Rumsey Electric Opens Branch in Atlantic City
Rumsey Electric Co., Conshohocken, Pa., announced the opening of a new retail counter, sales office and regional distribution center in Atlantic City, N.J. The 40,000-square-foot facility features a retail counter, will-call area, wire-cutting services and training facilities. Atlantic City will serve as the center for further expansion in central and south New Jersey, the company said. Rumsey operates 12 branch locations and a centrally located 135,000-square-foot distribution and logistics hub.
NAED PAR Report Says Net Margins Increased in 2012
The National Association of Electrical Distributors (NAED), St. Louis, released its annual Performance Analysis Report (PAR) Highlights, and the report shows that electrical distributor profit margins increased to a median of 3.3% in 2012, up slightly when compared to the 2011 medians of 3%. Among the top performing “high profit” distributors, the 2012 profit margin was 6.3%, consistent with last year’s profit margin.
Hubbell Offering Financing for Lighting Retrofits
Hubbell Lighting, Greenville, S.C., has a new financing solution called “Cash Flow Positive” designed to provide flexible and easy access to funding for commercial and municipal customers through Hubbell Lighting and its agent network. “Major capital investments are hard to justify and will always stand as an impediment to greater energy efficiency,” said Scott Muse, president of Hubbell Lighting, in a press release. “Our Cash Flow Positive program addresses the economic barriers that our customers often face and helps them break through these challenges to immediately capture the benefits of our energy-efficient lighting and controls solutions.”
Commercial customers can receive competitive rate financing with terms from 12 to 60 months (up to 120 months for municipal customers) on projects ranging from $5,000 to $10 million.