The 2020 Mid-Year Economic Update_long

Rexel North America Sales Fall 1.7% YTD

Electrical distributor Rexel reported sales were up 3.5% in the first nine months of 2007 to 7.9 billion euro (US$11.5B). Profit before IPO costs was up 57%.
&nbsp ;
During the third quarter of 2007, Rexel saw continued growth in Europe and Asia-Pacific, led by the industrial and commercial end-markets while sals trends in North America were comparable to the second quarter. & hellip; Looking ahead, our proposed full-cash offer for Hagemeyer marks our confidence in the quality of Rexel's business model and would provide compelling development opportunities for our Group," says Jean-Charles Pauze, CEO.
&nbsp ;
Rexel is in negotiations to acquire Hagemeyer NV for $4.5 billion, based on current exchange rates. The offer is 4.85 euro per share. Rexel would then sell the ...

Electrical distributor Rexel reported sales were up 3.5% in the first nine months of 2007 to 7.9 billion euro (US$11.5B). Profit before IPO costs was up 57%.
&nbsp ;
During the third quarter of 2007, Rexel saw continued growth in Europe and Asia-Pacific, led by the industrial and commercial end-markets while sals trends in North America were comparable to the second quarter. & hellip; Looking ahead, our proposed full-cash offer for Hagemeyer marks our confidence in the quality of Rexel’s business model and would provide compelling development opportunities for our Group,” says Jean-Charles Pauze, CEO.
&nbsp ;
Rexel is in negotiations to acquire Hagemeyer NV for $4.5 billion, based on current exchange rates. The offer is 4.85 euro per share. Rexel would then sell the American, Asia-Pacific and some of the European assets to rival Sonepar.
&nbsp ;
Sales in the third quarter 2007 were up 1.4% overall, despite cable price deflation in Europe and North America, without which organic growth would have been 1% higher.
&nbsp ;
In Europe, sales were up 7.4% for the first nine months 2007, with double-digit growth in Austria.
&nbsp ;
In North America, sales were down 1.7% in the first nine months; in the U.S. sales fell 2.6% due to a decline in residential construction and residential-related commercial projects. Rexel saw double-digit growth at the Gexpro level (formerly GE Supply), notably on large project management.
&nbsp ;
Canada sales grew 2.3%, led by the mining and building markets in the West, as well as commercial activity in Quebec.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.