Canadian Electrical Wholesaler

Sept 11, 2020

Economy EventsThis article provides a concise summary of selected Canadian economic events, as well as international and financial market developments by calendar month. It is intended to provide contextual information only to support users of the economic data published by Statistics Canada. In identifying major events or developments, Statistics Canada is not suggesting that these have a material impact on the published economic data in a particular reference month.

All information presented here is obtained from publicly available news and information sources, and does not reflect any protected information provided to Statistics Canada by survey respondents.

COVID-19 timeline

• The Government of British Columbia announced on August 4 that it had formally extended the provincial state of emergency until August 18. On August 18, the Government further extended the state of emergency until September 1.

• The Government of the Northwest Territories announced on August 5 that it had extended the territory-wide Public Health Emergency until August 18. On August 18, the Government further extended the Public Health Emergency until September 1.

• The Government of Nunavut announced on August 6 that it had extended the territory's public health emergency until August 20. On August 21, the Government announced it had extended the public health emergency until September 3.

• The Government of Nova Scotia announced on August 8 that it was renewing the state of emergency until August 23. On August 21, the Government announced it was renewing the state of emergency until September 6.

• The Government of Manitoba announced on August 12 that it would extend the provincewide state of emergency for a period of 30 days.

• The Government of Ontario announced on August 20 that it was extending orders currently in force under the Reopening Ontario (A Flexible Response to COVID-19) Act, 2020 to September 22, 2020.

• The Government of New Brunswick announced on August 21 that the state of emergency mandatory order was renewed.

Selected COVID-19 responses

• The Government of Canada announced on August 20 that it will (i) be transitioning from the Canada Emergency Response Benefit (CERB) to an Employment Insurance (EI) program, effective September 27, 2020, to provide income support to those who remain unable to work and are eligible, and (ii) introducing a new suite of temporary and taxable recovery benefits to further support workers. The Government said that while it prepares for this transition, the CERB will be extended by an additional four weeks, providing a new maximum of up to 28 weeks of benefits.


• The Government of Canada announced on August 14 that it was extending reciprocal restrictions at the Canada-U.S. border until September 21, 2020.

• The Government of Canada announced on August 26 up to $2 billion in support for provinces and territories through the Safe Return to Class Fund. The Government said the fund is in addition to the more than $19 billion previously announced for the Safe Restart Agreement to help provinces and territories safely restart their economies.

Resources

• Calgary-based Suncor Energy Inc. announced that both upgraders at Base Plant remain online at minimum rates following a fire that occurred in the secondary extraction area on August 14. Suncor said it expects mined bitumen production to return to operation by early September.

• On August 24, the Government of Canada announced that it welcomes the World Trade Organization (WTO) panel ruling that U.S. countervailing duties against Canadian softwood lumber are inconsistent with the WTO obligations of the United States.

Manufacturing

• Mississauga-based Maple Leaf Foods Inc. announced on August 18 that it had temporarily suspended pork exports to China on a voluntary basis due to recent protocols adopted by the Chinese government for Canadian processors that require any plant reporting a COVID-19 positive case to suspend exports to China temporarily.

Transportation

• Toronto-based Porter Airlines announced it was updating its return-to-service date to October 7, from the previously announced target of August 31. Porter said it temporarily suspended operations as of March 21, due to COVID-19.


Other news


• The President of the United States announced the U.S. would re-impose the 10% ad valorem tariff on imports of non-alloyed unwrought aluminum articles from Canada. The President said the tariffs would take effect on August 16, 2020. The Government of Canada subsequently announced it intends to impose surtaxes against imports of aluminum and aluminum-containing products from the U.S., representing a proportionate amount of Canadian aluminum products affected by the U.S. tariffs. The Government of Canada said these countermeasures will take effect by September 16, 2020 and will remain in place until the U.S. eliminates its tariffs against Canada.

• On August 12, the Government of Ontario released its 2020-21 First Quarter Finances, which included additional investments in support of health care and jobs. The Government forecasts a $38.5 billion deficit in 2020-2021 and a contraction in real GDP of 6.6% in 2020.

• On August 27, the Government of Alberta released its 2020-21 First Quarter Fiscal Update and Economic Statement. The Government forecasts a $24.2 billion deficit in 2020-2021 and a contraction in real GDP of 8.8%.

• On August 27, the Government of Saskatchewan released its 2020-21 First Quarter Budget Update and Medium-Term Outlook. The Government forecasts a $2.1 billion deficit in 2020-2021 and a contraction in real GDP of 5.5%.

• Toronto-based Cineplex Inc. announced that all 164 Cineplex theatres and 1,687 screens across Canada would be open as of August 21.

• The Maritime Employers Association (MMA) announce that it and the Port of Montreal Longshoreman's Union had reached an agreement in principle on a seven-month truce ending the strike that began on August 10, 2020. The MMA said the port would be operational again from August 22.

• Unifor announced on August 22 that Unifor Local 597 members at Dominion grocery stores across Newfoundland began strike action.


• Smith Falls, Ontario-based Canopy Growth Corporation announced on August 28 that it would be opening 10 brick-and-mortar retail cannabis locations across Alberta over the next week.

United States and other international news

• U.S. President Donald J. Trump declared that a major disaster exists in the State of California and ordered Federal aid to supplement State, tribal, and local recovery efforts in the areas affected by wildfires beginning on August 14, 2020, and continuing.

• U.S. President Donald J. Trump declared that an emergency exists in the States of Louisiana, Mississippi, and Texas and ordered Federal assistance to supplement State, tribal, and local response efforts due to the emergency conditions resulting from Tropical Storms Marco and Laura beginning on August 22, 2020, and continuing.

• The Bank of England's Monetary Policy Committee (MPC) voted to maintain the Bank Rate at 0.1%. The MPC also voted to continue with the existing programmes of UK government bond and sterling non-financial investment-grade corporate bond purchases, financed by the issuance of central bank reserves, maintaining the target for the total stock of these purchases at £745 billion.

• The Reserve Bank of Australia (RBA) maintained the target for the cash rate and the yield on 3-year Australian Government bonds at 0.25%. The last change in the target for the cash rate was a 50 basis points reduction in March 2020.

• The Reserve Bank of New Zealand left the Official Cash Rate (OCR), its main policy rate, unchanged at 0.25% and expanded the Large Scale Asset Purchase (LSAP) programme up to NZD $100 billion. The last change in the OCR was a 75 basis points reduction in March 2020.

• The Executive Board of Norway's Norges Bank decided to keep the policy rate unchanged at 0.0%. The last change in the policy rate was a 25 basis points reduction in May 2020.

• Atlanta, Georgia-based The Coca-Cola Company announced structural changes that will result in the reallocation of some people and resources, which will include voluntary and involuntary reductions in employees. The company said the voluntary separation program will be first offered to approximately 4,000 employees in the United States, Canada and Puerto Rico.

• New Jersey-based Bed Bath & Beyond Inc. announced a workforce reduction of approximately 2,800 roles from across its corporate headquarters and retail banner stores, effective immediately.


Financial market news

• West Texas Intermediate crude oil closed at USD $42.61 per barrel on August 31, up from a closing value of USD $40.27 at the end of July. Western Canadian Select crude oil traded in the USD $29 to $34 per barrel range throughout August. The Canadian dollar closed at 76.68 cents U.S. on August 31, up from 74.60 cents U.S. at the end of July. The S&P/TSX composite index closed at 16,514.44 on August 31, up from 16,169.20 at the end of July.

Source: Statistics Canada, www.statcan.gc.ca/eng/dai/btd/cen/aug2020

Photo: Pixabay

David Gordon New 400Everyone is an expert in pricing. It’s either too high or too low based upon your role. Salespeople like it low. Management wants it high. The customer wants it “right” which, usually means “competitive” or “It’s reasonable for the value I am receiving.”

And the term “value” is intriguing as it infers that you understand
• the value that you bring
• the value that your product / service brings
• the competitive landscape (which also includes alternatives and inertia)

But I digress. 

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LDS Magiclite LS 400Magic Lite has announced the signing of Lightspec Canada Inc. as their Specification Sales Agent for the GTA.

As the Canadian Division of Lightspec, LLC, NY, this agency is headed by Steve Danzig as President and Neil Whiteford as Sales Manager. This talented sales team has over 150 years combined experience with Lighting Design, Applications, Lighting Controls, Distribution and Project Management. They are committed to bringing attentive service and expertise to their clients for their designs, projects, lighting requirements and acting as their trusted advisor and partner.

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Carol McGloganBy Carol McGlogan

EFC has just polled our members to determine the game changers that keep them up at night. Understandably, COVID-19 topped the list this year. However, talent remained the biggest issue outside of the pandemic. In September, members will have a chance to gather insights from EFC’s most recent research study: Talent for an Emerging Workforce. 

This is not intended as a spoiler alert, but “upskilling of current employees” is identified as one of the critical strategies that members need to employ...

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Manufacturing Sales - JuneManufacturing sales rose by a record 20.7% to $48.7 billion in June, following an 11.6% increase in May. Many factories operated at a much higher capacity in June, with the capacity utilization rate (not seasonally adjusted) for the total manufacturing sector increasing 10.9 percentage points to 73.3%.

Consistent with the increase in sales and capacity utilization in June, the May reference month release of the Canadian Survey on Business Conditions indicated that almost one-fourth (23.9%) of manufacturers expected to increase their number of employees over the next three months. Still, the capacity utilization rate remained 8.0 percentage points below the June 2019 level (81.3%). 

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WescoBy John Kerr

Last week Wesco held its first call detailing its results post merger with Anixter. This meeting followed Wesco’s agreement with Competition Bureau Canada to divest its legacy utility businesses (Trydor, Brews and Laprairie), along with its datacom business with annual revenues approaching CDN$200 million, according to the release of August 6.

Canadian Electrical Wholesaler estimates the merged group after divestitures will reach just under CDN$2 billion, making it the largest electrical distributor in Canada ahead of Sonepar and Rexel...

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Changing Scene

  • Prev
Late April 2020 ECM Industries acquired ILSCO. Since that time, they have been integrating the two ...
Since 1993, E.B. Horsman & Son(EBH) has been a proud supporter of BC Children’s Hospital ...
Southwire has aquired Construction Electrical Products (CEP) of Livermore, CA. Serving the ...
Salex has announced the expansion of its lighting agency to Southwestern Ontario.   ...
IDEA will be hosting a Webinar series that will feature a glimpse of the insight and valuable ...
On August 26th Sonepar Canada's divisions of Dixon, MGM, and Gescan Ontario launched their new web ...
Excellence in Manufacturing Consortium (EMC) recognizes the importance of maintaining high level ...
Stanpro have announced the retirement of Dennis O'Keefe, releasing the following statement ...
Mr. Steven Wright joins IMARK Electrical, Inc. as the Vice President of Supplier Relations and ...

CEW supplychain efc 400EFC’s 2nd Annual Supply Chain Summit will be held virtually. You won’t want to miss this event…where the electrical industry meets modern supply chain technologies and emerging trends.

Overview: Digital technologies have amplified the features and functionality of our electrical products and are fast-becoming mainstream in how we service our customers and partners. Learn how your organization can pivot its supply chain strategy towards a digitized and automated enterprise, optimizing supply chain management to reach new service levels, lower costs and improve overall operational effectiveness.

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EIN 55 AD NewCanadaWarehouse 400AD is announcing that its new Canada warehouse and meeting center, located in the greater Toronto area, is officially open for business. The new facility provides Canada-based AD members with redistribution of over 75 product lines of industrial, safety and janitorial items, including private-label brand Tuff Grade.

The original warehouse location came to AD as a part of its merger with IDI in 2019. Until now, it was available exclusively for use by members in the Industrial & Safety-Canada Division. The new facility, nearly double in size from the former location, broadens the scope of AD’s warehousing capabilities to all AD divisions in Canada, paving the way for growth and added services for members.

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Steven WrightMr. Steven Wright joins IMARK Electrical, Inc. as the Vice President of Supplier Relations and Development effective September 1, 2020.  Mr. Wright will report to Jerry Knight who is transitioning to President of IMARK Electrical as of November 1, 2020.

Mr. Wright comes to us with a varied background in wholesale distribution with Vallen / Sonepar, WESCO, Ace & True Value Hardware. 

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CEW Ricard Corinne 400The addition of a new member to Ricard Agency’s team is in line with the growth and development strategy the agency has envisioned for the province of Quebec and the Ottawa region.

As an outside sales representative, Corinne Galarneau will mainly cover the south shore of Montreal as well as the eastern side of the island. She will represent and support manufacturers in Ricard agency’s portfolio while developing strong, ongoing relationships with prospects and customers.

With over 12 years of experience in public relations and marketing, Galarneau excels in business development, more specifically in the sales of world-class products and services.

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Peers & Profiles

  • Prev
Tim King, Southwire Canada’s new President and first Canadian to assume the role, has taken the ...
Mission Technical Solutions is a recently established sales agency founded by industry veteran ...
  Sonepar is excited to introduce Anju Uddin as the new Marketing Manager for their Ontario ...
Electro-Federation Canada’s Young Professional Network (YPN) is a fantastic tool for industry ...
Sean Bernard is the Intelligent Controls Manager, Canada for Ideal Industries. Sean resides in ...
Jenny Ng is a Business Development Manager for the Power Solutions Division of Schneider Electric. ...

CEW 18 PP TimKing 400By Line Goyette

Tim King, Southwire Canada’s new President and first Canadian to assume the role, has taken the helm in the midst of the midst of the COVID-19 health crisis.

Previously, Tim served as Southwire Canada’s Director of Finance, HR and Administration. He has a background in economics and finance from Wilfred Laurier University. As a student, he was convinced that having a solid understanding of finance and economics would be an essential foundation to build his professional future. Over the course of his career, he purposefully acquired a broad range of skills, experience and knowledge to succeed in his new role. “I’ve had the opportunity to have worked for two large Fortune 500 corporations and I was very fortunate to have been exposed to many areas of the business. In fact, I have held 9 different roles in 15 years, in finance, operations, marketing and sales.”

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Trevor ElliottBy CEW Editorial Team

Mission Technical Solutions is a recently established sales agency founded by industry veteran Trevor Elliott. Panduit announced it would move to an agent representation model across North America earlier this year and named MTS as its Canadian representative, outside of the Atlantic provinces.

In this role, Elliott brings a long history in both supply and electrical distribution in Canada and he and his team are experienced in the Panduit electrical product line. Joining Elliott are Jean Pierre La France, Dennis Wight, Keith McRobbie, Kevin Wilkinson and Paul Stoynich. 

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