Watsco, Inc. (Watsco) is an independent distributor of air conditioning, heating, and refrigeration equipment, and related parts and supplies (HVAC/R) in the United States. As of December 31, 2008, the Company operated from 417 locations in 34 states serving over 40,000 contractors and dealers who service the replacement and new construction markets. The HVAC/R distribution industry is highly fragmented with over 1,300 distribution companies. Watsco sells products to the refrigeration market. Such products include condensing units, compressors, evaporators, valves, refrigerant, walk-in coolers and ice machines for industrial and commercial applications. The Company distributes products manufactured by Copeland Compressor Corporation, a subsidiary of Emerson Electric Co., E. I. Du Pont De Nemours and Company, Mueller Industries, Inc. and The Manitowoc Company, Inc.