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January 16, 2008 |
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ARROW ELECTRONICS: Acquiring Indian Distribution Business Assets Arrow Electronics Inc. agreed to acquire all of the assets related to the franchise components distribution business of Hynetic Electronics and Shreyanics Electronics in India, effective Jan. 1, 2008. Privately owned, Hynetic Electronics and Shreyanics Electronics are leading electronic component distributors in India. "I am delighted to add the components distribution business of Hynetic to our expanding franchise in the Asia Pac region, further strengthening our leadership position in the fast- growing Indian marketplace. The Hynetic business is similar to Arrow's, with its demand-creation business model and strong engineering capabilities, and we anticipate meaningful synergies between our two businesses. Hynetic's complementary linecard and experienced sales professionals will allow us to expand our product portfolio and offer improved services and support to our business partners," said Michael J. Long, president of Arrow Global Components. "This acquisition will be beneficial to Arrow, with an expanded customer base focusing on the rapidly growing small- and medium- sized market and additional strategic product lines, which are critical for Arrow to further expand market share in India. At the same time, Hynetic's customers and suppliers gain instant access to Arrow's specialized expertise, technical resources, supply chain solutions and extensive logistics capabilities," said Peter Kong, president of Arrow Asia Pacific. About Arrow Electronics Headquartered in Melville, New York, Arrow Electronics Inc. -- http://www.arrow.com/ -- provides products, services and solutions to industrial and commercial users of electronic components and computer products. Arrow serves as a supply channel partner for nearly 600 suppliers and more than 130,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of over 270 locations in 53 countries and territories. The company operates in France, Spain, Portugal, Denmark, Estonia, Finland, Ireland, Latvia, Lithuania, Norway, Sweden, Italy, Germany, Austria, Switzerland, Belgium, the Netherlands, United Kingdom, Argentina, Brazil, Mexico, Australia, China, Hong Kong, Korea, Philippines and Singapore. * * * Arrow Electronics senior subordinated stock continues to carry Moody's Investors Service's Ba1 rating. The company's senior preferred stock is rated at Ba2. |
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