* Deal to add $1 to EPS in first full year of operation
* Wesco shares up 8 percent aftermarket
Oct 17 Electrical products distributor Wesco
International Inc said it will buy rival EECOL Electric
Corp for about C$1.14 billion ($1.16 billion) to expand its
presence in Canada and South America.
Wesco's shares jumped 9 percent to $62.24 after the bell.
They closed at $57.17 on Wednesday on the New York Stock
The acquisition, which is expected to close in the current
quarter, will add about $1.00 per share to Wesco's earnings in
the first full year of operation, the company said.
The deal comes about 4 months after Wesco bought another
Canadian rival Trydor Industries Ltd to grow its utility
business in the country. ()
EECOL Electric, which has 57 locations across Canada, is the
country's largest independent electrical equipment distributor
with annual revenue of about $900 million.
Wesco, which sells wiring devices, fuses and terminals,
currently gets about 15 percent of its revenue from Canada and 1
percent from Mexico.
Wesco, which has a market capitalization of about $2.5
billion, is scheduled to report third-quarter results on