WESCO International, Inc. Announces the Acquisition of the Business of Potelcom Supply, Inc.
PITTSBURGH, June 30 /PRNewswire-FirstCall/ -- 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 it has acquired the business of Potelcom Supply, Inc. headquartered in Anchorage, Alaska. Potelcom, a single branch operation with annual sales of approximately $25 million, supports the utility, industrial and government markets in Alaska.
Stephen A. Van Oss, Senior Vice President and Chief Operating Officer stated, "This acquisition strengthens and expands our utility, industrial and government market positions in Alaska, as well as broadens our supplier lines. Combining Potelcom's cabling expertise, with WESCO's industrial MRO and construction expertise, and data communication product offerings provides a complete solution for our customers in Alaska. The Potelcom organization is well regarded in the Alaskan marketplace and we are pleased to welcome them as part of WESCO. The acquisition should be immediately accretive to earnings."
Gary Erber, Potelcom's President commented, "Our association with WESCO provides growth opportunities for our employees and additional resources and programs for our customers. We are pleased to become a member of the WESCO organization and to continue to serve our base of customers in Alaska under the Potelcom banner."
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.
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.
Source: WESCO International, Inc.