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nVent Electric plc (NYSE: NVT) is a leading global provider of electrical connection and protection solutions, delivering innovative products and services across multiple industries. The company operates through three main segments: Enclosures, Thermal Management, and Electrical and Fastening Solutions. nVent's Enclosures segment, which contributes the largest portion of revenue, specializes in solutions that protect, connect, and manage heat in critical electronics and power equipment used in communication, control, and energy distribution.
Headquartered in London, with a significant management presence in Minneapolis, nVent serves a diversified range of industries including Commercial and Residential, Energy, Industrial Solutions, and Infrastructure. Its extensive product portfolio includes cabinets, electronic packaging, electrical fasteners, hangers and support systems, concrete reinforcing steel connections, and data center and networking systems.
The company's strategic approach focuses on leveraging big data to enhance business planning, agility, and profitability. By offering advanced analytics and predictive tools, nVent empowers its clients to navigate market changes, mitigate risks, and seize opportunities. The company's dedication to innovation ensures the ongoing development of highly responsive and personalized customer experiences.
In a recent notable development, nVent announced the acquisition of Trachte, LLC, a leader in engineered protection and control buildings, for $695 million. This move is expected to enhance nVent's capability to provide robust infrastructure solutions for electric utilities, data centers, and industrial customers.
nVent’s commitment to quality and reliability is evident through its globally recognized brands such as nVent CADDY, ERICO, HOFFMAN, ILSCO, RAYCHEM, and SCHROFF. These brands have built a legacy of excellence over more than a century, signifying the company's deep-rooted expertise and market leadership.
By continuing to innovate and expand its product offerings, nVent aims to solidify its position as a trusted advisor and partner in electrical solutions, dedicated to enabling safer systems and ensuring a more secure world.
nVent Electric plc (NYSE:NVT) announced its second quarter 2021 financial results, which are available on its Investor Relations website. The company will host a conference call at 8:00 a.m. ET for analysts and investors to discuss the results. nVent is a global leader in electrical connection and protection solutions, focusing on innovative products that enhance safety and security. With a diverse portfolio of brands like nVent CADDY and RAYCHEM, nVent has over 100 years of experience in offering high-quality solutions designed for various industries.
nVent Electric plc (NYSE:NVT) has released its second Social Responsibility Report, outlining new goals focused on people, products, and planet. By the end of 2025, it aims to increase women's representation in management by 20% and racially diverse U.S. professionals by 25%, alongside achieving a safety incident rate of ≤0.50. The company also targets a 25% reduction in Scope 1 and 2 greenhouse gas emissions by 2030. Notable 2020 achievements include a rise in employee satisfaction and a decrease in safety incidents. Full details can be accessed at nvent.com/socialresponsibility.
nVent Electric plc (NYSE:NVT) will report its second quarter 2021 financial results on August 3, 2021, with a conference call scheduled for 8:00 a.m. ET. The financial results will be accessible on nVent's investor relations website, and an alert will be issued via news wire when the earnings materials are available. Participants can join the call through a webcast or by dialing designated numbers. The replay will be accessible until November 3, 2021. nVent is a provider of electrical connection and protection solutions, offering products recognized for quality and innovation.
nVent Electric plc (NYSE: NVT) has acquired CIS Global LLC for approximately $200 million. CIS, based in Tucson, Arizona, specializes in power distribution units and server rack slides for the data center industry. With around 850 employees, CIS operates globally with production facilities in China, India, Thailand, and the United States. The acquisition positions nVent to meet the increasing demand for data center solutions, enhancing its product offerings in the networking industry.
nVent Electric plc (NYSE: NVT) has completed its acquisition of CIS Global for approximately $200 million, contingent on customary adjustments. CIS Global generated over $80 million in sales in 2020. nVent aims to leverage CIS Global's innovative solutions in intelligent rack power distribution and server slides to accelerate its growth strategy focused on electrification and heat management in data centers. The acquisition is expected to enhance nVent's product offerings and expand its global reach.
nVent Electric (NYSE: NVT) has announced a definitive agreement to acquire CIS Global LLC for approximately $200 million, expected to finalize in Q3. CIS Global specializes in mission-critical power solutions for data centers, aligning with the growing demand driven by 5G technology and AI. With operations in five countries and 850 employees, CIS Global will enhance nVent's capabilities in heat management and power solutions. The acquisition will operate under nVent's Enclosures segment, bolstering global growth opportunities.
nVent Electric plc (NYSE:NVT) has launched the new nVent RAYCHEM HTV self-regulating heating cable, designed for high-temperature industrial applications. This cable boasts a lifespan exceeding 30 years and maintains 95% of its power output after 10 years at 205°C/400°F, enhancing operational efficiency and reducing maintenance costs. Its innovative materials and cutting-edge R&D contribute to superior thermal stability and power retention. Certified for hazardous areas and backed by a 10-year warranty, the HTV cable aims to improve process integrity and safety across various industries globally.
nVent Electric plc (NYSE:NVT) announced its participation in two upcoming investor events. The first is the Wolfe Research Global Transportation & Industrials Conference on May 27, 2021, featuring Sara Zawoyski and Joe Ruzynski at 9:05 a.m. ET. The second event is the KeyBanc Capital Markets’ Virtual Industrials & Basic Materials Conference on June 3, 2021, with CEO Beth Wozniak and CFO Sara Zawoyski at 8:00 a.m. ET. Live webcasts for both events will be accessible on nVent's Investor Relations website.
nVent Electric plc (NYSE:NVT) has approved a three-year share repurchase program to buy back up to $300 million of its shares, commencing July 23, 2021. As of March 31, 2021, the company had approximately 168 million common shares outstanding. The buyback may be executed through various methods in compliance with SEC regulations, but it does not commit the company to any specific repurchase schedule. This initiative aims to enhance shareholder value, reflecting nVent's confidence in its financial stability and future growth prospects.
nVent Electric announced a quarterly cash dividend of $0.175 per ordinary share to be paid on August 6, 2021. Shareholders of record must hold shares by the close of business on July 23, 2021. As a leading provider of electrical connection solutions, nVent designs and manufactures innovative products that serve critical industries globally.
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