EMCOR Group Lists on the NYSE
EMCOR Group, a global electrical and mechanical contracting and facility services company, has 43 operating subsidiaries, and many of these company representatives attended a gala celebration before and after the first day of trading on Nov. 16. Jeff Levy, president and chief operating officer, looked around the gathering of associates in Wall Street’s executive boardroom and cited the reason for the success of the $3.5 billion company.
“What you see here is a group of people working together for a strong company,” he said. Levy accompanied McGinnis to the floor of the exchange the next day to ring the symbolic bell. McGinnis addressed the gathering during a dinner reception, revealing the company’s new motto, “knowledge in action.”
In a news release which ran concurrent with the first day of trading, McGinnis said, “In the last five years, EMCOR Group has evolved from a $1.6 billion specialty contractor to a $3 billion international provider of diversified facilities services. Our move to the world’s largest stock exchange, where we will join many of our blue- chip clients, is not only appropriate but it is expected to directly benefit our shareholders.”
EMCOR emerged from bankruptcy in 1994 to become one of the largest specialty construction firms in the world. By combining facility management with systems construction, such as hvacr, electrical, and security, the company plans to expand its global reach dramatically in the coming years.
Shares of EMCOR Group (symbol EME) began at $25 and finished slightly lower for the day. For more information on EMCOR Group, visit the company’s website at www.emcorgroup.com.
Publication date: 12/04/2000