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Carrier Enterprise, a joint venture between Watsco and Carrier, contributed sales of $588 million for the year.
Current Wolseley CFO Steve Webster will step down after 15 years with the distributor.
Sale to a private investor backed company impacts 67 branches and about 650 employees.
The diversified wholesale distributor recorded a loss of $267 million for the quarter.
The Pensacola location will serve plumbing contractors in northwest Florida and southwest Alabama.
WinWholesale subsidiary expands in Florida and Virginia.
Residential markets started to show signs of stabilizing during the first quarter for the distributor, while industrial and commercial markets are expected to remain ‘challenging’
Same-store sales fell 15%, with declines across all sales segments for the HVAC/R distributor.
Results for the electrical manufacturer reflect lower global demand in construction, industrial maintenance and power distribution markets.
David McIlwaine, president of HVAC Distributors Inc., Mount Joy, PA, and Chrissy Nardini, president of American Metals Supply Co. Inc., Fenton, MO, recently spoke with MDM as part of an MDM interview series featuring association presidents. Nardini will replace McIlwaine as president of Heating, Airconditioning, & Refrigeration Distributors International at the association’s annual conference, “Turning Up the Heat on Recovery,” Nov. 1-4 in Orlando, FL.
MDM: This has been an interesting year. What are some of the issues that HARDI members have been dealing with over the last year?
David McIlwaine: Other than the general economic malaise, many of our members are tied to residential new construction markets. And in many areas, those markets collapsed 50 percent or 60 percent or more. That definitely provided challenges to our members.
In general as an industry, we’re going through the phase-out of the R22 refrigerant …
The building materials and plumbing supplies distributor reduced headcount by 9,848 globally during the year.
WinWholesale shares ownership of Wilmington Winnelson Company with local shareholders.
Responsibilties for top executive post at the U.S. HVAC/plumbing distributor will be taken over by the CEO of Wolseley North America.
UK-based Wolseley plc, distributor of plumbing and heating products to professional contractors and supplier of building materials, reported revenues from continuing operations were down 1.5% – down 16% on a constant currency basis – to £13.25 billion (US$21.86 billion). Trading profit from continuing operations was down 47%.
The company has completed its review of the Central and Eastern European markets, and has decided to focus on countries in that region where it has built sufficient scale, established leading market positions and can deliver an appropriate financial return. As a result, Wolseley decided to sell its Belgium, Slovakin and Czech Republic businesses. It will retain a presence in Switzerland, Austria, Luxembourg, Denmark, Holland and Italy.
Action also has …
Watsco, Inc., Coconut Grove, FL, an independent distributor of air conditioning, heating and refrigeration products, reported sales for the second quarter 2009 were $405 million, down 21% from second quarter 2008. Profit declined 37.5% to $16.3 million.
For the first six months, sales were $696 million, a 22% decline over 2008. Profit decreased 55.2% to $15.1 million.
Lower demand due to economic conditions, new housing declines and a late start to the cooling season offset gains from a richer mix of high-efficiency air conditioning systems.
"We are pleased to see the continued trend toward high-efficiency and environmentally-friendly air conditioning systems, especially in this current economic backdrop," said Albert H. Nahmad, president and CEO. "We experienced higher unit …
HVAC distributor Watsco Inc. and air conditioning product manufacturer Carrier Corp., a unit of United Technologies Corp., are moving forward with their plans to form a joint venture that will distribute Carrier, Bryant and Payne products throughout the U.S. Sunbelt, Latin America and the Caribbean.
The U.S. Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 related to the joint venture.
When it closes, the deal will nearly double Watsco’s sales. Watsco is a distributor of air conditioning, heating and refrigeration equipment, parts and supplies in the HVAC/R industry, operating 412 locations serving 40,000 customers in 34 states.
Watsco and Carrier’s …
