HOUSTON--(BUSINESS WIRE)--DXP Enterprises, Inc. (NASDAQ: DXPE) today announced Modern Distribution Management ("MDM") named DXP Enterprises a 2011 MDM Market Leader. David Little, Chairman and CEO commented, "As we continue to grow profitable market share, it is gratifying to be recognized by MDM as the 17th largest distributor and 4th largest bearing and power transmission distributor in the industrial market sector. We continue to grow our Bearing and Power Transmission Division through investments in SuperCenters expansion along with hydraulic and belting services. We are also pleased that the Bearing Specialist Association has elected James Webster as this year's president. James has been with DXP for 46 years and leads DXP’s Bearing and Power Transmission Division."
Modern Distribution Management reported:
DXP Enterprises has been ranked #17 on Modern Distribution Management's 2011 Industrial Market Leaders list and #4 on the Power Transmission/Bearings Market Leaders list. These lists identify the top 40 and top 10 distributors by revenue in industrial and power transmission/bearings distribution, respectively. Modern Distribution Management is the leading information source for independent distribution channels.
"The top distributors continued to gain market share in 2011, many returning to sales levels seen before 2009. While there are still headwinds, distributors that appear on MDM's Market Leaders lists continue to execute a successful strategy to give them an edge in the recovery," said Tom Gale, publisher of Modern Distribution Management.
The list was released in conjunction with the 2011 MDM Distribution Landscape report. Taken together, the full report provides a comprehensive landscape of the distribution industry, including merger and acquisition news and market trends. It is available at www.mdm.com/marketleaders.
Data was collected from the companies, public filings and news releases. For private companies who did not provide their revenue data, the MDM editorial staff estimated rankings based on past reported revenues, average revenue declines within the sectors, data from economic reports and conversations with industry experts.
Modern Distribution Management (www.mdm.com) is a specialized information service for wholesale distribution executives and companies that sell through independent distribution. Through its twice-monthly premium newsletter, free e-newsletters, Webcasts, and breaking news and blog feeds at mdm.com, MDM provides fresh analysis, accurate reporting and business intelligence across many lines of trade.
View the top distributors in 12 sectors at www.mdm.com/marketleaders.
About DXP Enterprises, Inc.
DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States and Sonora, Mexico. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production ("MROP") services that emphasize and utilize DXP’s vast product knowledge and technical expertise in rotating equipment, bearings, power transmission, industrial supplies and safety products and services. DXP's breadth of MROP products and service solutions allows DXP to be flexible and customer driven, creating competitive advantages for our customers. DXP’s business segments include Service Centers, Innovative Pumping Solutions and Supply Chain Services. For more information, go to www.dxpe.com.
The Private Securities Litigation Reform Act of 1995 provides a “safe-harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made by or to be made by the Company) contains statements that are forward-looking. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future; and accordingly, such results may differ from those expressed in any forward-looking statement made by or on behalf of the Company. These risks and uncertainties include, but are not limited to; ability to obtain needed capital, dependence on existing management, leverage and debt service, domestic or global economic conditions, and changes in customer preferences and attitudes. For more information, review the Company’s filings with the Securities and Exchange Commission.