News
Insite Software Earns Supply & Demand Chain Executive 100 Honors
May 22, 2013 5:11 pmThe 2013 Supply & Demand Chain Executive 100 spotlights successful and innovative transformation projects that deliver bottom-line value to small, medium and large enterprises across the range of supply chain functions that industry professionals face today.
PTDA Welcomes Ten New Members
May 22, 2013 9:43 am | by PTDAThe Power Transmission Distributors Association (PTDA), the preeminent association for the industrial power transmission/motion control (PT/MC) distribution channel, has welcomed 10 new members year-to-date. The new members includes three distributors, five manufacturers, one MRO service provider, and one ERP integration services provider.
Rexnord Fiscal Year Sales Increase 3%
May 22, 2013 9:37 am | by RexnordNet sales were $2.005 billion for fiscal year 2013, an increase of 3% from the prior year (+4% acquisitions/divestitures, -1% impact of foreign currency translation, flat core sales). Income from operations increased 4% year-over-year to $255 million or 12.7% of sales.
Airgas Introduces SmartTag Gas Monitoring System
May 21, 2013 9:41 amSmartTag is the industry’s first visual identification system for managing cylinder gas expiration. Used primarily for EPA Protocol gas cylinders, Airgas SmartTag is a small, microprocessor-controlled Radio Frequency Identification (RFID) collar that fits around the neck of a gas cylinder and provides instant, on-site access to cylinder contents data.
DXP Acquires Tucker Tool Company
May 21, 2013 9:38 am | by DXP EnterprisesFounded in 1979, Tucker Tool is headquartered in Mechanicsburg, Pennsylvania and operates out of a single location. Tucker Tool is focused on serving customers in the chemical, oil & natural gas, power generation, general engineering and transportation markets with approximately 10 employees.
Lyon Workspace Products Sold To Equity Partnership
May 21, 2013 9:37 am | by Jack Keough, Contributing Editor, Industrial DistributionLyon Workspace Products, formerly Lyon Metallic and then Lyon Metal, began as a manufacturer of sheet metal products . Now, Lyon is considered a “leading manufacturer and supplier of top quality lockers, industrial storage and workspace products,” according to its website. The acquisition is good news for the nearly 450 workers at Lyon Workspace.
NAHAD & U.S. Commercial Service Sign Strategic Partnership
May 20, 2013 9:40 am | by NAHADTheir combined network of worldwide offices will work together on marketing, education programs and events leveraging both entities’ expertise to help make U.S. businesses—and particularly small and medium-sized firms—more export savvy. Joint activities may include building awareness through outreach at trade shows, direct mail campaigns and online registration for resource support.
Alcoa Cuts 500 Jobs In Canada
May 20, 2013 9:38 am | by AlcoaAluminum smelter and parts-maker says it will close down two production lines at a plant in Canada and cut about 500 jobs there because of lower aluminum prices. Alcoa has seen strong demand for aluminum, but prices have fallen. Those lower prices were a factor when Alcoa reported lower-than-expected first-quarter revenue last month.
Univar Acquires Mexico Distributor Quimicompuestos
May 17, 2013 12:56 pm | by Univar, Inc.Quimicompuestos is a leading chemical distributor in Mexico. The company has strong relationships with over 50 key suppliers, and delivers over 100 products to more than 4,500 customers in 25 diverse end markets. The company is well positioned in Mexico, with a nationwide distribution network and strong expertise in high growth industries.
Brady Corp. To Sell Asia Die-Cut Business, Organic Sales Down 4.7%
May 17, 2013 11:03 am | by Brady CorporationThe company continued its portfolio realignment process by announcing plans to sell its Asia-based Die-Cut business which was outlined in a separate press release on May 16, 2013. Accordingly, the company has recast its financial statements to report the financial results of the Die-Cut business on one line item in the accompanying condensed consolidated statements of income.
United Stationers Board Declares Regular Dividend
May 17, 2013 10:58 am | by United Stationers, Inc.The board also approved and authorized the company to purchase an additional $100 million of its common stock. Repurchases will be made in accordance with applicable securities laws in the open market or in privately negotiated transactions.
Atlas Sales & Rentals Opens Three New Offices
May 17, 2013 9:30 am | by Atlas Sales & RentalsThe company has opened full-service offices in Miami, FL and Oklahoma City, OK. A third office in Austin, TX opened by Atlas last year, has relocated to a larger facility. Products offered include the complete line of MovinCool® spot coolers and other portable equipment for cooling and heating applications.
Gartner Names hybris Leader In Magic Quadrant Report
May 16, 2013 3:34 pm | by hybrishybris, the world's fastest-growing commerce platform provider, today announced that for the second year running it has been included as a Leader in Gartner's latest 'Magic Quadrant for E-Commerce' (dated May 8, 2013). Following substantial growth in 2011, hybris has further consolidated its position as the market's dominant independent e-commerce and omni-channel vendor.
China Industrial Steel Revenues Up 6% In 1Q
May 16, 2013 10:50 am | by China Industrial Steel, Inc.The increase in sales was mainly due to the increase in sales of steel plates and steel wires, offset by the decrease in sales of steel billets and the decrease in unit sales price in the three months ended March 31, 2013. The average unit sales price was $501 per ton, a decrease of $70, or 12%, compared to $571 per ton in the comparable period of 2012.
Signature Group Holdings Sees 1Q Net Loss Of $2.8 Million
May 16, 2013 10:36 am | by Signature Group Holdings, Inc.The company’s net loss for the first quarter of 2013 was $2.8 million, or $0.02 per share, compared to a net loss of $1.2 million, or $0.01 per share, reported for the first quarter of 2012. Comparatively, the 2013 quarterly results include a $1.5 million (or $0.01 per share) non-cash charge related to the company’s common stock warrant liability.
Power Transmission/Motion Control Industry Forecasts Growth
May 16, 2013 10:32 am | by PTDAThe 1Q13 PTDA Business Index produced a reading of 61.1, which represents a substantial increase over last quarter’s reading of 50.7. This indicates that the power transmission/motion control (PT/MC) industry expanded for the 12th consecutive quarter at a slightly faster pace compared with 4Q12.
Airgas Explosion Hurts 2
May 15, 2013 9:49 am | by Pam Ramsey, Associated PressTwo workers were injured Monday when highly flammable gas used in welding exploded at a West Virginia industrial site, officials said. Fire crews were sent at about 3:20 p.m. to Airgas, a distributor of specialty gases in Poca, outside of Charleston. Putnam County emergency management director Frank Chapman said the explosion involved about 50 tanks of acetylene that were at Airgas waiting to be refilled.
Timken Acquires Standard Machine
May 15, 2013 9:42 am | by Jack Keough, Contributing Editor, Industrial DistributionThe Timken Company has acquired Standard Machine, provider of new gearboxes, gearbox service and repair, machining, field technical services and other services to customers in Canada and the western United States. The company services firms in the mining, oil and gas, and pulp and paper industries.
PTDA Foundation Builds Awareness Of Industrial Distribution Careers
May 15, 2013 9:25 am | by PTDA FoundationThe power transmission/motion control industry is a “hidden” industry. While the power transmission/motion control products manufactured and distributed are essential to keeping industry moving, only those who work in the industry seem to be aware of the incredibly rewarding careers available. The Industrial Career Pathway initiative—founded and significantly funded by the PTDA Foundation—is taking major steps to change that.
Edgen Group Reports First Quarter 2013 Results
May 14, 2013 9:16 am | by Business WireEdgen Group Inc. a leading global distributor of specialized products including steel pipe, valves, plate, and related components to the energy sector and industrial infrastructure markets, today reported its financial results for the three months ended March 31, 2013.
