Avnet Electronics Marketing Strengthens Leadership Position in Design Chain and Supply Chain Services for Electronic Components Industry.PHOENIX -- Avnet Inc. acquisition of Memec Group Holdings Limited (Memec) is completed Avnet Inc. (NYSE NYSE See: New York Stock Exchange :AVT AVT avian arginine vasotocin. See vasotocin. ) has announced completion of the acquisition of Memec, a leading global distributor specializing in semiconductors. By completion of the acquisition, Avnet Electronics Marketing (EM), an operating group of Avnet Inc., strengthens its leadership position of delivering value-added distribution services to EOEMs, EMS providers and ODMs in 69 countries. This acquisition also further enhances Avnet EM's industry-leading semiconductor line-card, customer-base and talent pool around the world. "This acquisition is significant for so many reasons," stated Harley Feldberg, president, Avnet Electronics Marketing. "Although Avnet has always maintained a strong commitment to design chain and supply chain services, the acquisition of Memec allows us to provide a more balanced mix of these services to our customers regardless of location," Feldberg continued. "This accelerates our mission to be the most successful electronic components distributor in the world by delivering the best solutions to our customers and suppliers. As customers seek to consolidate vendors, reduce operating expense Operating Expense The essential things that a company must purchase in order to maintain business. Notes: For example, the payment of employees wages are an operating expense. Also known as OPEX. and accelerate time to market, Avnet Electronics Marketing is well positioned to support their needs." From a structural standpoint The Standpoint is a newspaper published in the British Virgin Islands. It was originally published under the name Pennysaver, largely as a shopping-coupon promotional newspaper, but since emerged as one of the most influential sources of journalism in the , Avnet Electronics Marketing shares common support and infrastructure regionally, although varies its structure by region, to support the nuances of each marketplace. Beyond its existing global footprint The amount of geographic space covered by an object. A computer footprint is the desk or floor surface it occupies. A satellite's footprint is the earth area covered by its downlink. See form factor. 1. , Avnet EM will now offer its customers Avnet Memec, a series of additional semiconductor-focused divisions, located in each of its four regions: Americas, EMEA (Europe, Middle East, Africa) Refers to that region of the world. For example, one might see products packaged differently for the UK, EMEA and Asia Pacific markets. , Asia and Japan. Although supplier franchises may vary across regions, all Avnet Memec divisions, worldwide, will continue to deliver the world-class engineering services that have led the industry. This focus will be complemented by Avnet's already strong global and regional commitment to design and supply chain services. Feldberg stated, "We have been very careful to create a global model that preserves, and ultimately enhances, the value of the Memec organization to the market." The Avnet EM regional leadership team will include: Phil Gallagher, Americas president; Axel Axel: see Absalon. Hartstang, EMEA president; and Stephen Wong, Asia president. With the expansion into Japan, David Ashworth David Ashworth (d. 1947) was a former football referee, famous for managing Liverpool F.C. and Oldham Athletic. He was born in Waterford in the Republic of Ireland in 1868. , former Memec 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. , will assume responsibility for that critical growth region. This will be in addition to Ashworth's new role of leading business development for Avnet EM's global semiconductor suppliers. "Avnet is fortunate to have this level of senior leadership guiding its presence around the world," added Feldberg. "Their industry experience and sensitivity to local market needs is unparalleled." Avnet Electronics Marketing is the largest operating group of Phoenix-based Avnet Inc., a Fortune 500 company with current revenues exceeding $13 billion, and one of the world's largest technology marketing, distribution and services companies. Avnet Electronics Marketing serves electronic original equipment manufacturers (EOEMs) and electronic manufacturing services (EMS) providers in 69 countries, distributing electronic components from leading manufacturers and providing associated design chain and supply chain services. The company's Web site is located at http://www.em.avnet.com. |
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