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.