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VOL. 128 | NO. 92 | Friday, May 10, 2013

Thomas & Betts - ABB Donate $1 Million

By Bill Dries

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Thomas & Betts Corporation executives marked one year since the acquisition of the Memphis-based power and electric utility devices company by ABB Group of Zurich Thursday, May 9, with three contributions from both totaling $1 million to St. Children’s Research Hospital, Le Bonheur Children’s Hospital and the Memphis Development Foundation.

The contributions honor recently retired Thomas & Betts chairman and CEO Dominic J. Pileggi.

$500,000 went to St. Jude ALSAC, the fundraising arm of the research hospital. Another $400,000 was awarded to Le Bonheur and $100,000 was presented to the Memphis Development Foundation for use in the $14 million education and performing arts center the foundation is building as part of the Orpheum theater.

“We’ve sponsored the tournament. We’ve done that for years,” said Chuck Treadway, CEO of the Thomas & Betts business unit, referring to the FedEx St. Jude Golf Classic at Southwind Tournament Players Club where the checks were presented Thursday evening and Pileggi as well as long time Thomas & Betts general counsel Jim Raines were honored. “When we asked Dominic all the different charities he’s donated to since his time in Memphis, the list was quite long. We limited it to these three just to have a significant impact.”

Pileggi presented the checks and told a group of 100 at the club that the acquisition has gone well with both companies integrating their cultures and practices with Thomas & Betts adding 100 jobs in its Memphis area operations since the $3.9 billion deal was finalized one year ago this month.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 70 224 13,880
MORTGAGES 105 298 18,124
FORECLOSURE NOTICES 0 39 3,544
BUILDING PERMITS 0 430 32,733
BANKRUPTCIES 81 211 13,214
BUSINESS LICENSES 23 68 4,773
UTILITY CONNECTIONS 103 307 20,206
MARRIAGE LICENSES 39 72 4,269

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