The addition will increase Singer Industrial’s North America footprint to approximately 90 locations with more than 1,200 employees.
The company again marks its centennial celebration by acquiring two providers of bearings, power transmission and industrial motion products.
Strandquist’s career included executive roles at Martin, Optimas Solutions and Würth Industry North America.
Construction spending during July 2023 was estimated at a seasonally adjusted annual rate of $1.97 trillion.
Drawbacks in robot orders are exacerbated by the slow economy and high interest rates, according to the Association for Advancing Automation.
While in contraction territory for a 10th straight month, a handful of key subindexes trended positive vs. July.
In a WARN notice, the company said it expects 155 people to be affected by the permanent layoffs.
MDM reported on 40 mergers and acquisitions among industrial distributors and manufacturers in August, the most since April.
The announcement comes just a few short days after the company published its inaugural sustainability report.
The LYNN and Platinum Tools brands will gain an additional 90,000 square feet of space, improving inventory availability and shipment times.
The agreement brings together two companies that have grown via acquisitions and have appeared on MDM’s Top Distributors Lists.
The increase in real GDP reflected increases in consumer spending, nonresidential fixed investment, and state and local government spending.
