By John Oates, 25 November 1999 15:58
NEWS US high-end distributor, Avnet, is buying Italian distributors PCD Italia and Matica, both based in Milan. No value was put on the deal but the companies' combined sales for 1998 were over $120m. Both companies will be branded as part of Hall-Mark Global Solutions. Andrew Cloney, VP and general manager of Hall-Mark UK, said: "We believe distribution in Europe will go through the same process as in the US - consolidation into three or four players. We aim to become one of those players through acquisition." He claimed that the complexity of technology today means that distributors need a turnover in excess of $1bn to achieve economies of scale.
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