Avnet, Inc. Acquires Electronic Components Business of C.R.G. Electronics
Acquisition Strengthens Leadership Position in Israeli Market
Founded in 1989 by Mr.
"The acquisition of CRG will strengthen our position in the design
intensive Israeli high-tech market by adding complementary product lines
and a highly reputable technical team," said
The investment is expected to be immediately accretive to earnings and supports Avnet's return on capital goal of 12.5%.
This press release contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management's current expectations and are subject to uncertainty and changes in facts and circumstances. The forward-looking statements herein include statements addressing future financial and operating results of Avnet and may include words such as "will," "anticipate," "expect," believe," "intend," and "should," and other words and terms of similar meaning in connection with any discussions of future operating or financial performance or business prospects. Actual results may vary materially from the expectations contained in the forward-looking statements.
The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: the Company's ability to retain and grow market share and to generate additional cash flow, risks associated with any acquisition or disposition activities, the successful integration of acquired companies, any significant and unanticipated sales decline, changes in business conditions and the economy in general, changes in market demand and pricing pressures, any material changes in the allocation of product or product rebates by suppliers, other competitive and/or regulatory factors affecting the businesses of Avnet generally.
More detailed information about these and other factors is set forth in
Avnet's filings with the
Investor Relations Contact:
Vice President, Investor Relations
Avnet Electronics Marketing EMEA
Vice President Communications, Avnet EM EMEA
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