PITTSBURGH, June 26 /PRNewswire-FirstCall/ -- WESCO International, Inc. (NYSE: WCC) today announced that the resale shelf registration statement on Form S-1 which it had filed with the Securities and Exchange Commission was declared effective on June 23, 2006. The shelf registration statement registers for resale up to $150 million of WESCO's 2.625% Convertible Senior Debentures due 2025 and the shares of its common stock that may be issued upon conversion of the Debentures. As previously announced, the Debentures covered by the resale shelf registration statement were issued and sold in September 2005 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. WESCO filed the resale shelf registration statement in order to satisfy its obligations in accordance with a previously announced registration rights agreement.
Only the Debenture holders named in the resale shelf registration statement may use the related prospectus to resell their Debentures and any shares of common stock that may be issued upon conversion of the Debentures. WESCO will not receive any proceeds from any sales under the resale shelf registration statement. WESCO is not incurring any additional debt obligations as a result of this registration.
Copies of the prospectus may be obtained free of charge by contacting Daniel A. Brailer, WESCO's Director of Investor Relations, by telephone at (412) 454-4220 or by mail at WESCO International, Inc., ATTN: Daniel A. Brailer, Suite 700, 225 West Station Square Drive, Pittsburgh, Pennsylvania 15219.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities.
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 nation's largest provider of integrated supply services. 2005 annual sales were approximately $4.4 billion. The Company employs approximately 6,100 people, maintains relationships with over 24,000 suppliers, and serves more than 100,000 customers worldwide. Major markets include commercial and industrial firms, contractors, government agencies, educational institutions, telecommunications businesses and utilities. WESCO operates eight fully automated distribution centers and approximately 370 full-service branches in North America and selected 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 Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2005, as well as the Company's other reports filed with the Securities and Exchange Commission.
SOURCE WESCO International, Inc.
CONTACT: Stephen A. Van Oss, Senior Vice President and
Chief Financial and Administrative Officer of WESCO International, Inc.,
+1-412-454-2271, or fax, +1-412-454-2477