W.W. Grainger Inc., reported that its 2009 total sales of $6.2 billion were down 9 percent versus 2008. Net earnings of $430 million decreased 9 percent versus $475 million in 2008.
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Archive for January, 2010
Grainger 2009 Annual Sales and Net Profits Down YTY, But CEO Sees Better Results in 2010
McIntyre named VP at CN Robinson Lighting Supply
CN Robinson Lighting Supply Co. (Baltimore): John McIntyre has been promoted to V.P. He was previously director of construction sales and is a LEED Accredited Professional.
Syers Named as Halco’s Senior Sales Manager-Customer Support
Halco Lighting Technologies (Norcross, Ga.): Steve Syers is now senior sales manager – customer support. Syers will be reporting to Jim Coleman, V.P. of sales, and will assume overall responsibility for account representatives and customer service. Syers has a B.S. in business administration from Illinois State University and brings 19 years of experience in B2B sales and the service industry. Syers was previously president of Franchise Gator before the company was sold.
In other news at Halco, Jan McQuain is now national accounts manager. She reports to Jim Coleman and will be establishing a support system for specification sales between national end-user accounts and Halco’s distribution network. McQuain attended Westbark College, is a member of the Atlanta Society of Training and Development, has obtained several certifications including TQM Certification for ISO-9001 and is High Performance Leadership Certified.
General Cable secures three-year exclusive to sell Mercury Cable products
Mercury Cable & Energy, Dana Point, Calif., announced it has signed a three-year deal giving General Cable Corp., Highland Heights, Ky., exclusive rights to purchase and sell its products in the United States and Canada. Mercury Cable makes high-voltage composite-reinforced conductors (HVCRC) for electrical transmission lines.
Schneider Electric outlines India growth plans
Schneider Electric plans to quadruple its sales in the fast-growing India market over the next three years, according to a report from ELECRAMA 2010 on the website Tech Whack, a technology website based in India. Schneider Electric introduced five new product lines for the Indian market from its power, energy efficiency, ISC (installation systems and control) and industrial units.
“India is part of the select group of 5 most important countries of Schneider Electric,” Olivier Blum, managing director, Schneider Electric India, is quoted as saying. “And, the range of products, solutions and services launched today suggests our growing thrust on research and development. Globally, an investment of nearly five per cent out of the global turnover is made in R&D, out of which a significant part will be spent in India. We intend to increase our market share in India by quadrupling our sales turnover by 2013.”
Duke Power Acquires Massive Solar Farm in San Antonio
Duke Energy, Charlotte, will acquire a 139-acre solar photovoltaic project under development in San Antonio, Texas. Duke Energy Generation Services (DEGS), a Duke Energy Commercial Businesses unit that owns and develops renewable power assets, will purchase the Blue Wing Solar Project from juwi solar Inc., based in Boulder, Colo. The 14MW (16MW direct current) project will consist of 214,500 ground-mounted First Solar thin film panels. Construction will follow the close of the acquisition, which is expected in the first quarter of 2010. The 139-acre project is expected to be completed and energized by the fourth quarter of 2010. No other terms were disclosed.
“Duke Energy’s acquisition of the Blue Wing Solar Project adds an exciting new dimension to our renewable power business,” said Wouter van Kempen, president of DEGS. “We took our wind energy business from zero megawatts to more than 730 megawatts in under three years, so I’m very confident we can grow our solar power business.”
Duke Energy alredyowns and operates 733MW of commercial wind power generation – a figure that will rise to nearly 1,000 MW by the end of 2010. In total, the company has committed more than $1 billion since 2007 to build its wind energy business.
Eaton 4Q YTY Net Profit Stronger than Expected
Sandy Cutler, Eaton’s chairman and CEO, said the company’s fourth-quarter net income YTY was stronger than anticipated. Net income was $211 million compared to $163 million in 2008, an increase of 29 percent. Sales in the quarter were $3.1 billion, 10 percent below the same period in 2008. For the full year 2009, sales were $11.9 billion, 23 percent less than 2008. Net income was $383 million, a decrease of 64 percent over 2008,
“We had a strong fourth quarter, with earnings considerably higher than our guidance at the start of the quarter due principally to improved operating performance,” he said. “As we anticipated, our markets improved very modestly in the fourth quarter, reflecting a continuation of the slow global economic recovery.
He sees modest growth in 2010. “We estimate our markets for all of 2010 will grow 5 percent, and we expect to outgrow our end markets in 2010 by approximately $300 million,” said Cutler. “We also expect approximately $450 million of growth from foreign exchange. In total, we anticipate our revenues in 2010 will likely grow by 11 percent compared to 2009. Details
DOE to Loan $465 Million to Tesla Motors for Development of Electric Vehicles
The Department of Energy (DOE) has closed its $465 million loan with Tesla Motors Inc. for construction of a manufacturing facility in southern California on the Model S electric sedan and a power-train manufacturing facility in Palo Alto, California. The Palo Alto facility will assemble electric vehicle battery packs, electric motors, and related electric vehicle control equipment, both for Tesla’s own electric vehicles and for sale to other automobile manufacturers.
The agreement was negotiated and signed by the Department’s Loan Programs Office, which supports the development of innovative, advanced vehicle technologies to create thousands of clean energy jobs while helping reduce the nation’s dependence on foreign oil. “This is an investment in our clean energy future that will create jobs and reduce our dependence on foreign oil,” said DOE Secretary Steven Chu. “It will help build a customer base and begin laying the foundation for American leadership in the growing electric vehicles industry. This is part of a sustained effort to develop and commercialize technologies that will be broadly deployed throughout the American auto industry.”
Tesla’s planned Model S will consume no gasoline and will not produce any tailpipe emissions. It is being designed to offer a variety of range options depending on the battery pack used, from 160 to 300 miles on a single charge. Volume production of the Model S is planned to begin in 2012 with a target production capacity of 20,000 vehicles per year by the end of 2013. According to Tesla, the Model S project and power-train manufacturing facility are expected to create over 1,600 jobs.
PNM & First Solar Sign to Install 22MW of Utility-Scale Solar Power in New Mexico
PNM, New Mexico’s largest electric utility, has signed a contract with First to construct 22MW of utility scale photovoltaic (PV) solar power plants in New Mexico. First Solar, Tempe, Ariz., will construct the facilities using its advanced PV panels at five separate sites within PNM’s service territory. PNM says the 22MW can produce enough power to supply 7,000 average-sized New Mexico homes. The specifics of that plan, to be filed with the New Mexico Public Regulation Commission (PRC) on Jan. 25, call for a total of 45 MW of utility scale solar PV to be added to PNM’s system in the 2010-2011 timeframe.
Robroy Industries Conduit Division Appoints Bill Fisher as National Sales Manager
Robroy Industries, Conduit Division (Gilmer, Texas): Bill Fisher has been appointed national sales manager. Prior to joining Robroy Industries, Fisher was with United Copper Industries (UCI), Denton, Texas, a manufacturer of copper building wire. While at UCI, he held severals sales management posts. Fisher earned his Bachelor’s of Science degree from Texas Tech University.