Watsco to Transfer its Shares of Class B Common Stock to the New York Stock Exchange
Watsco to Transfer its Shares of Class B Common Stock to the New York Stock Exchange
MIAMI--(BUSINESS WIRE)-- Watsco, Inc. (NYSE MKT:WSOB) (NYS: WSO) (Paris:WSO) announced today that it will transfer the listing of its shares of Class B Common Stock to the New York Stock Exchange ("NYSE") from the NYSE MKT. The Company expects its shares of Class B Common Stock to begin trading on the NYSE on February 1, 2013, under its current ticker symbol "WSOB." The Company's Class B Common Stock will continue to trade on the NYSE MKT until the transfer is complete.
About Watsco, Inc.
Watsco improves indoor living and working environments with air conditioning and heating solutions that provide comfort regardless of the outdoor climate. Our solutions also promote healthier indoor spaces by removing pollutants from the indoor air that can lead to asthma, allergies and reductions in productivity. Furthermore, since heating and cooling accounts for approximately 56% of the energy consumed in a typical United States home, we offer consumers the greatest opportunity to save money on energy by replacing existing air conditioning and heating systems with more energy efficient and environmentally friendly solutions.
There are approximately 89 million central air conditioning and heating systems installed in the United States that have been in service for more than 10 years. Older systems often operate below today's government mandated energy efficiency and environmental standards. Watsco has an opportunity to accelerate the replacement of these systems at a scale greater than our competitors as the movement toward reducing energy consumption and its environmental impact continues. We operate from more than 570 locations in the United States, Canada, Mexico and Puerto Rico, with additional market coverage on an export basis to Latin America and the Caribbean. As the industry leader, significant growth potential remains given that our current revenue run-rate is less than 10% of the estimated $35 billion marketplace in the Americas for HVAC/R products. Additional information about Watsco may be found at http://www.watsco.com.
Watsco, Inc.
Barry S. Logan, 305-714-4102
Senior Vice President
blogan@watsco.com
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