e8vk
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 8, 2010
WESCO International, Inc.
(Exact name of registrant as specified in its charter)
Commission file number 001-14989
     
Delaware   25-1723345
(State or other jurisdiction of   (IRS Employer Identification No.)
incorporation or organization)    
     
225 West Station Square Drive    
Suite 700    
Pittsburgh, Pennsylvania 15219   (412) 454-2200
(Address of principal executive offices)   (Registrant’s telephone number, including area
    code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 


 

Item 7.01. Regulation FD Disclosure.
     The information in this Item 7.01 is being furnished and shall not be deemed “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in this Item 7.01 shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.
     On June 8, 2010, WESCO International, Inc. announced that it had completed the sale of its 40% interest in LADD Industries, Inc. A copy of the press release announcing the completion of this sale is included in Exhibit 99.1 to this report and is being furnished in accordance with Regulation FD of the Securities and Exchange Commission.
Item 9.01. Financial Statements and Exhibits.
     (d) Exhibits
     
Exhibit 99.1
  Press Release of WESCO International, Inc., dated as of June 8, 2010

 


 

SIGNATURE
     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  WESCO INTERNATIONAL, INC.
 
 
  By:   /s/ Richard P. Heyse    
    Richard P. Heyse   
    Vice President and Chief Financial Officer   
 
Dated: June 8, 2010

 


 

EXHIBIT INDEX
     
Exhibit No.   Description
Exhibit 99.1
  Press Release of WESCO International, Inc., dated as of June 8, 2010

 

exv99w1
Exhibit 99.1
     
(WESCO DISTRIBUTION LOGO)
   
News Release
 
WESCO International, Inc. / Suite 700, 225 West Station Square Drive / Pittsburgh, PA 15219
WESCO International, Inc. announces completion of the sale of
LADD Industries, LLC
PITTSBURGH, June 8, 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 announces the completion on June 7, 2010 of the sale of its 40% interest in LADD Industries, LLC to Deutsch Engineered Connecting Devices, Inc. as previously announced on May 6, 2010.
WESCO received consideration of $40 million plus repayment of a $15 million promissory note and accrued interest. The proceeds are expected to be used to reduce variable rate debt. The Company estimates a quarterly earnings per share reduction of approximately $0.03 per share on a full quarter run rate basis due to the expected loss of equity and note income, offset by the anticipated reduction in interest expense from the use of sale proceeds. The above assumes an effective tax rate of 29.5% and 43.7 million fully diluted shares.
# # #
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.
Contact: Richard Heyse, Vice President & Chief Financial Officer
WESCO International, Inc. (412) 454-2392, Fax: (412) 222-7566
http://www.wesco.com