Graybar, a distributor of electrical and communications products and related supply chain management and logistics services, ranks No. 1 on Fortune Magazine’s 2009 “World’s Most Admired Companies” list in the Wholesalers: Diversified industry category.

The occasion marks the eighth straight year Graybar has earned a position on the list and the third consecutive year it has been named as a leader for the category. The company, which has been employee-owned since 1929, also ranks high in other areas including management quality, long-term investment, financial soundness, quality of product and services, use of assets, people management and innovation.

“We are honored to receive the top ranking among the largest diversified wholesalers for the third consecutive year,” says Robert A. Reynolds Jr., chairman, president and CEO of Graybar. “This recognition is a tribute to our business model of employee ownership and how we continually strive to work to our customers’ advantage.”

Fortune surveyed 689 companies from 28 countries and turned to survey partner Hay Group to poll executives, directors and analysts on the 15 largest international companies and 10 largest U.S. companies in each of 64 industry categories. These industry experts then rated those companies in nine areas. To make the list, companies had to have scores ranking in the top half of their industry.

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