AD Announces Electrical Divisions’ 2011 Year-End Results
Commitment to Independent Distributors Yields Double-Digit Growth
Affiliated Distributors (AD), Wayne, Pa., released their Electrical Divisions’ year-end results with US sales having grown 19% to $11.2 billion and Canadian sales having grown 10% to $852 million, respectively. AD Affiliates also set new records for both net distributions and return on remittances.
David Oldfather, president, Electrical Divisions, said “Our commitment to exclusively supporting independent Electrical divisions of all sizes is definitely yielding some impressive results. In addition to experiencing above market growth during this past year, our Affiliates added over 950 new Distributor employees, made 14 acquisitions, and approved the addition of 38 new Clean Energy Suppliers to the AD Preferred Supplier list.” Oldfather adds, “Our AD Clean Energy program, along with AD’s willingness to pursue new growth opportunities for both our distributors and suppliers should help stimulate additional growth in 2012 and beyond.”
According to Bill Weisberg, CEO, “In spite of tremendous market uncertainty and stiff competition, our independent Distributors and Suppliers battled back from the depths of the Great Recession to sales levels that now exceed their peak in 2008.”
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A-D announces 2011 sales results
Rep News: Myers & Associates names Ragle to sales management post
Myers & Associates Electrical Sales (Norman, Okla.): Clint Ragle, LEED AP, is the new director of medium voltage sales for the state of Oklahoma. He will direct all agency efforts for the industrial division of Copper Power Systems, DSG Canusa, Olsun Electrics and Pencell Plastics. Specific product responsibility includes medium-voltage transformers, switches, capacitors, terminations, and wire & cable. Ragle’s client base will include engineers, contractors, distributors and end users.
Rexel acquires Liteco in Canada’s maritime provinces
Rexel, Paris, France, said it has acquired Liteco, the largest independent distributor of electrical supplies in the Canadian Maritimes region. This acquisition complements Rexel’s position as the largest electrical distributor in Canada, one of the world’s largest markets. Rexel said the move is consistent with its strategic aim of strengthening its market share in key mature markets.
Founded in 1976 and headquartered in Fredricton, New Brunswick, Liteco has 13 branches in the provinces of New Brunswick, Nova Scotia and Prince Edward Island employing about 120 people to serve a large base of customers in the residential, commercial, industrial and marine sectors. Liteco posted sales of approximately €50 million (about US$66 million) in 2011 and its profitability is in line with Rexel’s operations in the country, Rexel said.
Rexel has over 200 branches across Canada that added about €1.2bn (just under US$1.6 billion) to the Rexel Group’s consolidated sales and posted double-digit organic growth (+11.4%) in 2011.
Platt Electric Supply to open six new branches
Platt Electric, Beaverton, Ore., has six new locations under construction in Tracy, Calif.; on the Intel campus in Hillsboro, Ore.; and in Arlington, Enumclaw, Kent and Port Angeles, Wash. When these branches open the company will have 110 locations in seven western states. In addition to these new locations, Platt Electric Supply will be adding six additional branches in the next few months.
Thomas to lead GE Industrial Solutions sales in Canada
GE Energy’s Industrial Solutions business (NYSE: GE) has appointed Adrian Thomas as the new regional sales leader for Canada. Thomas has overall responsibility for sales of GE Energy’s electrical distribution products and services in Canada, including switchboards and panel boards, uninterruptible power supplies, metering products, circuit breakers, motor controls and capacitors, as well as electric vehicle supply equipment. He is based in Montreal but will oversee sales operations at key facilities across the country, including Calgary and Toronto, GE said in a release.
Thomas began his career at GE Canada as a large-motors designer in Peterborough, followed by a transition to a marketing role for GE Energy in Montreal that featured a combination of sales and commercial operations. Later, Thomas held various positions with TMEIC, an industrial systems, drive and motor manufacturer, in Roanoke, Va., where he developed international sales experience covering growing markets in Taiwan, India and North America. He is a graduate of McMaster University in Hamilton, Ontario, with a bachelor of science in engineering.
Siemens agrees to buy RuggedCom
The Munich, Germany, corporate offices of Siemens announced today the company has entered into an agreement to acquire RuggedCom, Concord, Ontario, Canada, in a friendly, board-supported takeover bid.
The Canadian company is a provider of communications and networking solutions such as routers for harsh industrial environments. The total transaction value is estimated at about C$382 million (about US$381 million). RuggedCom’s board unanimously supports the takeover, is recommending that RuggedCom’s shareholders accept the offer, which is a contrast to their recommendation against a takeover by Belden about a month ago.
With annual revenues of approximately US$94 million (fiscal 2011) and approximately 360 employees, RuggedCom provides robust, industrial-quality Ethernet communication products and network solutions. These products are used primarily under rough environmental conditions – for example, in power distribution, in refineries, or in traffic control systems. The move expands Siemens’ offerings for the smart grid market, among others.
Wall Street Journal report on ABB acquisition of T&B
Wondering what Wall Street analysts think about this blockbuster deal? Check out this Wall Street Journal report. T&B stockholders have got to be pretty happy. According to the Business Wire release announcing the deal, “The acquisition price represents a 24 percent premium to Thomas & Betts’ closing stock price on Jan. 27, 2012 and a 35 percent premium to the volume weighted average stock price over the past 60 trading days.”
Graybar to open in Joplin
Seems the new branch they opened in Lincoln, Neb., last week wasn’t all Graybar, St. Louis, had in the works. The distributor will open a branch in Joplin, Mo., on Jan. 30. The facility, with a staff of three full-time employees, is located at 1705 S. Main St., and will stock local inventory with daily deliveries from Graybar’s Springfield, Mo., location. Area Manager Stephen Wallace will lead the branch operations. The new facility will serve the cities of Joplin, Webb City, Carthage, Neosho, Carl Junction and the counties of Newton and Jasper.
“We’ve been serving the Joplin area out of our Springfield location for some time and are excited to bring a higher level of service to our customers with this new branch,” said Graybar’s St. Louis District Vice President Mike Dumas.
Obituary: Steiner Electric’s Harold Kerman
Harold Kerman, 91, Former CEO of Steiner Electric Co., Elk Grove Village, Ill., passed away earlier this week. He was the husband of Joan Barbara (née Steiner) Kerman; son of the late George and Frieda Kerman; father of Robert J. (Diane) Kerman and Richard (Carol) Kerman; and grandfather of John (Aga) Kerman, Kyle Pucek, Joseph Kerman, Laura Jane (Eric) Meyer, Jacob, Adam, Jason Zimmerly and Josh Kerman; and special friend of Dale and Jeff Izenstark.
In lieu of flowers, memorial contributions in Harold Myron Kerman’s memory may be made to a charity of your choice. Visitation will be held Wednesday, January 25, 2012 from 4 – 8 pm at Weinstein Funeral Home, 111 Skokie Boulevard, Wilmette, IL 60091, 847-256-5700. Funeral service will be held the following day, Thursday, January 26, 11:00 am also at Weinstein Funeral Home. Interment will immediately follow at Rosehill Cemetery, Chicago, IL.
Border States Electric to close two Texas branches
Border States Electric, Fargo, N.D., is consolidating resources in the Rio Grande Valley of Texas and will close its McAllen and Weslaco branches on Ja. 26, according to a company press release. The release says the change will increase the number of employees, build up inventory, and augment the delivery fleet in the company’s Brownsville, Edinburg and Harlingen, Texas, locations to enhance customer service.
“We believe consolidating resources in Brownsville, Edinburg and Harlingen will allow us to better serve our customers and expand our service offering in the Rio Grande Valley,” said Tammy Miller, CEO, in the press statement.