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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: woody who wrote (63462)	9/30/1999 2:16:00 PM
From: kathyh	Read Replies (1) \| Respond to of 90042

arw news... Thursday September 30, 10:51 am Eastern Time Company Press Release Arrow Electronics to Acquire Leading Distributor in Argentina MELVILLE, N.Y.--(BUSINESS WIRE)--Sept. 30, 1999--Arrow Electronics, Inc. (NYSE: ARW - news) announced that it has acquired a seventy percent interest in the Elko Group, the largest distributor of electronic components in Argentina. The company, which will be known in the future as Elko/Arrow, is based in Buenos Aires and is the acknowledged leader in the Argentine electronic component distribution market. Employing over 50 people, Elko generated sales of approximately $14 million in 1998. The company's line card includes, among other semiconductor manufacturers, Philips, Motorola, National, Hewlett-Packard, and STMicroelectronics; its principal passive, electromechanical and connector (PEMCO) lines include Kemet, AMP, Siemens, and Bourns. ''Our acquisition of the Elko Group constitutes the second step in our strategy to align Arrow with the leading electronics distributors in the emerging markets of Latin America,'' said Stephen P. Kaufman, Chairman and Chief Executive Officer of Arrow. ''We are pleased to welcome into the Arrow family the leading distributor in Argentina,'' he added, ''and are delighted that Hector and Oscar Musarra and the rest of their experienced and successful team will be joining the Arrow family of companies.'' ''Not only are we excited to be affiliating ourselves with the world's preeminent distributor,'' said Mr. Musarra, ''but we are proud to be a participant in Arrow's global strategic initiatives.'' ''We will now be better equipped to service both our traditional customers as well as the large multinational companies investing in Argentina as a result of Arrow's broad array of products and wide range of value added services,'' he added. Arrow Electronics is the world's largest distributor of electronic components and computer products, with 1998 sales of $8.3 billion. Headquartered in Melville, New York, Arrow serves as a supply channel partner for more than 600 suppliers and 175,000 original equipment manufacturers and commercial customers through more than 200 sales facilities and 26 distribution centers in 35 countries. Detailed information about Arrow's operations can be found at www.arrow.com. -------------------------------------------------------------------------------- Contact: Robert E. Klatell Executive Vice President 516/391-1300 -------------------------------------------------------------------------------- More Quotes and News: Arrow Electronics Inc (NYSE:ARW - news) Related News Categories: computers, internet