November 4, 2022
5 Things to Know: Week Ending November 5
Where does Acuity Brands make its products? Plus, another distributor acquisition.
Here's a roundup of some of the week's happenings curated to help lighting people stay informed.
1. Where are Acuity Brands factories and properties?
Publicly traded Acuity Brands filed its annual 10K report last week which gives insights into many aspects of the company’s business. One such aspect is the company’s real estate deployment, which is reported to have one fewer property this year. Acuity Brands shared non-detailed information about one building being sold in fiscal year 2022 with a total carrying value of $6.6 million for a gain of approximately $2.3 million.
The rest of the Acuity Brands real estate footprint as of August 31, 2022 is below:
* Many of the distribution centers also have certain manufacturing and assembly capabilities. ABL = Acuity Brands Lighting. ISG = Intelligent Spaces Group.
The following table shows the percentage of finished goods manufactured and purchased in fiscal 2022 by significant geographic region.
2. Crescent Electric expands further into Southeast U.S.
Illinois based Crescent Electric has added to its large 130+ location footprint by entering the Georgia and South Carolina markets through the acquisition of Lowe Electric. Lowe serves customers out of 13 locations across Georgia and South Carolina. Terms of the deal were not disclosed.
3. American Lighting Association's top exec to step down
ALA President and CEO Eric Jacobson announced he will be stepping down from his role with ALA to join his family business. To support the transition, Eric will continue to serve as CEO through 2022 and into 2023 until a replacement is selected.
4. Lighting lawsuit settled
In February, we reported that conservation groups sued a luxury Maui resort alleging that its lights were killing seabirds. Recently, the Grand Wailea resort has settled the case by agreeing to take protective measures, including dimming and adjusting its lights.
5. Global semiconductor demand is easing
Last week we reported on one aspect of the global supply chain was easing, as California ports are no longer logjammed. This week, new data show that another important aspect of supply chain – semiconductor demand – is showing signs of easing, too.
Global semiconductor sales in the third quarter were 3.0% lower than Q3 2021 and 6.3% less than Q2 2022.
