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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
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Delaware
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25-1723345 |
(State or other jurisdiction of
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(IRS Employer Identification No.) |
incorporation or organization) |
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225 West Station Square Drive |
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Suite 700 |
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Pittsburgh, Pennsylvania 15219
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(412) 454-2200 |
(Address of principal executive offices)
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(Registrants telephone number, including area |
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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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)) |
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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
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Exhibit 99.1
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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.
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WESCO INTERNATIONAL, INC.
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By: |
/s/ Richard P. Heyse
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Richard P. Heyse |
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Vice President and Chief Financial Officer |
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Dated: June 8, 2010
EXHIBIT INDEX
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Exhibit No. |
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Description |
Exhibit 99.1
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Press Release of WESCO International, Inc., dated as of June 8, 2010 |
exv99w1
Exhibit 99.1
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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 nations
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 Companys Annual Report on Form 10-K for the fiscal
year ended December 31, 2009, as well as the Companys 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