United States

News aus der Elektroindustrie

19
Jun

In the United States, the NAED (National Association of Electrical Distributors)......

In the United States, the NAED (National Association of Electrical Distributors) and NECA (National Electrical Contractors Association) have decided to work together to share the opportunities in the electrical industry and avoid duplication. A joint task force should ensure greater efficiency and thus more joint growth.  

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City Electric Supply (CES) has opened a further three branches..... 

City Electric Supply (CES) has opened a further three branches in the United States in recent weeks and continues to grow. There are now 481 branches in 31 states; this makes it one of the largest electrical wholesalers in the country.

City Electric Supply is better known in Europe as City Electrical Factors (CEF), from the United Kingdom.

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Cree from Durham / NC sells its lighting division (Cree Lighting) to Ideal Industries in Sycamore / IL. The selling price is approx.. 310 m USD (274 m EUR) before tax. Cree expects a down payment of 225 m USD (200 m EUR) and another bonus payment upon completion of the transaction.
 

Cree from Durham / NC sells its lighting division (Cree Lighting) to Ideal Industries in Sycamore / IL. The selling price is approx.. 310 m USD (274 m EUR) before tax. Cree expects a down payment of 225 m USD (200 m EUR) and another bonus payment upon completion of the transaction.

The completion of the transaction is expected for the 4th quarter, after approval by the various antitrust authorities.

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Lowe is the second largest home improvement retailer in the US after Home Depot, with sales of USD 55.66 bn (EUR 48.95 bn)........

Lowe is the second largest home improvement retailer in the US after Home Depot, with sales of USD 55.66 bn (EUR 48.95 bn).

in the 9 months of its 2018 fiscal year (February - October), compared to a year ago this was a plus of 4.8%. Net earnings were USD 3.1 bn (EUR 2.7 n); an increase of 8.5%.

Despite the good results, the new CEO Marvin R. Ellison was not satisfied with some sections and problems in certain categories.

Lowe does not look for short-term solutions to these problems; they want to redesign processes and systems in order to achieve sustainable improvements. Activities that are no longer part of the core business or branches that underperform will be closed.

These include now 20 stores in the United States, and 31 stores in Canada; Furthermore, they intend to exit their retail operations in Mexico.

Now it's all about focusing on the 4th quarter and its core business.

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Wesco International from Pittsburgh/ Pennsylvania, one of the largest electrical and industrial wholesalers........

Wesco International from Pittsburgh/ Pennsylvania, one of the largest electrical and industrial wholesalers........

in the US, increased its turnover to USD 2.1 bn (EUR 1.8 bn) in the third quarter; this was an increase of 3.4% compared to the same period of the previous year.

Operating income amounted to USD 97.5 m (EUR 85.6 m), up 9.8%.


For the 9 months of the year, this translates into revenues of USD 6.2 bn (EUR 5.4 bn); plus 8.8% compared to 2017.

For the coming year the CEO John J. Engel, expects above-average results and sales growth by 3% - 6%.

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Imark merges with two of the most well-known plumbing and heating marketing groups in North America on January 1, 2019.

Imark merges with two of the most well-known plumbing and heating marketing groups in North America on January 1, 2019.

These are Omni Corporate Services of Aurora, Ohio and Equity Plumbing of Lake Mary, Florida. The new name of the extended organization will be: IMARK with the addition Electrical or Plumbing.

John Aykroyd, the current president of Omni Corp. will be the new president of IMARK Plumbing; Matt Roos of Equity becomes vice president of IMARK Plumbing and IMARK Electrical. Robert P. (Bob) Smith will become President (CEO) of the expanded IMARK Group.

IMARK has been a member of the IMELCO marketing organization for several years, and as we reported on June 20, Bob Smith was also elected as the new Chairman of the Imelco Group at their Annual General Meeting. He replaced Simon Barkes from the UK.

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City Electric Supply (CES) moves its headquarters to downtown Dallas, the former, and now newly renovated........

City Electric Supply (CES) moves its headquarters to downtown Dallas, the former, and now newly renovated........

Belo building, which incidentally is owned by the President and CEO of City Electric Supply. CES is one of the 10 largest electrical wholesalers in the US and continues to grow.


City Electric Supply, better known in Europe as City Electrical Factors (CEF), respectively now Yesss Elektro.
 

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For weeks there have been discussions about the further strategy and the restructuring of the giant General Electric.

For weeks there have been discussions about the further strategy and the restructuring of the giant General Electric.

And again and again in this context, the name of the highest boss John Flannery fell. They accuse him of the wrong approach, and the share price reached a further low with a value of less than 12 USD (10.34 EUR).

John L. Flannery became CEO of GE in August 2017 after longtime Chairman Jeffrey R. Immelt retired after 16 years (2001 - 2017); and even before that, a very big man was at the helm (John Francis "Jack" Welch from 1981 - 2001).

The Board of Directors has now unanimously agreed to replace Flannery and immediately appointed Lawrence Culp, Jr. as the new Chairman and CEO. He will be joined by Thomas W. Horton, as Lead Director, who, like Culp, has been on the board since April of this year.

Of course, the stock market reacted immediately with a price jump upwards.

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The American Atkore Group (consisting of more than 20 companies) from Harvey / Illinois has acquired with the Belgian Vergokan,.........

The American Atkore Group (consisting of more than 20 companies) from Harvey / Illinois has acquired with the Belgian Vergokan,.........

another metal cabletray and cable ladder manufacturer, in addition to its already diversified range of metal trunking systems (the most well-known being Unistrut, Allied, Calconduit i.a.).

Vergokan was part of the finance company Pentahold, which invests mainly in the Benelux in industrial and retail companies.

The acquisition is effective from October 1; and with this transaction, Atkore aims to further expand its presence in Western Europe in the cable management sector.

 

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Lowe is the second largest home improvement retailer in the US after Home Depot, with sales of USD 68.6 bn (EUR 55.8 bn)........

Lowe is the second largest home improvement retailer in the US after Home Depot, with sales of USD 68.6 bn (EUR 55.8 bn)........

in 2017/2018 (end of February 2018). It operates 2,152 stores in Canada, Mexico and the US, employing over 310,000 people.


After a difficult second quarter divesting  the Orchard Supply Hardware division, the new CEO Marvin R. Ellison, has proposed a number of changes, including: they have analyzed their Pro- customers and found out that they have very simple expectations and that starts with the service first of all. As "time is money" also applies to this customer group, it is important that consulting staff is always available, and moreover, the diversity of the offer should make it easy for them to always choose and get the right product for a specific job. Slow turners are sorted out and replaced with high turnover products.

Lowe believes that branded products attract customers, so they work closely with their current suppliers to make sure that they continue to be loyal to Lowe, but at the same time meet new suppliers with new product lines in order to close product gaps and address even more customers.

Customers want reliable brands, so brand manufacturers need to invest in brand care.

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