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Schlumberger 1Q Results Are Mixed; Severe Weather Affected Operations

April 21, 2014 | by Schlumberger | Comments

Schlumberger CEO Paal Kibsgaard commented, “Growing new technology sales and expanding integration activity drove our first-quarter results despite the severe winter weather that impacted operations in Russia, China and North America."   

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Today in Distribution

The complete daily resource for distribution professionals

2013 Big 50 List

September 1, 2014 2:46 pm | by Industrial Distribution Staff

The Big 50 list highlights a group of companies who are aggressive and progressive. This year's list shows a significant amount of revenue growth, more than typical amounts of consolidation, and even a notably absent name (Barnes Distribution, now a part of MSC). It’s a tough marketplace, and the strong survive and thrive. If anything in these pages inspires confidence, we hope it’s the leadership of an industry that refuses to slow down.

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GM To Boost China Production Capacity To 5M

April 21, 2014 11:32 am | by The Associated Press

The president of General Motors said Sunday that the company and local partners are boosting production capacity for GM-brand vehicles in China to 5 million.                

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Higher Costs Pressured Businesses In 1Q

April 21, 2014 11:09 am | by The Associated Press

During the first quarter of the year, 31% of businesses surveyed reported higher material costs, more than double the 15% that saw costs rise in the previous survey.                

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Study Says Fuels From Corn Waste Not Better Than Gas

April 21, 2014 11:07 am | by Dina Cappiello, Associated Press

Biofuels made from the leftovers of harvested corn plants are worse than gasoline for global warming in the short term, a study shows, challenging the Obama administration's conclusions that they are a much cleaner oil alternative and will help combat climate change.

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Gauge Of U.S. Economy Up For 3rd Straight Month

April 21, 2014 11:04 am | by Josh Boak, AP Economics Writer

The Conference Board said Monday that its index of leading indicators increased 0.8% in March after a 0.5% rise in February and modest 0.2% gain in January. It was the best showing since a 0.9% gain in November.        

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Danaher Announces Record 1Q, New President & CEO

April 21, 2014 10:50 am | by Danaher Corporation

Danaher Corporation announced that Executive Vice President Thomas P. Joyce, Jr. will succeed H. Lawrence Culp, Jr. as President and Chief Executive Officer upon Culp's retirement on March 1, 2015. Culp will continue at Danaher in an advisory role into the first quarter of 2016.

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Tennant Company 1Q Sales Rise 9.5%

April 21, 2014 10:30 am | by Tennant Company

Commented Chris Killingstad, Tennant Company's president and chief executive officer: “We are pleased to report record revenues for the first quarter and double-digit organic growth, with higher sales across all of our geographies."    

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Internet Retailer Amazon To Start Collecting Taxes In FL

April 18, 2014 10:08 am | by The Associated Press

Currently, Floridians are supposed to pay taxes for online purchases, but there's no way to enforce the law. The state can't force companies like Amazon to collect the tax unless it has a physical presence, such as a warehouse or store.

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Snap-on 1Q Sales Up 6.2%

April 18, 2014 10:04 am | by Snap-on Industrial

Sales of $787.5 million increased $45.8 million, or 6.2%, from 2013 levels; excluding $15.2 million of acquisition-related sales and $5.9 million of unfavorable foreign currency translation, organic sales increased 5.0%.             

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Handheld Strengthens Its U.S. Sales Department, Renews Focus On Developing Partner Networks

April 18, 2014 9:59 am | by The Handheld Group

As Handheld US’s vertical sales manager, Jeff Watkin will be responsible for building and supporting Handheld’s partner network in numerous industries, including utilities, construction, and manufacturing.         

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IndustryHuddle Gains 10,000 Users, Enhances Job Search Features

April 18, 2014 9:55 am | by Industry Huddle

Online resources, cost savings promotions, and the “Huddle Savings” program also enable companies to save big on their operational and business expenses.                 

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United Stationers Offers Breakroom Boot Camps To Educate, Drive Growth

April 18, 2014 9:50 am | by United Stationers

Throughout the remainder of 2014, United Stationers will host several Cleaning & Breakroom Sales Boot Camp and Supplier Summits. This series of two-and-a-half day events taking place in various locations around the country is aimed at helping resellers capture new sales growth in the JanSan category.

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PwC: Manufacturer Optimism On Domestic Outlook Rises To Highest Level In Eight Years

April 18, 2014 9:47 am | by PwC

The positive sentiment about the prospects of U.S. commerce in the next 12 months reached the highest level since the fourth quarter of 2005. Conversely, optimism regarding the prospects of the world economy lessened during the first quarter as U.S. industrial manufacturers remained cautious on the global stage.

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China Factories Face New Challenge As Growth Slows

April 17, 2014 9:56 am | by KELVIN CHAN, AP Business Writer

As China's growth inexorably slows, manufacturers such as Linan Meite Cable are discovering that being an efficient low-cost producer is no longer enough to prosper.              

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ESAB Completes Colfax Acquisition Of Victor Technologies

April 17, 2014 9:53 am | by ESAB

The acquisition complements the geographic footprint of ESAB, as well as expands ESAB's product portfolio into new segments and applications. It brings together two leading organizations with world-class products, technologies, and R&D.   

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Worthington Names Vice President Of Mergers & Acquisitions

April 17, 2014 9:49 am | by Worthington Industries

Joe Hayek has joined Worthington Industrial as vice president of mergers & acquisitions and corporate development, a newly created position focused on identifying and acquiring new businesses.             

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Watsco Achieves Record 1Q Results, Revenues Up 7%

April 17, 2014 9:44 am | by Watsco, Inc.

Albert H. Nahmad, Watsco’s President & CEO stated: “Watsco delivered another solid quarter of performance driven by sales growth, higher selling margins and improved operating efficiencies ... We are off to a strong start and believe 2014 will be a record year for our company.”

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Fastenal Founders Bob Kierlin, Steve Slaggie To Retire From Board of Directors

April 17, 2014 9:42 am | by Fastenal Company

Although both will remain part of the 'Fastenal family' as mentors, advisors, and friends, their retirement marks the end of their official roles with the organization they helped build from a small-town fastener shop into a multibillion-dollar global business.

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ISA Members Are In Growth Mode

April 17, 2014 9:38 am | by Industrial Supply Association

The ISA Manufacturer Index rose from 63.2% in February to 66.0% in March, while the Distributor Index increased from 59.2% in February to 65.0% this month. The Indexes have been above 50% since December 2012.        

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Bunzl Announces Sales Data, Acquisitions In Chile; The U.S.; New Zealand

April 16, 2014 9:53 am | by Bunzl plc

Overall trading has been consistent with expectations at the time of the annual results announcement in February. Acquisition growth continues to be a key part of the company’s strategy and Bunzl announced that it has completed three further acquisitions in Chile, the US and New Zealand.

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