Attached files
| file | filename |
|---|---|
| EX-10.2 - EX-10.2 - WESCO INTERNATIONAL INC | l41366exv10w2.htm |
| EX-10.1 - EX-10.1 - WESCO INTERNATIONAL INC | l41366exv10w1.htm |
| 8-K - FORM 8-K - WESCO INTERNATIONAL INC | l41366e8vk.htm |
Exhibit 99.1
WESCO Completes Acquisition of TVC Communications
PITTSBURGH, December 16, 2010/PRNewswire/ — WESCO International, Inc. (NYSE: WCC), a leading
provider of electrical and industrial MRO products, construction materials, and advanced integrated
supply procurement outsourcing services, today announced that WESCO Distribution, Inc. has
completed its previously announced acquisition of TVC Communications, L.L.C. (TVC) for a purchase
price of $246.5 million, subject to certain adjustments. TVC is a leading distributor of broadband
communications network infrastructure products serving the cable, telecommunications and satellite
industries.
Mr. John J. Engel, WESCO’s President and Chief Executive Officer stated, “WESCO’s data
communication product sales are approximately $1 billion after the acquisition of TVC
Communications. We believe the long term growth potential in data communications is very attractive
and we are well positioned for continued growth. As previously stated, we anticipate the TVC
acquisition will be immediately accretive and estimate an improvement to WESCO’s 2011 diluted
earnings per share of approximately $0.30 or more.”
# # #
About WESCO: 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. 2009 annual sales were approximately $4.6 billion.
The Company employs approximately 6,100 people, maintains relationships with over 17,000 suppliers,
and serves over 100,000 customers worldwide. Major markets include commercial and industrial
firms, contractors, government agencies, educational institutions, telecommunications businesses
and utilities. WESCO operates seven fully automated distribution centers and approximately 380
full-service branches in North America and select international markets, providing a local presence
for area customers and a global network to serve multi-location businesses and multi-national
corporations.
About TVC: For more than 50 years, TVC Communications, L.L.C. has been providing integrated
business solutions to the broadband telecommunications industry. Whether a network uses fiber optic
cable, twisted pair or coaxial cable, TVC offers the technical products and supportive services to
help its customers understand and meet their communications goals in the US, Canada, Caribbean,
Mexico, Central and South America. Backed by close working relationships with top manufacturers
and a deep understanding of the applications and technology behind the products it sells, TVC has
proven itself to be a valued partner to both the broadband cable and telecommunications industries.
The matters discussed herein may contain forward-looking statements that are subject to certain
risks and uncertainties that could cause actual results to differ materially from expectations.
Certain of these risks are set forth in the Company’s Annual Report on Form 10-K for the fiscal
year ended December 31, 2009, as well as the Company’s other reports filed with the Securities and
Exchange Commission.
Contact: Richard Heyse, Vice President & Chief Financial Officer
WESCO International, Inc. (412) 454-2392, Fax: (412) 222-7566
WESCO International, Inc. (412) 454-2392, Fax: (412) 222-7566