Mike Miazga 2015-06-08 23:59:40
ASA DISTRIBUTOR PERFORMANCE REMAINS VARIED BY REGION/SEGMENT American Supply Association member wholesaler-distributors reported a median sales growth of 6.3% for the month ending April 30 compared to the same month last year. Calendar year-to-date, all respondents to ASA’s Monthly Pulse survey reported a median sales increase of 7.2% and the median increase for the trailing 12 months is 5.2%. Survey respondents reported inventory rose 3.6% compared to a year ago and the median three-months average dales sales outstanding edged up to 45.3 days. Nearly 54% of ASA-member respondents reported an increase in gross margin percentages and company YTD profit before taxes increased for more than 55% of the total sample. Two-thirds of respondents reported having more full-time-equivalent employees compared to a year ago. Performance for the industrial pipe, valves and fittings segment paints a somewhat different picture. PVF distributors reported a median sales growth of only 2% for the month compared to the same last year. Calendar year-to-date, PVF respondents reported a median sales increase of 3.8% and the median increase for the trailing 12 months is 1.5%. Inventory rose 8.3% compared to a year ago and the median three-months average DSOs increased from 44 days in March to 47 in April.PVF respondents to the survey reporting an increase in company YTD profit before taxes decreased from 50% in March to 46.7% in April. DAVID KOHLER NAMED PRESIDENT/CEO OF KOHLER CO. The Kohler Co. Board of Directors recently elected Chairman and CEO Herb Kohler to the new role of Executive Chairman effective June 1. Kohler will continue to chair the board, lead its executive committee, oversee shareholder communications, manage corporate mergers and acquisitions and the company’s Hospitality and Real Estate Group. Additionally, Kohler’s son, David, is the company’s new President and CEO. He had been Kohler’s chief operating officer since 2009. David Kohler’s duties will expand to include responsibility for the company’s corporate staff and three of its business groups. The company noted it has a comprehensive succession plan for all middle- and uppermanagement positions. The change, it said, is part of an orderly transition to ensure the company is able to adhere to its mission of creating a higher level of gracious living and guiding principles of living on the leading edge of design and technology while maintaining a single level of quality. “I am confident that after 24 years with the company and seven years as president and COO, David is prepared to take on the chief executive role and to grow Kohler Co.,” Herb Kohler stated. F.W. WEBB ACQUIRES GRANT SUPPLY F.W. Webb Co. Recently announced it has acquired Grant Supply Co., adding two more customer sites to its more than 80 locations in nine states. A family-owned business since 1933 with multi-generations of customers, Grant Supply is a distributor of plumbing, heating and PVF products in southern New Jersey. Grant now is a division of F.W. Webb operating in Pleasantville and North Brunswick, N.J., the current Grant locations. Grant will serve residential contractors and industrial professionals with more selection, while operating under the same name and with the local Grant customer-service teams, F.W. Webb announced. “We respect Grant’s long legacy of service and will build upon it with an even more extensive and diverse inventory of products, enhanced network of experts and innovative warehousing and delivery capabilities,” F.W. Webb COO Robert Mucciarone said. With the acquisition of Grant Supply, F.W. Webb now has three locations in New Jersey, including Bergen — an established division of Webb in Elmwood Park. AFFILIATED DISTRIBUTORS MEMBER SALES RISE IN 2015 FIRST QUARTER Wayne Pa.-based Affiliated Distributors recently reported sales for all its members across all seven divisions grew by 7% in the first quarter of 2015 to $7.9 billion. “Once again this quarter AD members achieved above-market growth,” AD Chairman and CEO Bill Weisberg said. “Our members hired 638 new employees, opened more than 32 new locations and made 12 acquisitions. We added 12 new AD members with 51 branches and expanded into the bearings and power transmission market with 27 charter members. This year is off to a strong start.” By division, AD member first-quarter sales grew as follows: Industrial up 5%; Plumbing up 6%; PVF up 2%; HVAC up 7%; and Building Materials up 12% year over year. MORRISON SUPPLY DONATES $10,000 TO AMERICAN CANCER SOCIETY Earlier this year, more than 700 Morrison Supply Co. HVAC customers gathered at the DoubleTree by Hilton in Austin, Texas, for a Western-themed conference, dinner and concert benefi tting the American Cancer Society. Morrison raised $10,000 through a silent auction and an additional $3,000 through a fudge sale/donation for Ashley Baganz with proceeds benefitting cancer research within the United States and internationally. Baganz is the late wife of Morrison Supply Fort Worth associate Jason Baganz. The couple has 3-year-old twin boys. “Being able to donate to a worthy charity while supporting one of our associates is extremely rewarding for us,” Morrison Supply President Stan Allen said. “We are proud to be able to donate $10,000 to the American Cancer Society this year and look forward to working with the charity more in the future.” FARNSWORTH WHOLESALE DONATES $5,000 TO LOCAL ARIZONA CHARITY In late April, 180 employees, customers and vendors of Mesa, Ariz.-based Farnsworth Wholesale Co. Gathered at the Biltmore Country Club for the annual FWC Golf Classic 2015. Farnsworth raised $5,000, which was donated to Az- Brainfood, a local nonprofit organization that provides food to hungry children. The tournament featured a hole benefiting AzBrainfood where each team had the option of donating $20.Teams were incentivized to give as their donation would in turn allow Farnsworth President Mark Shill to hit for their team. Almost every team participated. “Our annual golf tournament is great fun for our employees and partners, and to be able to give back to a local organization is a great honor for us,” Shill said. “We are proud to have been able to contribute to AzBrainfood this year and look forward to making a bigger impact as our tournament grows in the future.” TACO ANNOUNCES COMPANY REORGANIZATION Taco recently announced a major reorganization of the company and its marketing direction in order to facilitate entry into additional industries and markets. As a major growth strategy adopted by owner John Hazen White Jr., his board of directors, new company Chief Operating Officer Wil VandeWiel and his top operational management, Taco said it intends to leverage its 95-year experience in hydronic heating and cooling comfort to diversify by branching out from the HVAC industry into vertical markets for heating and cooling products. It will also develop the capability to provide non-hydronic product solutions to the HVAC industry as well as deliver product applications aimed at selected markets outside HVAC entirely. To help accomplish this ambitious objective, the company said it is in the process of restructuring and rebranding itself and will pursue growth and diversification through new partnerships and acquisitions. Taco added it plans to extend its hydronic heating and cooling products/ systems into plumbing, VRF and geothermal, expand its OEM and overseas businesses, and enter the hospitality market. As part of its restructuring effort, Taco has made numerous management adjustments and promotions from among its current workforce. Those changes include Todd Facey (now senior vice president, Residential Sales), Bryan Payne (senior vice president, Engineered Products and Systems), Greg Case (executive vice president, Research and New Product Development), Robert Lee (executive vice president, operations), Chris Integlia (executive vice president, strategy and business development) and Gene Fina (vice president, marketing). BASCO HOLDS NATIONAL SALES MEETING IN NASHVILLE Basco recently held its national sales meeting at the Loews Vanderbilt Hotel in Nashville. The property is outfitted with 215 of Basco’s RODA Celesta 935 shower enclosures. The “Opportunity Rocks” meeting brought together Basco’s executive leadership and a network of nationwide sales rep agencies to unveil several new products in Basco’s RODA collection, along with new training, marketing and merchandising programs in support of the product launch. The company noted insights into its industry trends and business review led the Basco leadership team to introduce innovations in heavy glass shower enclosures. During the meeting, Pittsburgh, Pa.-based Triangle Sales’ R.J. Blum is the recipient of the Chairman Award, presented to an individual sales rep who best embodies the characteristics of Basco founder Bill Rohde CHARLOTTE NAMED BEST METRO AREA TO WORK FOR A SMALL BUSINESS Leading personal finance social network WalletHub recently conducted an in-depth analysis of 2015’s best and worst cities to work for a small business. The company examined the small-business environment within 100 of the largest U.S. metro areas across 11 key metrics, such as net small business job growth, industry variety and earnings for small-business employees. The survey reveals Charlotte, N.C., is the best metro area to work for a small business. Charlotte is followed by Raleigh, N.C., Oklahoma City, Okla., Austin, Texas and Omaha, Neb. Conversely, Youngstown, Ohio, was named the worst metro area to work for a small business, followed by Stockton, Calif., Toledo, Ohio, Scranton, Pa., and Fresno, Calif. Among other interesting findings in the survey, by 2042 the Cape Coral, Fla., metro area is projected to experience the highest population increase at 103.4%. For more on the report, visit wallethub.com. DEACON INDUSTRIAL VOLUNTEERS AT EASTER SEALS CARNIVAL Nine Deacon Industrial employees and their families recently volunteered their time at the Easter Seals carnival fundraiser in Kulpsville, Pa. Volunteers operated the carnival games, helped out with the moon bounce and face-painting stations, and also served food to the families attending the event. The carnival is an annual spring fundraiser for Easter Seals AMETEK ACQUIRES GLOBAL TUBES Berwyn, Pa.-based AMETEK recently acquired Global Tubes, a manufacturer of high-precision smalldiameter metal tubing, for about $200 million. AMETEK noted Global Tubes has annual sales of about $120 million. Global Tubes is comprised of two businesses: United Kingdom-based Fine Tubes and Collegeville, Pa.-based Superior Tube. Global Tubes manufactures highly customized metal tubing from a wide variety of metals and alloys, including stainless steel, nickel, zirconium and titanium. Its products are used in highly engineered applications serving the aerospace, energy, power generation and medical markets. “Global Tubes is an excellent acquisition and a great strategic fit with our Specialty Metal Products business,” AMETEK Chairman and CEO Frank Hermance said. “It has strong positions in a number of attractive niche markets for high-precision, smalldiameter metal tubing used across a wide range of highly engineered applications.”
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