Canada’s leading full-service electronic component distributor, Electro Sonic. The agreement confirms Schurter’s commitment to further expand its presence and growth in the Canadian market.
Reel It In
July 20, 2010 6:24 am | Product Releases | CommentsReelcraft (Columbia City, IN) now offers the 9000 Series heavy-duty hose reel. To accommodate longer lengths of twin hydraulic hose, the company adapted a dual fluid path and incorporated it into the mobile base of the new product offering. Designed to offer both stability and strength due to its heavy gauge base design, the reel may be floor, ceiling, or wall-mounted.
Work Out Any Roundness
July 20, 2010 6:22 am | Product Releases | CommentsNorthfield Precision Instrument Corp. (Island Park, NY) introduces its latest custom air chuck, Model 450L. Aluminum pie jaws with custom flex inserts bolted to the jaws have been mounted to the chuck. The flexing inserts are designed to compensate for any out of roundness in the work piece.
Get In The Flow
July 20, 2010 6:19 am | Product Releases | CommentsGreat Plains Industries (Wichita, KS) just released the TM300-F-GX, a 3-inch turbine meter designed for water applications. The meter provides local display with measured units in gallons, liters, and cubic feet. It displays total flow, a re-settable total, and rate of flow.
On The Fence
July 20, 2010 6:17 am | Product Releases | CommentsDirect Metals (Kennesaw, GA) recently added a new security fencing product to its product wire mesh line. It is a no-climb fence. The product is meant for any application where a high security fence is needed. According to the company, the product: Is made of carbon steel .
EU Looks Into French Subsidies To Suppliers
July 20, 2010 5:55 am | News | CommentsBRUSSELS (AP) — The European Union's executive says it is investigating French state help to companies that supply parts to aircraft manufacturers. It says it doubts that France's "Aero 2008" program offering exchange rate risk insurance is legal under EU rules, claiming that the insurance premiums may not be in line with market prices and could be easily supplied by banks.
