Fourth of July weekend is just about here, and leading up to it has been a busy news week in the industrial distribution market. A new Grainger COO and acquisitions for several of ID's Big 50 companies announced over the past couple days look to remain hot items heading into this month's first full week come Monday.
Here's the Top 5 for this holiday-shortened week:
Grainger Names New Chief Operating Officer: Grainger, No. 3 on Industrial Distribution's 2014 Big 50 List, on Monday announced that DG Macpherson has been named to the newly created role of Chief Operating Officer, effective Aug. 1. Reporting to Chairman, President, and Chief Executive Officer Jim Ryan, Macpherson will have oversight and accountability for all of the operating units of the company globally, including the company's multi-channel and single channel business models as well as Enterprise Systems. Most recently, Macpherson was Grainger Senior Vice President and Group President, Global Supply Chain and International.
Restoring Morale In A Struggling Sales Team: When you must restore morale in a struggling sales force, where do you begin? Sales numbers are bad enough, but that’s not real problem. Poor sales performance sends moral into a downward spiral, in turn creating a plateau. Kevin Daley, CEO of PeakPerformanceSalesTraining.com, explains how a sales team's comeback has to begin with its manager.
Report: Airgas Employees In Charleston, WV Reject CBA: According to a report by the West Virginia Gazette, Teamster union members working for Airgas Mid-America in Charleston, WV on Saturday unanimously rejected the company’s offer for a collective bargaining agreement. This would be the first contract negotiated by the union since the company’s employees on Charleston’s West Side voted to have the Teamsters represent them in July 2014. The Airgas facility has 22 employees represented by the union. Gases made in Charleston are distributed to Airgas branches throughout West Virginia, Kentucky and Tennessee for use in medical and industrial settings, including welding jobs.
Emerson Spinning Off Network Power Business: Emerson announced Tuesday it plans to spin off its Network Power business via a tax-free distribution to shareholders as part of a plan to streamline its portfolio, drive growth, and accelerate value creation for shareholders. Emerson will also explore strategic alternatives for its motors and drives, power generation, and remaining storage businesses. In addition, the company will conduct a complete review and assessment of its corporate services and structure to bring them into alignment with its smaller scale and sharper focus. The spinoff of Network Power will result in two separate companies with distinct strategies and investment profiles. As a publicly traded company, Network Power will be a stand-alone provider of thermal management, A/C and D/C power, transfer switches, services and infrastructure management systems for the data center and telecommunications industries.
NOW Inc. Buys Odessa Pumps In First Acquisition: On Tuesday, NOW Inc., which operates as DistributionNow and Wilson Export Brands, announced the acquisition of Odessa Pumps and Equipment Inc. of Odessa, TX. Terms of the all-cash transaction were not disclosed. It is the first acquisition for NOW Inc. since its spin off from National Oilwell Varco in 2014. DistributionNOW was No. 10 on ID's Big 50. Odessa Pumps and Equipment distributes pumps and equipment for the oil & gas, municipal, and wastewater markets. It operates a distribution business of approximately 13 sales and operations locations across Texas, New Mexico, and Oklahoma. Odessa employs approximately 300 people.