Thomas & Betts Corp. (NYSE:TNB), Memphis, named Charles (Chuck) Treadway, 45, its president and chief operating officer. Treadway will be responsible for providing strategic and operational leadership to the company’s three global business segments – Electrical, Steel Structures and HVAC. Treadway has served as senior vice president and group president of the company’s $1.8 billion global electrical business since joining the company in early 2009. Prior to joining T&B, Treadway spent more than 20 years leading international businesses for Schneider Electric, Prettl International and Yale Security. T&B also named Imad Hajj to the newly created role of senior vice president – International and Operational Development. In this role, Hajj, 50, a 28-year T&B veteran with broad global and cross-functional experience, will be responsible for the company’s strategic operational activities, including the integration and refinement of manufacturing, supply chain and logistics resources. Details.
Archive for February, 2011
Elliott Electric buys Key Electric Supply from IES
Integrated Electrical Services, Inc. (Nasdaq: IESC), Houston, has sold the sale of Key Electric Supply, its electrical distribution business. Key Electric Supply, also located in Houston, is a residential and commercial distributor of electrical products that had been one of the rare instances of a distributor owned by an electrical contracting firm. A press release from IES announcing the conclusion of the sale referred to Key Electrical Supply as a “non-strategic asset.”
Michael Caliel, IES president and CEO, said IES is focusing on its electrical and communications businesses. “We concluded this was a constructive opportunity to divest another non-core business,” he said. “Moreover, we believe the transition of ownership to Elliott Electric Supply, Inc. will be a positive development for both Elliott and Key’s customers and employees.”
Mad Money’s Jim Cramer calls Eaton’s Sandy Cutler “CEO of the Year”
Jim Cramer fans know Eaton is one of Cramer’s favorite stocks, but the Mad Money madman has taken this admiration to a new level, recently calling CEO Sandy Cutler CEO of the year, according to a posting on the Seeking Alpha blog. Eaton’s stock has been on quite a tear as of late. The share price has spiked from a low of $31.11 in March 2009 to its recent high of approximately $110 for a gain during this time period of more than 250%.
Bloomberg reports Siemens may spin off Osram Sylvania lighting business as an IPO
Bloomberg reported today that Siemens AG is considering an IPO for its Osram business unit, which includes Sylvania Lighting. The article said Morgan Stanley estimates Osram has an enterprise value of 6.5 billion euros ($9 billion) to 7 billion euros and that the company is the second-largest lighting company in the world after Royal Philips Electronics NV, which owns Philips Lighting. Details
Van Meter appoints Wilhelm as director of energy services & solutions
Van Meter Industrial (Cedar Rapids, Iowa):Karmen Wilhelm was recently named director of energy services and solutions at Van Meter Industrial. She previously held the position of manager in the Product Management – Energy Efficiency department at Alliant Energy in Cedar Rapids, Iowa. As director of energy services and solutions, Wilhelm will be leading Van Meter Industrial’s clean energy initiative encompassing energy efficiency, renewable energy and smart grid technologies.
Tri-Tech Sales Associates to Rep Perma-Cote in New York City Area
Perma-Cote, Gilmer, Texas, signed on Tri-Tech Sales Associates to rep it is line of PVC-coated galvanized rigid conduit the New York City Area. Founded in 1981, Tri-Tech Sales AssociatesInc. covers the five boroughs of New York City, the New York State counties of Orange, Rockland, Dutchess, Sullivan, Putnam, Westchester, Nassau and Suffolk; all areas in New Jersey, north of Trenton and Asbury Park.
New publisher at TED magazine
National Association of Electrical Distributors (NAED) (St. Louis, Mo.): Craig Riley, long-time publisher of Industrial Distribution magazine, has been appointed publisher of TED magazine. Riley’s appointment comes after the previous TED publisher, Michael Martin, left to become president and CEO of the National Wood Flooring Association, based in St. Louis. Riley worked for Industrial Distribution magazine for nearly 20 years until it ceased operations in 2009. Before that time, he worked in sales roles for Purchasing magazine and Applied Technology’s Maintenance Technology magazine. He had recently been working for TED as an electronic media specialist.
Letham to retire as Anixter CFO and executive VP this June
Anixter International Inc. (Glenview, Ill.): Dennis Letham will retire as executive V.P. and CFO in June following an 18-year career with the company as CFO. Effective July 1, Ted Dosch will assume those posts Dosch has served as the company’s senior V.P.- global finance since January 2009. Prior to joining Anixter, Dosch served in a variety of senior financial management positions with Whirlpool Corp., most recently CFO, North America. He is also a member of the board of directors of Habitat for Humanity International, where he currently serves as vice-chair of the board.
Growth Wizards Airing Feb. 24 Webinar
Neil Gillespie and Allen Ray of Growth Wizards will be conducting the latest in their series of “Fitness Club” webinars on distributor operations on Friday, Feb. 24 at noon Eastern. Sponsored by Infor Global Solutions, Electrical Wholesaling and Industrial Supply magazines, this free webinar, “Generate More Cash with better Rebate Claims Management,” will teach electrical distributors how to solve problems in their rebate claims process.
In promoting this session, Gillespie and Ray said, “Although there is no statistic like Days Sales Outstanding for evaluating receivables performance, or number of inventory days to alert you to inventory performance problems, you really do have cash flow days tied up in rebate claims. It’s the number of days it takes to get your money after you invoice a rebate customer. And it’s robbing your bank balance.
“We’re going to show you how to spot what it is, where it is, and generate cash by compressing the time it takes to get your money back by claiming quickly, accurately and electronically.”
The webinar is free and attendees can reserve a seat by clicking here.
Acuity’s Roam monitoring system to control Austin’s lighting
Acuity Brands’ Roam remote monitoring business, based in Kennesaw, Ga., said it has been selected by the city of Austin, Texas, for a comprehensive street lighting upgrade project. The project will enable the city to control each of its approximately 70,000 streetlights with the click of a mouse, once it’s completed in 2014. The city expects annual savings of more than $1 million in combined energy and maintenance costs. The system will be installed and managed by Austin Energy, which will monitor and control the streetlights using data received every hour from the wireless Roam devices via a web-based communication system.