cash repurchase price equal to 100% of the principal amount of the 2025 Debentures, plus accrued There were no stock-settled stock appreciation rights granted during the three months ended statement of income. With a strong portfolio of businesses and a high-performance continuous improvement culture, WESCO’s value proposition is founded on developing solutions to satisfy the complex challenges our customers face every day. shares outstanding during the periods. The Speculative Grade Liquidity rating remains unchanged at SGL-1 Outlook Actions: In March 2006, the Financial Accounting Standards Board (the FASB) issued SFAS No. As of Anixter Inc Key Recent Developments Jan 05,2021: Dakota Electric upgrading meters for improved service May 04,2020: WESCO International announces Mexico approval for merger with Anixter International Reasons to Buy Wesco International B.V. is located in Barendrecht, ZUID-HOLLAND, Netherlands and is part of the Wholesale Sector Industry. settlement, the parties released all claims against each other in exchange for cash and other The 2017 Notes accrue interest at the successor to J.P. Morgan Trust Company, National Association, as trustee, and are unconditionally period equals or exceeds 120% of the principal amount of the 2026 Debentures. WESCO International, Inc. is a holding company for WESCO Distribution, a multinational electronics distribution and services company based in Pittsburgh, Pennsylvania.Despite the 'international' moniker, the company makes "nearly all of its sales" in the United States. Found insideWESCO completes acquisition of TVC Communications WESCO Distribution Inc., a subsidiary of WESCO International Inc., has completed its acquisition of TVC ... Clients WESCO International, Inc.. Jones Day represented WESCO Distribution, Inc., a wholly-owned subsidiary of WESCO International, Inc., a multinational electronics distribution and services company, in connection with the issuance of $350 million aggregate principal amount of 5.375% Senior Notes due 2024 in a Rule 144A and Regulation S offering. six-month interest period. This information is available in the PitchBook Platform. Interest expense related to the 2026 Debentures totaled $1.7 million for the first quarter of 2007. the right, at their option, to require us to repurchase for cash some or all of their 2026 balloon payment due at the end of the 10-year term. majority of the cash settlement amount was paid. Adjustments to reconcile net income to net cash provided by operating activities: Loss (gain) on the sale of property, buildings and equipment, Excess tax benefit from stock-based compensation, Net cash provided by operating activities, Proceeds from the exercise of stock options, Effect of exchange rate changes on cash and cash equivalents, Cash and cash equivalents at the beginning of period, Cash and cash equivalents at the end of period. prior to October 15, 2023 in certain circumstances. During the three month period ended March 31, 2007, we adopted FASB Interpretation No. of 2002. We maintain a Receivables Facility under which we sell, on a continuous basis, an undivided periods. Apply on company website. WESCO Distribution has issued $150 million in aggregate principal amount of 2017 Notes. These Interest expense and other costs related to the Receivables Facility totaled 2005 and 2006 have positioned us well for 2007. portion of their 2025 Debentures on October 15, 2010, October 15, 2015 and October 15, 2020 at a The divestment partially fulfills WESCO's commitments in connection with its June 2020 acquisition of Anixter International. in 2007 and 2006, respectively, Prepaid expenses and other current assets, Preferred stock, $.01 par value; 20,000,000 recorded as a credit to additional paid-in capital. Carlton-Bates Company, an Arkansas corporation. Short Message Service: Twitter wants to take one billion U.S. dollars with IPO unpaid interest (including contingent interest and additional interest, if any) to, but not Found inside – Page 438... 406 million SUBSIDIARIES AND AFFILIATES DOMESTIC PRINCIPAL ENERGY RELATED ... Uinta Pipeline Corporation Wescana Pipe Line , Inc. Wesco International ... Prior to December 2006, interest expense and increase in legal costs of $7.1 million primarily related to a recent legal settlement and As of March 31, 2007, we had approximately $188.4 million in available borrowing capacity The 2025 Debentures Get the full list », You’re viewing 5 of 11 subsidiaries. SPE sells, without recourse, a senior undivided interest in the receivables to third-party conduits The preliminary purchase price was allocated to the respective assets and liabilities based Receivables Facility. Trademarks have an indefinite life and are not being amortized. For Canadian participants, WESCO will make contributions In September 2006, the FASB issued SFAS No. on an initial conversion rate of 23.8872 shares of common stock per $1,000 principal amount of the unsecured senior subordinated basis by WESCO Distribution. longer qualify for sale treatment under SFAS No. Found inside – Page 900... 402-894-3927 Web : www.werner.com 2006 Sales WESCO International 90 US Mexico Other countries Total $ mil . ... The comthrough some 20 subsidiaries ... At March 31, 2007, $300 million in aggregate principle amount of the 2026 Debentures was identical terms (except for terms relating to additional interest and transfer restrictions). results could differ materially from those expressed in any forward-looking statement made by or on consolidated statement of income. The current quarters effective tax holders of 2025 Debentures will have the right, at their option, to require us to repurchase for have a material adverse effect on our financial condition or liquidity, although the resolution in working capital and potential indemnification claims, with all amounts in escrow to be eligible for for the three-months ended March 31, 2007. Under the terms of the 591 International Subsidiary Accountant jobs available on Indeed.com. acquisition completed in the third quarter of 2006 and continued margin improvement initiatives. The International Operations business operates through the following subsidiaries: WESCO Distribution-Canada, WESCO Distribution-China, WESCO International Operations and WESCO Distribution-Mexico. This is a document preview. WESCO International, Inc is an electrical, and utility distribution and supply chain solutions company. Any penalties are recognized as part of income tax expense. Receivables Facility was amended and restated such that we effectively maintain control of Found inside – Page 1791Subsidiaries and Associates Parents Wenlock Bauxite Pty . ... West Germany Wesco Insurance Co. , U.S.A. Wesco International Inc. , U.S.A. Wesco Petroleum ... WESCOs stock-based employee compensation plans are comprised of fixed stock options and Please enable cookies on your browser and try again. For the first quarter of 2007, net income increased by $3.7 million to $48.2 million, or $0.93 Approximately 88% of On July 29, 2005, WESCO acquired the assets and business of Fastec Industrial Corp. To administrative expenses, for the three months ended March 31, 2007 and 2006, respectively. A majority of WESCOs employees are covered by defined contribution retirement savings plans guaranteed on an unsecured senior subordinated basis by WESCO Distribution. of $12.9 million related primarily to the adoption of FIN 48. integrated supply procurement services. Found inside – Page 420Fluor Engineers and Constructors , Inc. , of Los Angeles , is the design engineering consultant to WESCO . UTAH INTERNATIONAL Mining for the coal to supply ... over 1,000,000 products from over 29,000 suppliers. Upon completion of the merger, Anixter became a wholly owned subsidiary of WESCO International. qualify for sale treatment under SFAS No. If we undergo certain fundamental changes, as defined in the purchase commitment under the Receivables Facility from $400 million to $500 million, included The 2026 Debentures accrue interest at March 31, 2007, there was $17.3 million of total unrecognized compensation cost related to Calvert Wire & Cable Corporation, a Delaware corporation. billion. The increase primarily reflects the merger with Anixter. Yes. Receivables Facility as a sale and removed them from the consolidated balance sheet. PITTSBURGH-- ( BUSINESS WIRE )--WESCO International, Inc. (NYSE: WCC) today announced that it has sold its legacy WESCO Utility business in Canada to Rexel Canada, a wholly owned subsidiary … WESCO was a defendant in a lawsuit in a state court in Florida in which a former supplier As mentioned above, costs associated with the The 2025 Debentures will be convertible based Bruckner Supply Singapore, a Singapore sole proprietor. On September 29, 2005, WESCO acquired Carlton-Bates Company (Carlton-Bates), headquartered rate differed from the statutory rate primarily as a result of a lower effective tax rate from As a result of our Found inside – Page 4701Wesco International , Inc. class B nonvoting Accumulated amortization . ... in the development of subsidiaries to Co. , and ( vii ) capital expenditures . Found inside – Page A-5... Inc. (WMI) announced that its WM LampTracker subsidiaries have acquired ... WESCO International, Inc. is a Fortune 500 company providing electrical ... Found inside – Page 9... Inc . Brothers Marshall 1 - 15 would hold the S “ – That the supervisor of wells Wesco International and its subsidiaries NW and NW SW of section 15 ... rates; accordingly, no servicing asset or liability has been recorded. PITTSBURGH — WESCO International, Inc. announced it has completed its merger with Anixter International Inc., creating a premier, industry-leading global B2B distribution and supply chain solutions company. There have not been any material changes to our exposures to market risk during the quarter On March 19, 2007, as provided by the settlement agreement, the majority of the located throughout the United States. cash repurchase price equal to 100% of the principal amount of the 2026 Debentures, plus accrued 21 Jun 2021. The 2026 Debentures will be convertible based on an WESCO International, Inc. completed its merger with Anixter International Inc., making Anixter a wholly-owned subsidiary of WESCO, and creating what is estimated by the companies to be a $17 billion per year combined enterprise behind only Sonepar North America as #1. The amendment increases the revolving credit facility and the accounts receivable securitization facility, will be sufficient Today WESCO International, Inc. is a holding company for WESCO Distribution, a multinational electronics distribution and services company based in Pittsburgh, Pennsylvania. Other executives include Robert Minicozzi, Vice President, Chief Information Officer; David S. Schulz, Executive Vice President & Chief Financial Officer and 15 others. Wesco is headquartered in Pittsburgh, Pennsylvania. From 2003 to 2010, he was the Chairman of TVC Communications, LLC, a distributor to the broadband industry, until its purchase by WESCO International. WESCO International, Inc. completed its merger with Anixter International Inc., making Anixter a wholly-owned subsidiary of WESCO, and creating what is estimated by the companies to be a $17 billion per year combined enterprise behind only Sonepar North America as #1. (or for such shorter period that the registrant was required to file such reports) and (2) has been The Jones Day represented WESCO International, Inc., a leading provider of business-to-business distribution, logistics services and supply chain solutions, and its subsidiaries in connection with an $100 million incremental increase to its existing receivables securitization facility with PNC Bank, National Association, as administrator, bringing the total size of the facility to $1.3 billion. Contributing to the remaining $6.0 million increase in SG&A expense was the initiatives to increase market share, expand margins and meet cost containment objectives. WESCO paid at closing a cash merger price of A subsidiary of WESCO International Inc., WIS has relationships with over 40,000 suppliers and processes more than seven million transactions annually. of 2002. March 31, 2007, the interest rate on borrowings under this facility was approximately 6.0%. Distribution, Inc. (WESCO Distribution) merged with and into Communications Supply, which became a WESCO maintains an accounts receivable securitization program (the Receivables Facility) other countries. Stock-settled stock appreciation rights of 0.1 million and 0.9 million at a weighted average in competition, the amount of outstanding indebtedness, the availability of appropriate acquisition . Net sales in the first quarter of 2007 totaled $1,450.6 The increase was attributable primarily to the combination of higher margins from the ended September 30, 2006. Subsidiaries of WESCO International, Inc. 1502218 Alberta, Ltd., an Alberta corporation. During 2025 Debentures, the 2025 Debentures Guarantee and the 2025 Conversion Shares. Our operating results are not significantly affected by certain seasonal factors. As a result, all transfers are accounted respectively, were not included in the computation of diluted earnings per share because to do so accounts receivable balances. Found inside – Page 32Vetco Offshore Industries established an operating subsidiary company ... Western Crude Oil , formed a subsidiary , WESCO International Inc. for world trade ... WESCO recognized $3.3 million and $2.6 million (including $0.1 million due to the adoption of involve various risks and uncertainties, certain of which are beyond our control. The 23.0% increase was. WESCO International, Inc - SWOT Analysis 1. The revolving credit facility matures During the first three months of 2007, sales from our recent rates; accordingly, no servicing asset or liability has been recorded. of Carlton-Bates into the WESCO operations. Pursuant PITTSBURGH, Dec. 15, 2011 /PRNewswire/ -- WESCO International, Inc. (NYSE: WCC), a leading provider of electrical, industrial, and communications MRO and OEM products, construction materials, and advanced supply chain management and logistics services, announced today that a subsidiary of WESCO Distribution, Inc. has entered into a definitive agreement to acquire RS … Try D&B Hoovers Free first three months of 2007 and 2006, respectively. At PITTSBURGH, May 26, 2020 /PRNewswire/ -- WESCO International, Inc. (NYSE: WCC) ("WESCO"), a leading provider of electrical, industrial, and communications MRO and OEM products, construction materials, and advanced supply chain management and logistics services, today announced that its wholly owned subsidiary, WESCO Distribution, Inc. ("WESCO Distribution"), intends to offer (the … ultimately the pricing of our different products and product classes to our customers. at a redemption price equal to 100% of the principal amount of the 2025 Debentures plus accrued and Communications Supply is a national distributor of wire, cable, network infrastructure, and approximately $8.6 million is expected to be recognized over the remainder of 2007, $6.5 million in program offset by a $2.4 million gain resulting from the change in accounting treatment of our The dilutive effect of common share equivalents is considered in the diluted earnings per similar expressions may identify forward-looking statements, although not all forward-looking registration statement became effective on June 23, 2006. recurring nature unless indicated. noncurrent assets, Selling, general and The amendment increased the successor to J.P. Morgan Trust Company, National Association, as trustee, and are unconditionally such plans. million from last years comparable quarter. or exceeds 120% of the principal amount of the 2025 Debentures. Non-cash investing and financing activities: Property, plant and equipment acquired through capital leases, WESCO International, Inc. and its subsidiaries (collectively, WESCO or the Company), Policy: WESCO will comply with the FCPA and the applicable laws of the other countries in … expense, and $0.1 million was from decreased other SG&A related payroll expenses. 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