WESCO International
Encyclopedia : W : WE : WES : WESCO International
WESCO International NYSE: [WCC]
History
In 1922 WESCO Distribution was formed as a spinoff of industrial conglomerate Westinghouse also based in Pittsburgh. It had existed for decades within Westinghouse as the subsidiary charged with selling and distributing company components in the electrical and industrial fields. Keeping close ties to its parent, WESCO prospered and grew its reputation as a trusted source of electronic and heavy industry products.In 1994, the firm Clayton, Dubilier & Rice (CD&R) arranged for the purchase of WESCO from Westinghouse by CDW Holdings. In 1998, WESCO acquired Brown Wholesale Electric and Avon Electrical Supplies.
CDW Holdings filed to take WESCO public in 1998, but instead sold it to a group backed by Cypress Group LLC. This group formed WESCO International, Inc., which is the current owner of WESCO Distribution.
On May 12, 1999, WESCO held its initial public offering on the New York Stock Exchange, selling 9.72 million shares for $18 per share, raising $175 million.
Today
WESCO International is a multinational leader in distribution of time critical industrial components. It has over 350 full-service locations in five nations, including five high technology distribution centers. WESCO has more than 100,000 customers worldwide. The company had $3.7 billion in sales during 2004. The company is also a procurement specialist, providing supply chain cost relief and efficiency to organizations worldwide.WESCO subsidiaries
- Avon Electrical Supplies
- EESCO
- WESCO SPS
- WESCO Canada
- WESCO China
- WESCO Mexico
Management
Job: name, age, pay- CEO: Roy W. Haley, 58, $2.15M
- CFO: Stephen A. Van Oss, 50, $712K
- COO: John Engel, 42
- Vice President Operations: Donald H. Thimjon, 61, $522K
- Vice President Operations: William M. Goodwin, 59, $522K
External links
External links
| Pittsburgh-based Corporations (Within the Pittsburgh Metro Area) |
|---|
| Pittsburgh-based Fortune 500 Corporations: Alcoa | U.S. Steel | PPG | H.J. Heinz | PNC Financial | Mellon Financial | WESCO International |
| Pittsburgh-based Fortune 1000 Corporations: Allegheny Energy | Consol Energy | Allegheny Technologies | Dick's Sporting Goods | Kennametal | American Eagle Outfitters | Wheeling-Pittsburgh Steel | Mylan | GNC |
| Pittsburgh-based non-public or externally owned corporations: 84 Lumber | Bayer USA | DQE | Eat'n Park | FedEx Ground | Giant Eagle | Guru.com | Highmark | Koppers | Michael Baker | Mine Safety Appliances | NOVA Chemicals | Oxford Development | Pittsburgh Brewing Company | Rolling Rock Beer | Sarris Candies | Respironics, Inc. | Rue 21 | Telerama | Vivisimo | Wabtec |
From Wikipedia, the Free Encyclopedia. Original article here. Support Wikipedia by contributing or donating.
All text is available under the terms of the GNU Free Documentation License See Wikipedia Copyrights for details.