Hubbell Inc. donates $500,000 commitment to NAED foundation
Nov. 15, 2004 - Wire maker's donation will become part of endowment fund.
The National Association of Electrical Distributors has announced a $500,000 commitment by Hubbell Inc. in Orange, CT, to the NAED Education & Research Foundation.
"The pace of change is accelerating in the electrical distribution industry, requiring new approaches to add value to the customer," says Timothy Powers, chairman and CEO of Hubbell Inc. "As a partner with distribution, Hubbell is proud to support the NAED Education & Research Foundation. Its work in addressing the industry's challenges today and in the future, we believe, will be a primary contributor to enhancing our mutual success."
Hubbell Inc. manufactures a broad range of products in five business platforms: wiring systems, lighting, electrical products, power systems and industrial technology. The electrical distribution industry has been the company's primary route to market since its founding in 1888.
"Hubbell Inc. has been a strong supporter of NAED for many years," says Bill Elliott, chairman of the Foundation's Channel Advantage Partnership and president of Elliott Electric Supply in Nacogdoches, TX. "Not only have they provided financial support, they've contributed invaluable time and talent, including Tim Powers' service as co-chair of IDEA. We are pleased to acknowledge their leadership as the first manufacturer to make a significant financial investment to the foundation's endowment fund,"
The company's donation will become part of an endowment fund for the NAED Education & Research Foundation. The principal amount of the endowment will remain untouched, while the interest will be used to commission future projects and studies. As a $500,000 contributor, Hubbell Inc. will be recognized at the regent level and have a permanent position on the Channel Advantage Partnership Council, which will help select future educational programs and research projects.
NAED is based in St. Louis, MO. For more information visit www.naed.org.