3M purchases composite maker
Building products giant 3M has agreed to purchase Nida-Core Corp., a Florida manufacturer that makes composite building materials, according to an article in the Minneapolis St. Paul Business Journal.
Nida Core also has a small French affiliate, Structiso, that 3M also is acquiring. Its products, which are used to build boats and snowboards, will help 3M build its composite and engineered materials product portfolio, according to the newspaper.
Obituary: Murray Armstrong
Murray Armstrong, an Ace Hardware executive who helped build the co-op’s international division during his 21-year tenure, has died at age 63. Armstrong passed away peacefully in his home in Winfield, Ill., on Dec. 14, according to a notice posted on the website of the North American Retail Hardware Association.
Armstrong held several titles at Ace, but spent most of his career developing the buying group’s overseas business, which now has a retail presence in more than 50 countries across the globe. In 2002 he served as director of international merchandising and marketing, but was then promoted to managing director of Ace International and then president and general manager. Armstrong left Ace Hardware this past May.
In 2009, Armstrong was the recipient of the award for outstanding achievement in the hardware industry from the Midwest Retailers and Manufacturers Association.
True Value names new VP
Chicago-based hardware co-op True Value Co, announced the appointment of Robert Young to divisional VP for the paint, hardware and tool departments, effective January 2011.
Young joined the company from Briggs & Stratton Corp., where he served as VP/general manager of business units and oversaw product development, brand management and engineering of key power products. Young has more than 20 years experience in retail and merchandising roles, and has held positions of increasing responsibility in growing sales and profits.
“I am excited and proud to join such a respected retail brand as True Value,” Young said. “I’m looking forward to getting to know my teams and leveraging what I know about the home improvement and retail industries to make an impact in my new position."