Rexel/GexPro parent to move into former CompUSA office in Dallas
International Electric Supply Corp., the parent company of Rexel and GexPro, has leased about 92,000 square feet in the former CompUSA building in north Dallas, according to report in the Dallas Morning News. The article said the company would be moving from its building on LBJ Freeway in Dallas.
EMCOR wins maintenance contract for Phoenix biotech facility
Electrical work will be part of a facility maintenance contract Caris Life Sciences Inc., Phoenix, recently awarded the University Mechanical & Engineering Contractors Inc. (UMEC) subsidiary of EMCOR Group Inc., Norwalk, Conn. UMEC will install the mechanical systems at Caris Life Sciences' build-out in Phoenix of 30,000 square feet, including a lab, lab support area, office space area, and a 5,000-square-foot mechanical mezzanine. Caris Life Sciences is a provider of diagnostic and pharmaceutical services encompassing anatomic pathology and molecular testing.
Acuity Brands posts 2Q results
Acuity Brands, Atlanta, said its 2010 second-quarter sales were down less than one percent YTY despite continuing tough conditions in the nonresidential market. The company had net sales of $383.5 million for the second quarter, down less than one percent compared with the same period a year-ago.“We continue to see a very challenging economic environment for the remainder of our fiscal year 2010, said Vernon Nagel, the company's chairman, president and CEO. “Key indicators for non-residential construction continue to signal a decline. Independent third-party forecasts continue to signal that for our fiscal 2010 the year-over-year percentage decline for net sales in the overall markets we serve will be in the mid-teens. Despite these challenges, we continue to see opportunities.
“In addition to our fiscal 2009 acquisitions of Sensor Switch and LC&D, which significantly increased our presence in the growing lighting controls market, we are accelerating investments to create more innovative and energy-efficient products, enhance services to our customers, and expand market presence in key geographies and sectors such as home centers and the renovation and relight market.”
Springfield Electric Supply to open first Iowa branch April 12
Springfield Electric Supply Co., Springfield, Ill., will open a location in Davenport, Iowa, on April 12, according to an article in the Quad City Business Journal. The report said the 22,000-square-foot location will have 14 employees and be the company's first location outside of Illinois. It's Springfield Electric Supply's 13th location.
Eaton says health-care bill will add $25 million to its income taxes
Eaton Corp., Cleveland, said the new health care legislation will increase its income tax expense by $25 million through a non-cash, one-time charge taken in the first quarter of 2010. The $25 million charge relates to the write-off of deferred income tax assets because the new law eliminates the non-taxable nature of the retiree drug subsidy received by the company. Although this change in income tax deductibility does not take effect until 2013, Eaton is required to recognize the charge in the first quarter of 2010 when health-care legislation was signed into law. This charge was not considered in guidance for first quarter or full year 2010.
Arrow Electronics to showcase LED lighting at Lightfair
As the lighting industry begins to shift to solid-state, electrical distributors are seeing lots of new competition. For example, Arrow Electronics, one of the largest electronics distributors, is pushing hard into the lighting. The Melville, N.Y.-based distributor will showcase LED lighting design at Lightfair, May 12-14 in Las Vegas.
Schneider ready to meet Ontario feed-in tariff regulations
Schneider Electric, Palatine, Ill., said it's ready to produce inverters that comply with new feed-in tariff (FIT) renewable energy regulations in Ontario, Canada. The FIT regulations provide a guaranteed pricing structure for electricity generation from renewable energy sources, allowing development of alternative energy sources without economic efficiency and cost-effectiveness being the primary drivers. The FIT program, being implemented by the Ontario Power Authority, includes requirements for Ontario-based equipment.
Schneider bought Xantrex, Mississauga, Ontario — an inverter manufacturer that previously focused primarily on the off-grid market — in 2008 and made it the focus of its Renewable Energies business unit. Schneider will produce three 480V and 208V (AC) FIT-compliant models of its Schneider Electric Xantrex GT-series inverters by August 2010, and the rest will be released at the end of 2010 for delivery in 2011.
Generac reports 2009 financials
Fresh from its initial public offering, Generac Holdings Inc., Waukesha, Wis., had some good news for investors about its 2009 fourth-quarter and full-year financials, reporting a single-digit gain in full-year sales and gains in profitability.