Legrand acquires Wiremold

This acquisition doubles the size of Legrand in the U.S.A.

Legrand is in the process of acquiring the U.S.-based Wiremold Company" for about $770M. Wiremold is an U.S. manufacturer of raceways and floor boxes used to channel power as well as voice, data and image (V.D.I.) cables throughout commercial and industrial buildings ("wire management"). The transaction is subject to the approval of the relevant administrative authorities — expectations are for approval shortly.

After this acquisition, Legrand will:

• double in size in the U.S., which now represents 25% of its total sales as compared to 13% before the transaction.
  
• have 2000 proforma sales with growth of more than 30% — exceeding 3 billion Euros.

Wiremold operates in high-growth segments and holds both a brand image and market share. Wiremold is projected to achieve sales of $ 460 million with an operating margin exceeding 12%. More than 80% of Wiremold's sales are in the U.S. and Canada.

Wiremold will be consolidated from August 1, 2000.

Legrand is active in 54 countries with 1999 sales amounting to 2.3 billion Euros of which 2/3 are derived from sales outside France. Legrand products are to specialist wholesalers and installed by professional electricians. They cater for the residential market as well as for offices and factories. Legrand shares are traded on the French stock exchange.

Edited by: Jerry R. Borland, P.E.

Wiremold Company, 60 Woodlawn Ave, W Hartford, CT 06107. Tel: 800-621-6049; Fax: 860-232-2062.