The PMA report shows that metalforming manufacturers maintain a guarded yet optimistic economic outlook.
Overall, the deal effectively doubles the size of Do it Best’s membership.
Consumption decreased month-to-month, following a healthy gain in August.
PIP is set to expand its global footprint with the acquisition, adding 20 manufacturing sites and 17 distribution centers worldwide.
The companies said the merger will create a global leader in consumer packaging, enhancing innovation and sustainability.
Sonepar significantly expanded its North American presence in 2024, now operating 548 branches across all provinces, territories and states.
The new executive will build the company’s AI function, which will impact route optimization, robotics and automation.
It suggests that broader demand for industrial and construction supplies remains subdued heading into 2024’s closing months.
The company launched a new logo and website as it aims to drive innovation in hydraulic, electromechanical and pneumatic technologies.
The PMI reported the seventh consecutive month of contraction, amid weak demand and cautious investment.
Optimum was a top customer whose contract expired at the end of June. Excluding that, 1Q sales saw double-digit annual growth.
The company raised its outlook for operating margins, driven by strong performance in its Aerospace Systems segment.
