Management

January PMI drops sharply

Economic activity in the manufacturing sector expanded in January for the eighth consecutive month, and the overall economy grew for the 56th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business. Yet, the January PMI registered 51.3 percent, a decrease of 5.2 percentage points from December's seasonally adjusted reading of 56.5 percent.

Third Wave Systems contracts with USAF

Third Wave Systems, a Minneapolis-based provider of machining modeling technology, has been awarded a $3 million contract by the U.S.  Air Force Life Cycle Management Center. The contract, one of the largest funded projects in Third Wave's 20-year history, is to expand its metalcutting simulation solutions to composite materials used on the F-35 Joint Strike Fighter.

Seco named Supplier of the Year

Affiliated Distributors' Industrial Supply Division recently named Seco Tools its 2013 Supplier of the Year for Marketing Excellence. The accolade is part of Affiliated Distributors' annual Spirit of Independence Awards Ceremony that recognizes individual affiliates and suppliers that demonstrate consistent excellence in marketing, performance and/or leadership.