Brightpoint, Inc. finalizes joint venture with Technology Resources International Ltd.INDIANAPOLIS--(BUSINESS WIRE)--Aug. 1, 1996--Brightpoint, Inc., (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CELL) announced today that it has completed the formation of its joint venture with Technology Resources International Ltd. ("TRI TRI Toxics Release Inventory (US EPA) TRI Touch Research Institute TRI Taux de Rentabilité Interne (French: internal rate of return) TRI Taux de Rentabilité Interne TRI Tile Roofing Institute "). The newly formed Brightpoint International Ltd. is owned 50 percent by Brightpoint, Inc., and 50 percent by TRI. The financial statements of Brightpoint International Ltd. will be consolidated with Brightpoint, Inc., for financial reporting purposes. The new venture, headquartered in Manchester, England, will be responsible for all of Brightpoint's sales and marketing efforts outside of North and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. . T. Scott Housefield, will serve as President of Brightpoint International Ltd. with responsibility for overall operations and strategic direction. John J. Ludwig, Director of Finance, will establish and supervise the financial systems and controls for the company. John Maclean-Arnott, Managing Director, will direct sales and marketing efforts in Europe, the Middle East and Africa Europe, the Middle East and Africa, usually abbreviated to EMEA, is a regional designation used for government, marketing and business purposes. It is particularly common amongst North American based companies, who often divide their international operations into the , and Dana Marlin, Managing Director, will lead the joint venture's efforts in the Asia Pacific region. Brightpoint International Ltd. operates distribution centers in Manchester, England, to serve customers in Europe and the Middle East, in Johannesburg, South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. , to service the African continent, and in Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. to serve customers throughout the Asia Pacific region. The joint venture expects to open additional distribution centers in key world markets in the near future. Brightpoint, Inc., is moving financial, sales and operating people into these distribution centers to develop and grow this new venture. Brightpoint International Ltd. employs approximately 40 people in its sales offices located in the United Kingdom, Hong Kong, and South Africa. "We look forward to the opportunities created by bringing the strengths of our two companies together," stated T. Scott Housefield, President of Brightpoint International Ltd. "The market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" of wireless communication terminals outside the Western Hemisphere Western Hemisphere Part of Earth comprising North and South America and the surrounding waters. Longitudes 20° W and 160° E are often considered its boundaries. is less than one percent. The opportunity to reach a portion of the remaining 99 percent of the world's population with modern, efficient communication tools is the potential upon which Brightpoint International will build its future. Our sales and service presence together with our strong relationships with customers, including international carriers, and with vendors will complement our strengths in distribution. Matching these capabilities with the capital base of our parent company, Brightpoint, Inc., should position us for success in the international markets." Brightpoint, Inc., distributes wireless communication equipment and related products globally and provides related services including inventory management, fulfillment ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. , packaging and programming. The Company's primary mission is to always be the most efficient channel of distribution for vendors and the low cost/high service provider to customers, thereby striving to be the best total cost provider in terms of price, time and reliability. CONTACT: Brightpoint, Inc., Indianapolis J. Mark Howell, 317/297-6100 |
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