Avnet Inc. Acquires Brazilian Distributor.PHOENIX--(BUSINESS WIRE)-- Roy Vallee, chairman and chief executive officer of Avnet Inc. (NYSE NYSE See: New York Stock Exchange :AVT AVT avian arginine vasotocin. See vasotocin. ), Tuesday announced that Avnet has completed the acquisition of a 70-percent interest in Bridge International, one of Brazil's largest electronics component distributors with sales of approximately $7 million ($US) in its latest fiscal year. As the majority shareholder of Bridge International, Avnet will rename the business Avnet do Brasil. Headquartered in Sao Paulo, Brazil, the new entity will operate as a member of Avnet Electronics Marketing Americas (EMA (1) (Enterprise Management Architecture) An earlier strategic plan from Digital for integrating network, system and application management. It provided the operating environment for managing a multi-vendor network. ) under the direction of Regional Manager Jose Luis Vara. Vara will report to Beth Ely, Avnet EMA vice president/area director of Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . Avnet do Brasil will offer electronic components to customers in this region, as well as the value-added services of Avnet Integrated Material Services (IMS (1) See IP Multimedia Subsystem. (2) (Information Management System) An early IBM hierarchical DBMS for IBM mainframes. IMS was widely implemented throughout the 1970s under MVS and continues to be used under z/OS. ). Operations in Brazil will include a dedicated Avnet EMA sales team, administration and an electronic components warehouse. "Avnet do Brasil was created in response to our global strategy to offer services in every country where electronic components are needed," said Steve Church, president of Avnet EMA. "As many of our global customers are establishing new or expanding existing operations, they are asking Avnet to locate in Brazil to support their electronic component requirements. "Avnet do Brasil will allow these customers, as well as new customers in Brazil, to access Avnet inventories, plus our Integrated Material Services." 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. Church, many of these customers want local inventory which translates into products better tailored to their needs, faster inventory replenishment and more efficient just-in-time delivery. A strong technical focus was a key reason for Avnet's acquisition of Bridge International. Avnet and Bridge share a similar vision of the importance of demand creation and recognize the opportunities of introducing Avnet's strength in demand fulfillment through Avnet IMS offerings. "We are confident that Avnet do Brasil will capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. each firm's strengths and create a company with a tremendous value proposition for the Brazilian components market," Church added. "The Bridge International team and I are very enthusiastic and excited about joining the Avnet team and implementing a new distribution concept in the Brazilian market," said Vara. "We are sure that Avnet do Brasil will fulfill customers' needs for competitiveness and success. Avnet do Brasil's aim is to become the recognized leader in electronic components distribution in Brazil." About Bridge International Bridge International Comercio E Importacao Ltda. was founded in 1992 to service the telecommunications, computer, automotive, industrial and subcontractor markets in Brazil through its Sao Paulo office and its affiliate, Excalibur International, in Boca Raton Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla. At the time of acquisition, its lines included Analog Devices, Bourns, Power Innovations, Siemens, Temic and Texas Instruments. Bridge maintains local inventory for its customer base in Brazil and provides technical support before and after sales. It routinely conducts technical workshops and assists with customers' designs. About Avnet Electronics Marketing Avnet Electronics Marketing is an operating group of Avnet Inc. Avnet Inc. is a Fortune 500 company with annual sales exceeding $5.9 billion. Avnet Electronics Marketing markets, inventories and adds value to 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). products, RF/microwave products 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 systems for industrial and military equipment customers worldwide. For more information, visit the Avnet Electronics Marketing home page at www.em.avnet.com. |
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