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January 2005 Volume 2, Issue 1 This issue home | Action home | Chamber home Avnet Establishes Operations In Heart Of Telecom Corridor® Area Electronic Components Distributor Cites Location As Key Factor In Move One of the world's largest distributors of electronic components and computer products is establishing an office in the Telecom Corridor® area. Headquartered in Phoenix, Avnet Inc. (NYSE:AVT) generated more than $10 billion in revenue in fiscal 2004 (year ended July 3, 2004) through sales in 68 countries and in 2004 was ranked No. 3 on the InformationWeek 500 and No. 223 on the Fortune 500 list. The company has more than 9,900 employees worldwide. By relocating a division, comprising financial operations, product management as well as local sales and marketing, to a 59,256-square-foot site in Richardson, the company will add more than 225 jobs to the local high-technology workforce. Avnet markets, distributes and adds value to a wide variety of electronic components, enterprise computing products and embedded systems from more than 250 components and system makers, says Robert Gracz, vice president of corporate real estate for Avnet. We distribute these products to 100,000 other manufacturers, enabling cost-effective services and technology solutions to organizations worldwide. The building location in Richardson is close to a lot of the networking companies, systems suppliers and end users, said Gracz, and it's in middle of a transportation nexus of highways and DART light rail, which has a lot of value for us in bringing skilled labor quickly to our operation there. Senior Avnet executives at the Richardson site will be Jim Strand, vice president, financial operations, and Anne Crowe, vice president and assistant general counsel. The company's two operating groups distribute electronic components such as semiconductors, interconnect, passive and electromechanical components as well as RF (radio frequency) and microwave devices (Avnet Electronics Marketing operating group), and embedded computing products plus enterprise computing products and systems (Avnet Technology Solutions operating group). We welcome Avnet, a globally-recognized corporation, as a new business and corporate community partner, said Richardson Mayor Gary Slagel. The North American leader and a global industry player in its own right in the distribution of semiconductor and other electronic components, Avnet can really take advantage of being right here where there is such a concentration of global telecommunications OEMs (Original Equipment Manufacturers), semiconductor operations, technology companies and emerging startups with ideas for entirely new products. The company's operation will be at the 'ground zero' of innovation in the Telecom Corridor® area, the location where the new Texas Instruments 300 mm semiconductor fab is being constructed, said Charles W. Eisemann, 2005 chair of the Richardson Chamber of Commerce. When that facility is complete, in about 14 month's time, Avnet will be able to link immediately and daily with TI, helping, through its extensive global network of customers and trading partners, to distribute TI's innovative new microchips as soon as they come off the line for applications in new electronic devices and systems. The search for a new Avnet site in the Metroplex led to the available space at 2021 Lakeside Boulevard in Richardson. T.D. Briggs of Peloton Real Estate Partners was the leasing agent for the deal; John Aldrich of The Aldrich Group was the broker representing Avnet. |
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