The Leading Source for Industrial Distribution News
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.
China Experiences Economic Recovery Slowdown
July 20, 2010 5:53 am | by Joe McDonald, AP Business Writer | News | CommentsBEIJING (AP) — In new signs China's rapid rebound is slowing, the government said Tuesday growth in factory output and state company revenues has fallen and exports will weaken in the second half of the year. A government spokesman said slower growth will help to promote efforts to make China's energy-guzzling economy more efficient.
ExxonMobil, Caterpillar Ink Agreement
July 20, 2010 5:52 am | News | CommentsFAIRFAX, Va. (AP) — ExxonMobil Corp. said Monday it has signed a multiyear agreement to manufacture lubricants for Caterpillar Inc. factories and dealers. Under terms of the pact, ExxonMobil will continue to be the exclusive supplier of 33 private-label lubricants that are used in Caterpillar engines, transmissions, hydraulics and final drives.
Krayden Announces 2009 Distributor Sales Professional Of The Year
July 20, 2010 5:51 am | News | CommentsDENVER — Krayden, Inc., a distributor of engineered materials, recently announced that Fernando Montes de Oca was presented the Gold Award from Dow Corning Electronics for the “Distributor Sales Professional of the Year 2009,” in a ceremony on May 19 in Denver. de Oca was chosen from a competitive group of sales professionals within the Dow Corning Electronics North America distribution network based on his outstanding performance with new business growth opportunities and exceptional sales revenue, in addition to his cross area specification work and “best in class” business performance.
Economists Say Recovery Continues, But Pace Slows
July 19, 2010 5:31 am | by Marley Seaman, AP Business Writer | News | CommentsNEW YORK (AP) — Economists say the U.S. recovery continued during the second quarter of this year with more businesses hiring workers and fewer cutting jobs, but the pace of growth has slowed, a new survey shows. The National Association for Business Economics said its latest survey, released Monday, found 31 percent of businesses added workers between April and June, the highest level in three years.
Treasury Department Criticized For Its Handling Of Car Dealers
July 19, 2010 5:30 am | by Ken Thomas, Associated Press Writer | News | CommentsWASHINGTON (AP) — The Treasury Department failed to consider the economic fallout when it told General Motors and Chrysler to quickly shutter many dealerships as part of government-led bankruptcies, a federal watchdog found. A report released Sunday by the special inspector general for the government's bailout program raised questions about whether the Obama administration's auto task force considered the job losses from the closings while pressuring the companies to reduce costs.
Genco Acquires ATC Technology
July 19, 2010 5:29 am | News | CommentsDOWNERS GROVE, Ill. (AP) — ATC Technology Corp. said Monday it has agreed to be acquired by privately held Genco Distribution System Inc. for $512.6 million in cash. ATC, an engineering and supply chain logistics firm based in Downers Grove, said the boards of ATC and Genco have approved the deal.
Strike In China Idles Another Honda Supplier
July 16, 2010 6:11 am | by Joe McDonald, AP Business Writer | News | CommentsBEIJING (AP) — A strike has shut down another factory in China that supplies Honda Motor Co. amid a wave of protests by workers for higher wages, an employee and a labor official said Friday. The strike at the Atsumitec Co. factory in the southern city of Foshan near Hong Kong involves 90 percent of the 200 employees and began Monday, the employee said by phone.
Consumer Prices Fall Again, Spark Deflation Talk
July 16, 2010 6:10 am | by Jeannine Aversa, AP Economics Writer | News | CommentsWASHINGTON (AP) — Consumer prices fell for the third straight month, providing some bargains to American shoppers. The Consumer Price Index, the government's most closely watch inflation barometer, dipped 0.1 percent in June, the Labor Department reported Friday. Less expensive energy bills were a big factor behind the drop.
Manufacturing Cools As Recovery Slows
July 16, 2010 6:05 am | by Daniel Wagner and Martin Crutsinger, AP Business Writers | News | CommentsWASHINGTON (AP) — New evidence of a slowing economic rebound emerged Thursday in reports that manufacturing activity is slowing after helping drive the early stages of the recovery. Factory output fell in June, according to a government report on industrial production. It was the sharpest monthly drop in a year.
Copy Machines: A Target For Identity Thieves
July 15, 2010 11:07 am | Videos | CommentsJust about every business in the United States has at least one copy machine that's used on a day-to-day basis. However, few, if any, are aware the copy machines store every document ever scanned, printed, and faxed on hard drives within the machinery. Once the company disposes of the copy machine, that hard drive becomes a target for identity thieves.
Grainger Reports 16 Percent Sales Increase In 2Q
July 15, 2010 4:29 am | News | CommentsCHICAGO -- Grainger today reported results for the second quarter and six months ended June 30, 2010. Second quarter sales of $1.8 billion increased 16 percent versus the 2009 second quarter. Both quarters had the same number of selling days (64). Net earnings for the quarter increased 40 percent to $129 million versus $92 million in 2009.
New Unemployment Applications See Sharp Fall
July 15, 2010 4:27 am | by Christopher S. Rugaber, AP Economics Writer | News | CommentsWASHINGTON (AP) — New applications for unemployment benefits fell sharply last week as General Motors and other manufacturers skipped their usual summer shutdowns. The Labor Department said Thursday that new claims dropped by 29,000 to 429,000, the lowest level since August 2008. It was the second straight week that initial claims dropped sharply and the third drop in the last four weeks.
Government Continues To Investigate Toyota Recalls
July 15, 2010 4:25 am | by Ken Thomas, Associated Press Writer | News | CommentsWASHINGTON (AP) — The government said Wednesday it had not reached any conclusions about whether Toyota drivers may be to blame for their vehicles suddenly accelerating, a problem that has led to millions of recalled cars and trucks since last year. The National Highway Traffic Safety Administration said in a statement that its engineers were continuing to investigate the possible causes of sudden acceleration in Toyotas along with scientists and researchers with the National Academy of Scientists and NASA.
White House: Stimulus Law Led To More Than 2.5 Million Jobs
July 15, 2010 4:23 am | News | CommentsWASHINGTON (AP) -- A new White House report says last year's $862 billion stimulus law has now "saved or created" between 2.5 million and 3.6 million jobs. That's up from 2.2 million to 2.8 million in the last quarterly report from the White House Council of Economic Advisers. Christina Romer, head of the council, says in congressional testimony prepared for Wednesday that every $1 from the stimulus bill is matched by $3 in private money.
