Market Commentary and Intraday News
Wesco International buying Conney Safety Products
336 days ago
(AP:PITTSBURGH) Industrial supplies company Wesco International Inc. said Monday that it is buying safety products distributor Conney Safety Products LLC. Financial terms were not disclosed.
Pittsburgh-based Wesco said it expects the addition of Madison, Wis.-based Conney to strengthen its line-up of safety products and services and boost its e-commerce capabilities.
Conney's annual revenue totals about $85 million. Wesco said it expects the deal to boost its profit by at least 10 cents per share in the first year of operation.
The deal is expected to close in July, Wesco said.
Wesco shares finished at $53.33 per share on Friday. They have traded in a 52-week range of $31.08 to $68.19 per share.
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