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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 73 391 11,120
MORTGAGES 88 481 13,903
FORECLOSURE NOTICES 0 0 2,278
BUILDING PERMITS 198 969 24,034
BANKRUPTCIES 54 288 8,432
BUSINESS LICENSES 29 126 3,771
UTILITY CONNECTIONS 67 536 13,457
MARRIAGE LICENSES 17 103 3,031

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