Avnet achieves $1 billion milestone; opens Taipei office.

Avnet Inc. (Phoenix, AZ, www.avnet.com), a distributor of electronic components and enterprise computing products, has reached the milestone of $1 billion in sales for fiscal year 2003, as the company sees demand grow for its services and support throughout Asia. Andy Bryant, a senior vice president of Avnet Inc., made the announcement at the opening of the company's new office in Taipei in early October.

Avnet Electronics Marketing, which specializes in marketing and adding value to electronic components such as semiconductors, electronic connectors and passive and electromechanical devices, recorded sales in Asia of $868 million for the fiscal year. Avnet Technology Solutions, the company's operating group specializing in computer products, solutions integration, embedded systems and microprocessors--and whose business units are newer to the Asia region--gained $154 million in sales.

As a result of the more than 40% year-on-year growth, Avnet has invested considerably in its regional resources in the last year to meet the growing demand in the region. With the opening of the new expanded office in Taiwan, Avnet now has more than 20 sales offices in the Greater China region.

Avnet Electronics Marketing has a distribution center in Taiwan, three in China and a fifth one in Hong Kong. The company also has four design centers in Asia, two in China, one in Singapore and one in India.