The Industrial Distribution Group said that reduced demand for maintenance, repair, operations and production (MROP) products has caused a drop in earnings for the second quarter.
The latest round of acquisition activity goes to Ferguson Enterprises, which has signed a letter of intent to acquire Thrall Distribution and completed the purchase of Midwest Pipe & Supply Co.
The May 21 announcement that AK Steel is buying Armco has resulted in the termination of talks between Armco's Sawhill Tubular Division and Wheatland Tube Co.