WESCO International, Inc. Announces Acquisition of Monti Electric Supply, Inc.
PITTSBURGH, Dec. 4 -- WESCO International, Inc. (NYSE:WCC), a leading provider of electrical MRO products, construction materials, and advanced integrated supply procurement outsourcing services, today announced that it has acquired the assets of Monti Electric Supply, Inc. headquartered in Waveland, Mississippi. Monti Electric, with three branch locations and annual sales of approximately $20 million, is a well- established, construction oriented electrical distributor.
Stephen A. Van Oss, WESCO's Senior Vice President and Chief Financial and Administrative Officer stated, "The addition of Monti Electric will provide WESCO with a broader market position to benefit from the long-term hurricane- related reconstruction of the Gulf Coast region. The acquisition should be immediately accretive to earnings."
Joe Monti, President of Monti Electric Supply said, "We are very eager to join the WESCO team. The combination of Monti Electric Supply's local market knowledge and customer relationships and WESCO's large construction project experience and national resources will enable us to capture a significant share of the growth forecast for our region."
WESCO International, Inc. (NYSE:WCC) is a publicly traded Fortune 500 holding company, headquartered in Pittsburgh, Pennsylvania, whose primary operating entity is WESCO Distribution, Inc. WESCO Distribution is a leading distributor of electrical construction products and electrical and industrial maintenance, repair and operating (MRO) supplies, and is the nation's largest provider of integrated supply services. 2006 annual sales were approximately $5.3 billion. The Company employs approximately 7,100 people, maintains relationships with over 26,000 suppliers, and serves more than 110,000 customers worldwide. Major markets include commercial and industrial firms, contractors, government agencies, educational institutions, telecommunications businesses and utilities. WESCO operates seven automated distribution centers and approximately 400 branches in North America and selected international markets, providing a local presence for area customers and a global network to serve multi-location businesses and multi-national corporations.
FCMN Contact: jgoberish@wescodist.com
Source: WESCO International, Inc.
CONTACT:
Stephen A. Van Oss,
Senior Vice President and Chief Financial and Administrative Officer,
of WESCO International, Inc.,
+1-412-454-2271,
Fax: +1-412-454-2477
Web site: http://www.wesco.com/
