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MarketScreener Homepage  >  Equities  >  Nyse  >  NVent Electric plc    NVT   IE00BDVJJQ56

NVENT ELECTRIC PLC

(NVT)
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nVent Electric : Announces Acquisition of WBT Business

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02/10/2020 | 08:16am EDT

  • Advances nVent’s Data Center and Networking Solutions (DNS) set
  • Expands cable management and pathway offerings for DNS, commercial and industrial applications
  • Extends our innovation in cost-efficient, labor-saving connections

nVent Electric plc (NYSE: NVT) (“nVent”), a global leader in electrical connection and protection solutions, today announced the acquisition of substantially all of the assets of WBT LLC, a U.S.-based manufacturer of cable tray, a business that will become part of nVent’s Electrical & Fastening Solutions (EFS) segment, marketed as part of the nVent CADDY product line.

An innovative and customer-focused business, Centralia, IL-based WBT manufactures high-quality cable tray, and has approximately 40 employees supporting manufacturing in Centralia and Chandler, AZ.

“WBT’s unique and labor-saving cable tray product line is the perfect complement to our nVent CADDY j-hooks and fasteners, allowing us to offer customers a one-stop solution for cable management and pathways for DNS as well as commercial and industrial applications,” said Robert van der Kolk, President of nVent’s EFS business.

Joe Ruzynski, President of nVent’s Enclosures business added, “Taking this one step further, we can offer customers even greater value by combining nVent CADDY fastening products and WBT cable tray with our nVent HOFFMAN liquid cooling enclosures – a truly differentiated, One nVent solution for DNS.”

ABOUT NVENT

nVent is a leading global provider of electrical connection and protection solutions. We believe our inventive electrical solutions enable safer systems and ensure a more secure world. We design, manufacture, market, install and service high performance products and solutions that connect and protect some of the world's most sensitive equipment, buildings and critical processes. We offer a comprehensive range of enclosures, electrical connections and fastening and thermal management solutions across industry-leading brands that are recognized globally for quality, reliability and innovation. Our principal office is in London and our management office is in Minneapolis. Our robust portfolio of leading electrical product brands dates back more than 100 years and includes nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER.

nVent, CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER are trademarks owned or licensed by nVent Services GmbH or its affiliates.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains statements that we believe to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact are forward looking statements. Without limitation, any statements preceded or followed by or that include the words “targets,” “plans,” “believes,” “expects,” “intends,” “will,” “likely,” “may,” “anticipates,” “estimates,” “projects,” “forecasts,” “should,” “would,” “positioned,” “strategy,” “future,” or words, phrases or terms of similar substance or the negative thereof, are forward-looking statements. All projections in this press release are also forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond our control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the ability to realize the anticipated benefits from our separation from Pentair (the “Separation”); adverse effects on our business operations or financial results; the ability of our business to operate independently following the Separation; overall global economic and business conditions impacting our business; the ability to achieve the benefits of our restructuring plans; the ability to successfully identify, finance, complete and integrate acquisitions, including the acquisition of Eldon; competition and pricing pressures in the markets we serve, including the impacts of tariffs; the strength of housing and related markets; volatility in currency exchange rates and commodity prices; inability to generate savings from excellence in operations initiatives consisting of lean enterprise, supply management and cash flow practices; increased risks associated with operating foreign businesses; the ability to deliver backlog and win future project work; failure of markets to accept new product introductions and enhancements; the impact of changes in laws and regulations, including those that limit U.S. tax benefits; the outcome of litigation and governmental proceedings; and the ability to achieve our long-term strategic operating goals. Additional information concerning these and other factors is contained in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K, as amended. All forward-looking statements speak only as of the date of this press release. nVent assumes no obligation, and disclaims any obligation, to update the information contained in this press release.


© Business Wire 2020
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Financials (USD)
Sales 2020 1 964 M - -
Net income 2020 - - -
Net Debt 2020 861 M - -
P/E ratio 2020 -
Yield 2020 4,36%
Capitalization 3 113 M 3 113 M -
EV / Sales 2019
EV / Sales 2020 2,02x
Nbr of Employees 9 500
Free-Float 99,5%
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Average target price 24,00 $
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Beth A. Wozniak Chief Executive Officer & Director
Randall J. Hogan Non-Executive Chairman
Sara E. Zawoyski Chief Financial Officer, Treasurer & Executive VP
Aravind Padmanabhan Chief Technology Officer & Executive VP
Jerry W. Burris Independent Director
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