One of only 350 companies in NYSE history to achieve the 50-year
milestone
HONG KONG, Dec. 28, 2010 /PRNewswire-Asia/ -- Avnet, Inc.( http://avnet.com ) (NYSE: AVT),
a leading global technology distributor, commemorated its 50th
anniversary as a public company on the New York Stock Exchange
(NYSE) by ringing the Closing Bell( http://blogging.avnet.com/weblog/mandablog/2010/10/26/avnet-to-be-350th-company-to-be-on-nyse-for-50-years
) on Wednesday, December 15, 2010.﹛An archived video of the Closing
Bell is now available for viewing on Avnet's website( http://www.em.avnetasia.com ).
2010 is also a year that Avnet Electronics Marketing, an operating
group of Avnet, Inc., celebrates the 15th anniversary of its
business entering the Asia market.
(Photo: http://www.prnasia.com/sa/2010/12/24/20101224623107.html
)﹛
(Logo: http://www.prnasia.com/sa/2010/12/24/20101224857530-l.jpg
)
"We think our founders would be proud of the fact that we are now
one of only 350 companies that have been listed on the New York
Stock Exchange for 50 years," said Roy Vallee, Avnet Chairman and
CEO.
"This milestone distinguishes Avnet as a premier company -- one
with demonstrated adaptability, a strong culture and conservative
financial discipline. These positive attributes have allowed us to
grow steadily and profitably over time and become the global leader
in technology distribution.
"We sincerely thank each of our talented employees who make our
company so great, our innovative customers and technology suppliers
who have placed their trust in us to accelerate their success, our
shareholders who invest in us, as well as our business and
community partners who join with us to help make the world a better
place to live and work.
"We are proud of this milestone and our accomplishments thus far,
and look forward with excitement to building on our leadership
position to achieve far more in the next 50 years than anyone can
possibly imagine today," he concluded.
Award-winning film and Broadway producer Jon Avnet, grandson of
Avnet founder Charles Avnet, added: "Almost 50 years ago, a
prominent New York paper scoffed when my father Lester Avnet, said,
'We, Avnet Inc., are going to the top, to 100 million in sales,
maybe even a billion.' Roy Vallee and his talented executive team
have taken Avnet, Inc. to almost 20 billion dollars in sales, fifty
years later. Congratulations to all who have made this
possible."
At the time the company was initially listed on the NYSE, Avnet's
market capitalization was US$37 million and today Avnet's market
capitalization is approx. US$5 billion. "Avnet's ability to sustain
its performance and transform itself to meet the changing demands
of the market over the past 50 years is remarkable," said Larry
Leibowitz, Chief Operating Officer, NYSE Euronext. "The company's
staying power, adaptability and growth are accomplishments that
deserve great admiration, and we are grateful for our long-lasting
partnership."
Additional background information on Avnet's 50th Anniversary on
the NYSE can be found on the company's website under Highlights(
http://www.avnet.com/sta/home/0,6948,RID%253D46799%2526CID%253D62291%2526SCR%253DN%2526CCD%253DUSA%2526SID%253D9358%2526DID%253DDF3%2526LID%253D16679%2526BID%253DDF3%2526CTP%253DSTA,00.html
). The micro site includes video interviews with Vallee, photos of
the Closing Bell and interview transcripts.﹛A video of Avnet's
history can be found on http://www.avnetondemand.com . For more
interesting facts about Avnet and its history, visit Avnet's 50th
Anniversary on the New York Stock Exchange micro site.( http://www.avnet.com/sta/home/0,6948,RID%253D46799%2526CID%253D62291%2526SCR%253DN%2526CCD%253DUSA%2526SID%253D9358%2526DID%253DDF3%2526LID%253D16679%2526BID%253DDF3%2526CTP%253DSTA,00.html
)
While Avnet is celebrating 50 years since it was first listed on
the NYSE, Avnet Electronics Marketing is also celebrating the 15th
anniversary of its business in Asia market. The company entered the
Asia market in 1995 and is now one of the leading electronics
component distributors in the region. It has 2,500 employees in the
region and extensive coverage across more than 40 cities, providing
customers with a line card that includes more than 150
franchises.
Photos/Multimedia Gallery
Available:﹛http://www.em.avnetasia.com/News/ProductNewsShow.aspx?ID=729&type=0&pagesId=51&MasterPageId=20
About Avnet
Avnet, Inc. (NYSE:AVT), a Fortune 500 company, is one of the
largest distributors of electronic components, computer products
and embedded technology serving customers in more than 70 countries
worldwide. Avnet accelerates its partners' success by connecting
the world's leading technology suppliers with a broad base of more
than 100,000 customers by providing cost-effective, value-added
services and solutions.﹛For the fiscal year ended July 3, 2010,
Avnet generated revenue of US$19.16 billion. For more information,
visit http://www.avnet.com . (AVT_IR)
About Avnet Electronics Marketing Asia
Avnet Electronics Marketing, an operating group of Avnet, Inc.
(NYSE: AVT), has a significant presence in Asia. With its regional
headquarters in Singapore, the company has offices in more than 40
locations in Asia. Avnet Electronics Marketing Asia distributes
semiconductors, interconnect, passive and electromechanical
components to serve a wide range of customers including original
equipment manufacturers (OEMs), electronic manufacturing services
(EMS) providers, and small- to medium-sized businesses, and
provides associated design-chain and supply-chain services. More
information is available at http://www.em.avnetasia.com .
All company and product names may be trademarks of the respective
companies with which they are associated.
Media contacts:
Sonia Bovio
Brodeur Partners
Tel:﹛ +1-602-224-4048
Email: [email protected]
Michelle Gorel
Vice President, Public Relations
Avnet, Inc.
Tel:﹛ +1-480-643-7653
Email: [email protected]
Jaime Chan
Senior Marketing Communications Manager
Avnet Electronics Marketing
Tel:﹛ +852-2410-2735
Email: [email protected]
SOURCE Avnet, Inc.