PHOENIX and OSLO, Norway – September 28, 2007 – Navico and Avnet Electronics Marketing, a division of Avnet, Inc. (NYSE: AVT), announce an exclusive long term global supply chain partnership, effective immediately.
Under terms of the deal, Avnet Electronics Marketing (EM) will serve as the components pipeline for Navico’s seven marine electronics brands – B&G, Eagle, Lowrance, MX Marine, Navman, Northstar and Simrad – providing a host of design and supply chain services that ensure Navico has a seamless end-to-end solution across the globe.
“Navico is pleased to enter into this partnership with Avnet. We look forward to capitalizing on Avnet’s wealth of experience to drive improvements in the efficiency of our supply chain, improve design cycles, reduce risk and ultimately improve the overall profitability of Navico,” said Jane M. Kaiser, executive vice president of global sourcing and logistics at Navico.
“Navico is a brand powerhouse, and we can’t wait to get started with working on this exclusive partnership,” said Steve Boysen, senior vice president/director of supply chain at Avnet Electronics Marketing. “We will leverage our position in the supply chain and design chain field to help Navico accelerate growth and realize cost efficiencies. We look forward to this long term partnership with Navico and the mutual success it will enable.”
CONTACT:
Avnet Electronics Marketing
Jody Janusch LaRoque, Public Relations, 480-643-2547
jody.janusch@avnet.com
Navico Public Relations
Renée Mead, Global PR and Information Manager, +47 4641 1705
renee.mead@navico.com
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About Navico
Navico is the parent company to seven well established marine electronics brands: B&G, Eagle, Lowrance, MX Marine, Navman, Northstar and Simrad. Navico has approx 2,800 employees globally and 2006 pro forma revenues of close to USD 320 million. Navico is headquartered in Oslo, Norway. The company has development and manufacturing facilities in Tulsa, Oklahoma, Acton, Massachusetts, Torrance, California USA; Ensenada, Mexico; Egersund, Norway; Romsey, UK; and Auckland, New Zealand.
About Avnet Electronics Marketing
Avnet Electronics Marketing is an operating group of Phoenix-based Avnet, Inc. (NYSE:AVT), a Fortune 500 company. Avnet Electronics Marketing serves electronic original equipment manufacturers (EOEMs) and electronic manufacturing services (EMS) providers in 70 countries, distributing electronic components from leading manufacturers and providing associated design-chain and supply-chain services. The group's Web site is located at http://www.em.avnet.com.
About Avnet
With more than 250 locations serving customers in 70 countries worldwide, Avnet markets, distributes and adds value to the products of the world’s leading electronic component suppliers, enterprise computer manufacturers and embedded subsystem providers. Additionally, Avnet brings a breadth and depth of service capabilities, such as supply-chain optimization, logistics solutions, product assembly, device programming, computer system integration and engineering design assistance. For the fiscal year ended June 30, 2007, Avnet generated revenue of $15.68 billion. Visit www.avnet.com/.