Avnet Forms New Operating Group to Serve Applied Computing Market; Names Ed Kamins Group President.PHOENIX--(BUSINESS WIRE)--July 22, 1999-- Global electronic components and computer products/services distributor Avnet Inc. (NYSE NYSE See: New York Stock Exchange :AVT AVT avian arginine vasotocin. See vasotocin. ) Thursday announced the creation of a third operating group. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Chairman 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. Roy Vallee, the new Applied Computing Group (ACG ACG American College of Gastroenterology; angiocardiography; apexcardiogram. AcG accelerator globulin (coagulation factor V). AcG accelerator globulin (clotting factor V). ) focuses the resources of three existing business units, the Computer Marketing Group's 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 Business Unit and Electronics Marketing's Personal Computer Components and OEM Systems units, with combined revenues of over $1 billion. ACG will provide technical solutions that include software, engineering services, leadership products, supply chain management, financing, and physical distribution and integration of the end products. Vallee also announced that Ed Kamins, a 21-year veteran of the computer industry, has been named the group's president. Kamins, who was most recently the senior vice president of Corporate Development for Avnet's Computer Marketing Group, joined the company in 1996 after a 16-year career with Digital Equipment Corporation, most recently as vice president, Channels. Kamins will appoint his direct staff in the coming weeks. He reports directly to Vallee. "Industrial and commercial OEMs are being impacted by significant emerging trends in the business climate and in technology," Vallee said. "Technology is migrating to higher levels, allowing for system level integration. "Concurrently, some customers are moving away from hardware circuit design, favoring software design and intellectual property differentiation, which leverages this system and subsystem level integration capability." "More and more, customers are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. platforms that provide standard, system and subsystem level technology, into which they can incorporate their own intellectual property, creating time- and cost-effective products," Kamins said. "We believe the OEM market is limitless, and we believe that we have a combination of capabilities and core competencies that will enable the new organization, ACG, to become a major player -- a unique business to serve a unique and growing market," Kamins said. "Customers and suppliers will benefit from ACG's dedicated focus and value proposition," he added. The ACG offering will include mass storage, systems, modules, motherboards, flat panel displays A thin display screen for computer and TV usage. The first flat panels appeared on laptop computers in the mid-1980s, and the LCD technology became the standard. Stand-alone LCD screens became available for desktop computers in the mid-1990s and exceeded sales of CRTs for the first time , real-time operating systems, software, networking/communications, modems, monitors, printers, video controllers, chassis and microprocessors. ACG is Avnet's third operating group, joining the Computer Marketing Group and Electronics Marketing in comprising the company's value-added philosophy of computer products and services, and electronic components distribution. In addition to the focus this new group will apply to the rapidly growing applied computing market, its creation allows even more focus on the core businesses of Avnet's two other operational groups. Phoenix-based Avnet Inc., a Fortune 500 company with annual sales exceeding $6.3 billion, is one of the world's largest distributors of semiconductors, interconnect, passive and electromechanical The use of electricity to run moving parts. Disk drives, printers and motors are examples. Electromechanical systems must be designed for the eventual deterioration of moving components that wear over time. The first TVs were electromechanical systems (see video/TV history). components and computer products from the industry's leading manufacturers. Serving customers in 59 countries, Avnet markets, inventories and adds value to these products and provides world-class supply-chain integration services. The company's Web site is located at www.avnet.com. |
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