Avnet Inc. Acquires Remaining 40 Percent of Bangalore-Based Avnet Max.Business Editors PHOENIX--(BUSINESS WIRE)--Aug. 28, 2002 Avnet Inc. (NYSE NYSE See: New York Stock Exchange :AVT AVT avian arginine vasotocin. See vasotocin. ) has acquired the remaining 40 percent of its Bangalore, India-based joint venture, Avnet Max, from Max India Limited. Annual sales for the 50-employee Avnet Max are approximately $40 million. Avnet Max is the No. 1 electronic components distributor in India, serving the telecom, automotive, computer, industrial electronics and consumer appliance markets. After the acquisition is completed, it will be renamed Avnet India Limited and will continue to operate within Avnet Electronics Marketing's Asian organization. S. Ramani, formerly general manager of Avnet Max, will continue as country manager of Avnet India. In addition to its core business of electronic components distribution, Avnet Max also provides customers with engineering assistance with turnkey design solutions in the appliance, automotive and industrial electronics areas. Its top 10 suppliers include Motorola, Texas Instruments See TI. (company) Texas Instruments - (TI) A US electronics company. A TI engineer, Jack Kilby invented the integrated circuit in 1958. Three TI employees left the company in 1982 to start Compaq. , Philips, ST Microelectronics, Infineon, ON Semiconductor, Agilent, AVX AVX Adult Video XXX AVX Avid Visual Extensions AVX anti Virus Expert , National Semiconductors and AMD (Advanced Micro Devices, Inc., Sunnyvale, CA, www.amd.com) A major manufacturer of semiconductor devices including x86-compatible CPUs, embedded processors, flash memories, programmable logic devices and networking chips. . Avnet Holding Corp. II, a subsidiary of Avnet Inc., and Max India Limited had been 60/40 joint venture partners in Avnet Max since October 1998. Phoenix-based Avnet Inc., a Fortune 500 company with annual sales of $8.9 billion (year ended June 28, 2002), is the world's largest B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business technology marketing and services provider. Through its three operating groups, the company distributes 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, embedded systems and computer products from leading manufacturers. Serving customers in 63 countries, Avnet delivers services such as inventory management, supply-chain services, bill-of-material analysis, systems integration and engineering design assistance. Its Web site is located at www.avnet.com. Avnet Electronics Marketing is Avnet's largest operating group, with operations in the Americas, Europe, the Middle East, South Africa and Asia. |
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