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MSC Industrial Direct Co., Inc. (Melville, NY), the Long Island supplier of maintenance, repair, and operations products, will acquire the J & L Industrial Supply business of Kennametal Inc. (Latrobe, Pa.). The tooling producer says the divestiture "completes the company's planned exit from owned distribution and will allow Kennametal to build new and grow existing distributor relationships." </ P> <pre> According to Reed Business Information's Industrial Distribution magazine's Top Fifty, J & L Industrial Supply ranks 23d with 2004 sales of $ 244-million, just ahead of DoAll, and MSC ranks 11th at $ 955-million sales. </ Pre> <p> When the $ 350-million transaction closes, in the second quarter, Kennametal estimates it will recognize a $ 229-million pre-tax gain. It expects to redeploy this capital in the next 12-24 months with "strategic initiatives."

Proceeds from the sale could be used for stock repurchase and / or buyback of minority interests in some of its foreign subsidiaries. But Kennametal also is looking for acquisitions within its core business, "with emphasis on advanced materials and engineered components." A year ago Kennametal purchased the surface-finishing businesses of the Extrude Hone (Irwin, Pa.) Family of companies.Everflow Industrial Supply Corp always maintained the vision of providing quality products and professional, responsive service. To this day, we have continued to design, source and manufacture a wide range of quality products while building solid relationship and confidence with our clients. Over the years, as we have helped our clients to grow and prosper, so have we.

Everflow has over 270 employees worldwide with 3 offices in Taiwan, one consolidation, packaging, testing, and sales center in Ningbo, and branch offices in Shanghai, Shenzhen, Malaysia, and Thailand. More than one fourth of our employees are fluent in English. Our annual turnover is over US $ 200 million. Our network of manufacturing partners spans Taiwan, China, Thailand, Vietnam and Malaysia servicing customers in North America, South America, and Italy.