ORANGE, Conn.--(BUSINESS WIRE)--Oct. 26, 2009--
Hubbell Incorporated (NYSE: HUBA, HUBB) announced today its intention to
offer, subject to market and other conditions, 2,600,000 shares of its
Class B common stock pursuant to an effective shelf registration
statement previously filed with the Securities and Exchange Commission
(the “SEC”). In connection with the offering, Hubbell expects to grant
the underwriters an over-allotment option for a period of 30 days to
purchase up to an additional 390,000 shares of Class B common stock.
Hubbell intends to use the net proceeds of the offering for general
corporate purposes, including the repayment of approximately $66 million
in short-term commercial paper borrowings which were used to fund the
acquisition of FCI Americas, Inc. (the business known as Burndy®).
Morgan Stanley & Co. Incorporated and J.P. Morgan Securities Inc. are
acting as joint book-running managers for the offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The offering is being made only by means of a prospectus
and the related prospectus supplement.
Interested persons may obtain copies of the prospectus and the related
preliminary prospectus supplement from Morgan Stanley & Co.
Incorporated, Attn: Prospectus Department, 180 Varick Street, 2nd Floor,
New York, New York 10014 (email address: email@example.com)
or by calling (866) 718-1649 or J.P. Morgan Securities Inc., Attn:
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New
York, 11717 or by calling (631) 254-1735.
Certain statements contained herein may constitute “forward-looking
statements” intended to qualify for the safe harbor from liability
established by the Private Securities Litigation Reform Act of 1995.
These forward-looking statements include statements about capital
resources, performance and results of operations and are based on our
reasonable current expectations. In addition, all statements regarding
anticipated growth or improvement in operating results, anticipated
market conditions and economic recovery are forward looking.
Forward-looking statements may be identified by the use of
forward-looking words, such as “intend” and similar words and phrases.
Factors, among others, that could cause our actual future actions to
differ materially from those described in forward-looking statements
include, but are not limited to market conditions and other factors
described in our SEC filings. Any such forward looking statements are
not guarantees of future performances and actual results, developments
and business decisions may differ from those contemplated by such
Hubbell Incorporated is an international manufacturer of quality
electrical and electronic products for a broad range of non-residential
and residential construction, industrial and utility applications.
Hubbell Incorporated operates manufacturing facilities in the United
States, Canada, Switzerland, Puerto Rico, Mexico, the People’s Republic
of China, Italy, the United Kingdom, Brazil and Australia. Hubbell also
participates in joint ventures in Taiwan and Hong Kong, and maintains
sales offices in Singapore, the People’s Republic of China, Mexico,
South Korea, and the Middle East. The corporate headquarters is located
in Orange, CT.
Source: Hubbell Incorporated
William R. Sperry, 203-799-4100