Anixter Expands Service in Detroit Market.Business Editors/High Tech Writers SKOKIE, Ill.--(BUSINESS WIRE)--Jan. 22, 2001 Anixter Inc., the world's leading distributor of data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. products and electrical wire and cable, has agreed to purchase certain inventory and operating assets Operating Assets Another term for working capital. from the bankruptcy estate of Anicom, Inc. The assets being acquired are located in the Detroit market. Anixter's expansion now provides former Anicom customers with a single source for products and distribution services needed to grow their businesses. "This is a serious commitment to the entire Detroit marketplace," stated Bob Grubbs, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Anixter. "It's a commitment in terms of people, inventory, engineering and short and long term growth. We look forward to the opportunity to serve those companies who were customers of Anicom. We intend to work aggressively to help them grow by providing them with the highest level of service and quality products in the industry." "Our newly expanded presence in Detroit will allow us to more effectively serve our existing contractor and IT customer base. It also puts us in a position to increase our support to the highly specialized markets and industries unique to the metro complex," Grubbs remarked. "These would include the automotive, broadcast, telecommunications and OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and markets to name a few." Grubbs pointed out that the acquisition is a perfect fit for Anixter: "Our extensive, specialized inventory, coupled with our global distribution network and logistical lo·gis·tic also lo·gis·ti·cal adj. 1. Of or relating to symbolic logic. 2. Of or relating to logistics. [Medieval Latin logisticus, of calculation management services, provide a solid foundation for our expansion into the Detroit metro market and bring new opportunities for our customers." Founded in 1957, Anixter (NYSE NYSE See: New York Stock Exchange :AXE (An X Editor) A text editor used with the X Window system. By adding widgets, aXe can be customized by the user. (tool) aXe - A text editor for the X Window System. No longer maintained. ) now employs more than 5,000 people in 180 cities throughout the world. Anixter customers benefit from the company's technical expertise and market specialization and have access to best-in-class products through the company's partnerships with the world's leading manufacturers. |
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