Thomas & Betts Corporation (NYSE:TNB)

Thomas & Betts Corporation designs & manufactures electrical components used in industrial, commercial, communications and utility markets. It is also produces commercial heating units and highly engineered steel structures used for utility transmission.

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Thomas & Betts Corporation was first established in 1898 as a sales agency for electrical wires and raceways, and was incorporated and began manufacturing products in New Jersey in 1917. It was reincorporated in Tennessee in 1996. Thomas & Betts Corporation is a designer and manufacturer of electrical components used in industrial, commercial, communications and utility markets. It is also a producer of commercial heating units and highly engineered steel structures used for utility transmission. It has operations in approximately 20 countries. Manufacturing, marketing and sales activities are concentrated mainly in North America and Europe. The Company pursues growth through market penetration, new product development, and acquisitions. Thomas & Betts sells its products through electrical, utility, telephone, cable, and heating, ventilation and air-conditioning distributors; through mass merchandisers, catalog merchandisers and home improvement centers; and directly to original equipment manufacturers, utilities and certain end-users. It classifies products into the following business segments based mainly on product lines. The segments are: Electrical, Steel Structures, and Heating, Ventilation and Air-Conditioning i.e. HVAC. The Electrical segment designs, manufactures and markets thousands of different connectors, components and other products for industrial, construction, utility and communications applications. Electrical segment's markets include industrial maintenance, repair and operations; and original equipment manufacturers, construction, utility and communications markets. The segment's sales are concentrated mainly in North America and Europe. Products in this segment includes: floor boxes; indoor and outdoor switch and outlet boxes, covers and accessories; fittings and accessories etc. Steel Structures segment designs, manufactures and markets highly engineered steel transmission structure. These products are mainly sold to the following types of end-users: investor-owned utilities; cooperatives, which purchase power from utilities and manage its distribution to end-users; and municipal utilities. HVAC segment designs, manufactures and markets heating and ventilation products for commercial and industrial buildings. Products in this segment include: gas, oil and electric unit heaters; gas-fired duct furnaces; indirect and direct gas-fired make-up air; infrared heaters; and evaporative cooling and heat recovery products. Thomas & Betts purchases a variety of raw materials for the manufacture of its products including steel, aluminum, zinc, copper, resins and rubber compounds. Sources for raw materials and component parts are well established and, with the exception of steel and certain resins, are sufficiently numerous to avoid serious future interruptions of production in the event that current suppliers are unable to provide raw materials and component parts sufficient to meet its needs. Each of the Company's business segments maintain research, development and engineering capabilities that intends to directly respond to specific market needs. The Company has over 1,500 active trademarks and domain names worldwide, including Bowers, Canstrut, Catamount, Color-Keyed, Commander, Hazlux, Homac, Iberville, Meyer, Ocal, Red Dot, Reznor, Russellstoll, Sachs, etc. The Company faces federal, state, local and foreign environmental laws and regulations that govern the discharge of pollutants into the air, soil and water, as well as the handling and disposal of solid and hazardous wastes.