Alan Colonna has been promoted to Executive Vice President to lead the combined group, which will focus on excellence in buying and selling MRC products. Mr. Colonna will report to Andrew Lane, MRC's Chairman, President and CEO. Rory Isaac and Gary Ittner are now Executive Vice Presidents of Corporate Strategy and Mergers & Acquisitions.
The report showed manufacturer activity in July at 60.42% compared to 59.44% the previous month and the distributor index of 63.53% compared to 60.19% in June. For each index, a reading above 50% indicates expansion, while a reading below 50% indicates contraction.
The 2011 Ryder Carrier Quality Award recognizes excellence through a variety of metrics, including on-time performance, claims handling, customer service, technology applications, economic value and innovation. Ryder purchases and/or executes more than $4.1 billion annually in freight moves on behalf of its customers.
The company has completed the sale of substantially all of the Company's California pre-cast operations to Oldcastle Precast, Inc. The Company's California pre-cast operations consist of Central Precast Concrete, Inc., San Diego Precast, Inc. and Sierra Precast, Inc. which are also parties to the definitive sales agreement.
John McQueen, Executive Vice President and Head of Wells Fargo Equipment Finance, said, “My long term view of the equipment finance industry is strong; the shorter term view of the U.S. economy and worldwide economy is volatile. The U.S. economic growth rate and the stability for the economy will continue to slow business investment.”
With nearly 50 percent more square footage, Coxreels can now accommodate the massive growth the company built up since 2005 and plan for continued advancement in manufacturing its industry-leading product lines. With Coxreels’ commitment to “USA made” and “USA quality”, the new facility’s benefits and features are being fully embraced.
As part of the plan, Gardner Denver will consolidate manufacturing facilities and reduce related staffing to increase efficiency and free up resources so they can be invested in more profitable businesses. It didn't specify how many jobs it planned to cut.
Cheap mortgages have helped fuel a modest housing recovery this year. Mortgage buyer Freddie Mac says the rate on the 30-year loan increased to 3.62 percent, up from 3.59 percent last week. Three weeks ago, the rate fell to 3.49 percent, the lowest since long-term mortgages began in the 1950s.
The 470 ton-per-day plant will produce liquid nitrogen and oxygen to meet rapidly growing demand in Arkansas, Louisiana and Texas. “When completed, the plant will bring product closer to our customers so we can improve their supply security and reduce Linde’s carbon footprint. Developing environmental solutions that reduce greenhouse gas emissions is part of Linde’s commitment to sustainability,” Murphy said.
Anixter is constructing a new LEED@-certified (Leadership in Energy and Environmental Design) building as part of its corporate headquarters campus in the Chicago suburb of Glenview. Construction of the new facility commenced at a ground breaking ceremony on Friday, August 17, and Anixter expects to have occupancy beginning in April of 2013.
"The drought is dampening economic activity across the region," said Creighton University economist Ernie Goss, who helped conduct the survey."The drought is putting a dent in farmland price growth and the purchase of agriculture equipment, including trucks." An index that tracks farm equipment sales plummeted in August to 38.3, its lowest level since October 2008. The index had been at 46.1 in July.
PTDA members participating in the Business Index expect 2012 to be another year of sales growth. Members predict an average forecast of 8 percent, down from 11 percent in the first quarter of 2012 survey. Both distributors and manufacturers reported decelerated sales growth in 2Q12. The PTDA Business Index full report is available through PTDA’s website at www.ptda.org/BusinessIndex.
Bill Henricks, Chief Operating Officer of DoALL Company, stated, “The merging of these two exceptional teams will further fuel our success in Southern California. This blend will provide a broader range of support and resources for our customers. With Tool & Abrasive’s dedicated team, we look forward to delivering the same great products and service our customers have come to depend on for decades.”
This full line of lubricants, degreasers and maintenance products is now available from the company’s new warehouse in Boynton Beach, FL . . .
Carter, formerly an area VP within the Airgas South region, has been named president of the Northeast region, including upstate NY and New England . . .
Each of the nominees, James W. Hovey, Michael L. Molinini, Paula A. Sneed, and David M. Stout, received the support of 91% or more of the shares voted . . .
Factory output, the most important component of industrial production, rose 0.5 percent, the second straight increase . . .
G. Christopher Colville has been named Chairman of the Board and CEO Craig Noell has been named chairman of the Executive Committee . . .
The new catalog is more than 800 pages long and contains more than 25,000 SKUs . . .