Graybar donates $100,000 to research foundation
April 16, 2004 - National Association of Electrical Distributors will use the money for endowment fund.
Graybar Electric Company Inc. has donated $100,000 to the National Association of Electrical Distributors Education & Research Foundation.
"There are two things that are critical to the success of our industry: one, training and development, and, two, fact-based research that will help us identify future opportunities for success," says Robert Reynolds, Jr., president of Graybar. "Our donation and commitment to the foundation will allow NAED to continue to provide this leadership. We are very fortunate we have the NAED organization in our industry, and this is the most vital piece of the organization."
Graybar Electric Company, Inc., based in St. Louis, MO, is a Fortune 500 corporation with more than 250 distribution facilities throughout the U.S., Canada, Mexico and Puerto Rico.
"Graybar is a powerful force, and we are glad to have their participation and support in this collective effort," says Bill Elliott, chairman of the NAED Education & Research Foundation. "They understand the value of joining together with other distributors to create resources and solve industry problems."
The company's donation will become part of an endowment fund for the foundation. The principal amount of the endowment will remain untouched, while the interest will be used to commission future projects and studies. As a $100,000 donor, Graybar will 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.