Bolstered by demand growth from the recovering construction and industrial sectors, the rising price of steel is weighing on product prices.
The combined company will go to market under the brands Bishop Lifting Products, Delta Rigging & Tools, Delta Rentals & Rigging, and Morgan City Rentals. The company currently operates 23 branches.
Net income for the first quarter of 2014 was $14.6 million, or $0.28 per diluted share, versus net income of $20.7 million, or $0.41 per diluted share, in last year’s first quarter.
The new location, with a one-acre yard, will serve HD Supply Waterworks' contractor, municipality and utility customers in addition to HD Supply White Cap's industrial, commercial and residential customers by warehousing and distributing both companies' products.
Companies that make the list have the 100 highest scores for trustworthy behavior over the four quarters of the previous fiscal year. Tennant’s average score for the past year was 94 and its current AGR score is 98 out of a possible 100.
Ferguson’s revenue grew 8% overall and 6.2% ahead of last year on a like-for-like (or same store growth) basis. Trading profit was also ahead by 15.2% compared to last year and trading margin was 7.5%, up from 7.0% for the same period last year.
“We’re very excited about the new distribution center in Colorado. It gives us the opportunity to help our locations in the West grow their businesses by adding more product lines and in greater quantities than the former facility allowed,” said Paul Donarum, vice president, WinWholesale Sourcing Services.
“Nearly 80 percent of manufacturers in the U.S. are facing a shortage of skilled labor. In conjunction with the AME Institute and Kronos, we are excited to offer this scholarship that supports and promotes manufacturing as a career path,” says Paul G. Kuchuris, Jr., president, The Association for Manufacturing Excellence.
The event, a mix of one-on-one meetings between distributors and suppliers, networking events, and breakout sessions, saw 128 distributor attendees (from 72 companies) and 182 supplier attendees (from 102 companies, including service suppliers).
The World Trade Organization ruled Wednesday that China has violated international trade rules with its restrictions on the export of 17 "rare earths" and two other minerals that have key industrial and high-tech uses.
Combined with the collaborative, network-based procurement capabilities of Ariba and the human resources expertise of SuccessFactors, the acquisition positions SAP to deliver a platform for businesses to manage their entire workforce from initial recruiting and on-boarding to ongoing development, performance management, retention and retirement.
The new entity will do business as Advance Automation and branded as “an Industrial Innovations Company." All operations are being consolidated within a single Industrial Innovations location.
“I am very pleased with our 2013 performance,” stated Joe DeAngelo, CEO of HD Supply. “We delivered 9 percent sales growth and 21 percent Adjusted EBITDA growth, as adjusted for unusual items, despite a challenging and uncertain market environment."
Wolseley plc reported results for the first half of fiscal 2014. Revenue of the ongoing businesses is 5.2% ahead of last year, including like-for-like growth of 3.2%.
Andrew Cichocki, a member of Airgas' Management Committee, will lead all aspects of Airgas USA, LLC - sales, operational, organizational, and financial - and will continue to report to Airgas President and Chief Executive Officer Michael L. Molinini.
This is the company’s first physical location in the state, adding to its nationwide presence of more than 240 branches.
The venture will establish manufacturing of Timken's rail bearings in Russia, a country that expects to acquire nearly one million new freight cars by 2030 as part of an aggressive investment program to renew and upgrade its rolling stock.
“These changes in our field organization will further position us for growth in 2014,” said Breen. “Richard and Austin are both experienced leaders, and have done a great job for the company over the years.”
Manufacturers reported a stronger month than distributors in February, but business continued to expand for both groups, according to the most recent ISA Economic Indicator Report (EIR) from the Industrial Supply Association.
The eight certifications include: Supply Chain Principles, Inventory Control, Warehousing Operations, Transportation Operations, Customer Service Operations, Demand Planning, Procurement, and Manufacturing & Service Operations.