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The post Earnest Machine, Gustave A. Larson Embrace Sales Team Restructure appeared first on Modern Distribution Management.

Forbes Magazine says Pittsburgh-based WESCO International Inc. is among the World’s Best Employers and one of America’s Best Employers for Women.

The awards were presented by Forbes and Statista Inc., a statistics portal and industry ranking provider.

The awards were selected based on independent surveys of 150,000 full-time and part-time workers from 58 countries around the world.

Respondents were asked to rate the companies on aspects such as image, economic footprint, talent development, gender equality and social responsibility. The 750 companies that received the highest total scores made the final list.

The Forbes America’s Best Employers for Women ranking is granted to only 300 companies in the U.S. That award is based on market research by Statista Inc., as well as an independent survey of 50,000 Americans, including 30,000 women, working for businesses with at least 1,000 employees.

The survey is based on anonymous feedback and examines opinions on factors such as working conditions, parental leave, diversity, discrimination and pay equity.

“At WESCO, our mission is to build, connect, power and protect the world, and we believe that people are our most important asset,” said John Engel, chairman, president and CEO of WESCO. “We are fully committed to building an inclusive company culture that leverages our diversity and that is essential to achieving our vision to be the best tech-enabled, supply-chain solutions provider in the world. We benefit from having people with different talents, experiences and mindsets that enable us to innovate with speed and agility, and deliver superior value.”

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Interfor Corporation — a British Columbia-based, growth-oriented forest products company with operations in Canada and the U.S. — has reached an agreement with an affiliate of Kelso & Company to acquire 100% of the equity interests of EACOM Timber Corporation.

EACOM is based in Quebec.

The purchase price was more than $383 million (C$490 million) on a cash and debt free basis, which includes more than $93 million (C$120 million) of net
working capital, Interfor said.

“This transaction makes Interfor a truly North American lumber producer, with operations in all the key fibre regions on the continent, further diversifying and de-risking our operating platform and enhancing our growth potential and opportunity set,” said Ian Fillinger, president and CEO. “This transformational growth secures a desirable SPF product mix to meet the growing demand of our customers, at a time when SPF fibre supply is under increasing pressure in other jurisdictions in North America and around the world. These are productive and well-managed mills, and we see meaningful opportunities to further enhance their performance by integrating them with our portfolio and applying our proven operating expertise. We are excited for the opportunities that the acquisition brings, and we look forward to welcoming the talented EACOM team into our company and partnering with them to operate and grow the business in the years ahead.”

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Moline, Illinois-based Deere & Company reported net income of $1.283 billion for the fiscal fourth quarter of 2021, compared with net income of $757 million for the quarter ending Nov. 1, 2020.

For fiscal year 2021, net income attributable to Deere & Company was $5.963 billion, or $18.99 per share, compared with $2.751 billion, or $8.69 per share, in fiscal 2020.

Worldwide net sales and revenues increased 16% to $11.327 billion for the fiscal 2021 4Q and rose 24% to $44.024 billion for the full year.

Equipment operations net sales were $10.276 billion for the quarter and $39.737 billion for the year, compared with $8.659 billion and $31.272 billion, respectively, in 2020.

“Deere’s strong fourth-quarter and full-year performance was delivered by our dedicated employees, dealers, and suppliers throughout the world, who have helped safely maintain our operations and serve customers,” said John C. May, chairman and CEO. “Our results reflect strong endmarket demand and our ability to continue serving customers while managing supply-chain issues and conducting contract negotiations with our largest union. Last week’s ratification of a 6-year agreement with the UAW brings our highly skilled employees back to work building the finest products in our industries. The agreement shows our ongoing commitment to delivering best-in-class wages and benefits.”

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