WATSCO'A'!0.50 : Rick Fedrizzi, Chairman & Chief Executive Officer of the U.S. Green Building Council, Appointed to Watsco's Board of Directors
November 23, 2010 at 08:20 pm IST
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Regulatory News:
Watsco, Inc. (NYSE:WSO) (Paris:WSO) today announced the appointment of
S. Richard (Rick) Fedrizzi to the Company's Board of Directors.
Mr. Fedrizzi is the Chairman, Chief Executive Officer and Co-Founder of
the U.S. Green Building Council, the world leader in sustainable
building design and construction. The USGBC's LEED certified building
designations are the benchmark for energy efficiency and reduced
environmental impact. Rick has served the USGBC as President and Chief
Executive Officer since April 2004. Prior to founding the USGBC, Mr.
Fedrizzi had a distinguished 25 year career at United Technologies
Corporation, where he served as an in-house environmental consultant and
in various marketing positions.
Albert H. Nahmad, Watsco's President & Chief Executive Officer stated:
?Rick is a recognized leader in the global sustainability movement and
an early promoter of green building methods. His skills and experience
will strengthen our ongoing commitment of providing consumers with
energy efficient and environmentally responsible products.?
About Watsco, Inc.
Watsco improves indoor living and working environments with air
conditioning and heating solutions that provide comfort regardless of
the outdoor climate. Our solutions also promote healthier indoor spaces
by removing pollutants from the indoor air that can lead to asthma,
allergies and reductions in productivity. Furthermore, since heating and
cooling accounts for approximately 56% of the energy consumed in a
typical United States home, we offer consumers the greatest opportunity
to save money on energy by replacing existing air conditioning and
heating systems with more energy efficient and environmentally friendly
solutions.
There are approximately 74 million central air conditioning and heating
systems installed in the United States that have been in service for
more than 10 years. Older systems often operate below government
mandated energy efficiency and environmental standards. Watsco has an
opportunity to accelerate the replacement of these systems at a scale
greater than our competitors as the movement toward reducing energy
consumption and its environmental impact continues. As the industry
leader with over 500 locations in the United States and Puerto Rico,
with additional market coverage on an export basis to parts of Latin
America and the Caribbean, significant growth potential remains given
that our current revenue run-rate is less than 10% of the estimated $30
billion United States market for HVAC/R products. Additional information
about Watsco may be found at http://www.watsco.com.
Watsco, Inc. Barry S. Logan, Senior Vice President, 305-714-4102 blogan@watsco.com
Watsco, Inc. is engaged in the distribution of air conditioning, heating and refrigeration equipment and related parts and supplies (HVAC/R) with locations in the United States, Canada, Mexico, and Puerto Rico, and on an export basis to Latin America and the Caribbean. The Company sells products to the commercial refrigeration market, which include condensing units, compressors, evaporators, valves, refrigerants, walk-in coolers, and ice machines for industrial and commercial applications. It also sells a variety of non-equipment products including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats, and air quality products. It distributes products manufactured by Flexible Technologies, Inc. (Flexible Technologies), Resideo Technologies, Inc. (Resideo), Copeland Corporation, LLC, The Chemours Company (Chemours), Mueller Industries, Inc. (Mueller), and Welbilt, Inc. (Welbilt), among others. The Company operates in approximately 692 locations.
WATSCO, INC. 
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