Hubbell Incorporated was founded as a proprietorship in 1888, and was incorporated
in Connecticut in 1905. Hubbell is primarily engaged in the design, manufacture
and sale of quality electrical and electronic products for a broad range of
non-residential and residential construction, industrial and utility applications.
Products are either sourced complete, manufactured or assembled by subsidiaries
in the United States, Canada, Switzerland, Puerto Rico, Mexico, the People’s
Republic of China (“China”), Italy, the United Kingdom (“UK”),
Brazil, Australia and Ireland. Hubbell also participates in joint ventures in
Taiwan and Hong Kong, and maintains offices in Singapore, China, India, Mexico,
South Korea and countries in the Middle East.
The Company’s reporting segments consist of the Electrical segment (comprised
of electrical systems products and lighting products) and the Power segment.
The Electrical segment is comprised of businesses that sell stock and custom
products including standard and special application wiring device products,
rough-in electrical products, connector and grounding products, lighting fixtures
and controls, as well as other electrical equipment. The products are typically
used in and around industrial, commercial and institutional facilities by electrical
contractors, maintenance personnel, electricians and telecommunications companies.
In addition, certain businesses design and manufacture a variety of high voltage
test and measurement equipment, industrial controls and communication systems
used in the non-residential and industrial markets. Many of these products are
designed such that they can also be used in harsh and hazardous locations where
a potential for fire and explosion exists due to the presence of flammable gasses
and vapors. Harsh and hazardous products are primarily used in the oil and gas
(onshore and offshore) and mining industries. There are also a variety of lighting
fixtures, wiring devices and electrical products that have residential and utility
applications.
These products are primarily sold through electrical and industrial distributors,
home centers, retail and hardware outlets, lighting showrooms and residential
product oriented internet sites. Special application products are sold primarily
through wholesale distributors to contractors, industrial customers and original
equipment manufacturers (“OEMs”). High voltage products are sold
primarily by direct sales to customers through our sales engineers. Hubbell
maintains a sales and marketing organization to assist potential users with
the application of certain products to their specific requirements, and with
architects, engineers, industrial designers, OEMs and electrical contractors
for the design of electrical systems to meet the specific requirements of industrial,
non-residential and residential users. Hubbell is also represented by independent
manufacturers’ sales agents for many of its product offerings.
The Power segment consists of operations that design and manufacture various
distribution, transmission, substation and telecommunications products primarily
used by the electrical utility industry. In addition, certain of these products
are used in the civil construction and transportation industries. Products are
sold to distributors and directly to users such as electric utilities, telecommunication
companies, pipeline and mining operations, industrial firms, construction and
engineering firms. While Hubbell believes its sales in this area are not materially
dependent upon any customer or group of customers, a substantial decrease in
purchases by electrical utilities would affect this segment.