Profit for the global electronics distributor fell to $86.2 million in the quarter.
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The Aerospace & Electronics and Fluid Handling segments saw declines.
Acquisition strengthens Avnets presence in China and Hong Kong.
Fourth-quarter sales were down slightly from the prior-year period.
Acquisition increases Arrow’s exposure to the Chinese market.
Acquisition enhances Avnets position in the defense and aerospace sector.
Vinnie Vellucci will retire after nearly 44 years with Arrow.
Weaker global conditions challenged Arrow in the third quarter.
In November, Roy Vallee, executive chairman of electronics distributor Avnet (NYSE: AVT), will retire after 35 years with the company. He served as COO and then president from 1992 until July 2011. Vallee saw Avnet grow from a $2 billion company to a $26 billion company. He recently spoke with Associate Editor Jenel Stelton-Holtmeier about how the industry has changed over the past 35 years, where he thinks it’s heading and provides advice for the next generation entering the industry. Part 1 of this interview appeared in the Oct. 10, 2012, issue of MDM.
MDM: In our podcast (available at mdm.com/7Minutes) you identified automation as the biggest industry change you’ve seen in your career. Could you talk more about the other changes you’ve seen?
Roy Vallee: How we operate is so much different today. We used to have inventory in every branch. It was difficult to find and transfer inventory between branches, and in order to fill a single customer order, we would often have to ship product from multiple branches to get the total quantity that we were looking for. Now with …
Electronics Marketing and Technology Solutions segments’ sales both declined.
Acquisition is part of a strategy to enhance IBM services and software capabilities at Avnet.
In November, Roy Vallee, executive chairman of electronics distributor Avnet (NYSE: AVT), will retire after 35 years with the company. He served as president and COO from 1992 until 1998, when he was promoted to CEO – a position he held until July 2011. During his tenure, Vallee saw Avnet grow from a $2 billion company to a $26 billion company. Vallee recently spoke with Associate Editor Jenel Stelton-Holtmeier about his career at Avnet and the role acquisitions played in the success of the distributor.
MDM: Avnet's growth is in large part attributed to its acquisition strategy. But integration can sometimes be a challenge – finding a balance between maintaining the culture and what attracted Avnet to the company while at the same time making the acquired company a part of Avnet. How did Avnet achieve success with this? And how can other companies make it a smoother process?
Roy Vallee: We did our first large-scale integration back in 1993. And we had to figure out then the best way to deal with it. But one of the first things we decided was that we'd document the process that we used so that with our next acquisition, we could …
In November, Roy Vallee, executive chairman of electronics distributor Avnet (NYSE: AVT), will retire after 35 years with the company. He served as president and COO from 1992 until 1998, when he was promoted to CEO – a position he held until July 2011. During his tenure, Vallee saw Avnet grow from a $2 billion company to a $26 billion company. Vallee recently spoke with Associate Editor Jenel Stelton-Holtmeier about his career at Avnet and the role acquisitions played in the success of the distributor.
MDM: Avnet's growth is in large part attributed to its acquisition strategy. But integration can sometimes be a challenge – finding a balance between maintaining the culture and what attracted Avnet to the company while at the same time making the acquired company a part of Avnet. How did Avnet achieve success with this? And how can other companies make it a smoother process?
Roy Vallee: We did our first large-scale integration back in 1993. And we had to figure out then the best way to deal with it. But one of the first things we decided was that we'd document the process that we used so that with our next acquisition, we could …
Global Link provides electronics asset disposition services in the Rocky Mountain region.
The acquisition of Redemtech expands Arrow’s asset disposition services capabilities.
Sales for both of Avnet’s segments declined during the quarter.
New services capabilities will expand Avnet’s HP portfolio.
C.R.G. Electronics distributors PC products and electronics components in Israel.
