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Roy Vallee, chairman and chief executive officer of Avnet, Inc. (NYSE:AVT), announced today at the Electronica Show the creation of AVNET-GALLIUM Co., Ltd. in Israel, a joint venture between Avnet and the founders/shareholders of GALLIUM ELECTRONICS (1986) Ltd.
AVNET-GALLIUM was formed by the acquisition of GALLIUM's business. Based in Tel Aviv, AVNET-GALLIUM is headed up by Managing Directors, Rami Segal, and Tzachi Kriezee.
GALLIUM, whose most recent annual sales were approximately US $9 million, is a leading distributor of specialty electronics components in Israel, consisting of fiber optic, telecom, and microwave products. The Company serves the telecom and wireless medical industries in Israel.
Roy Vallee stated, "Avnet Electronics Marketing Group is expanding its presence in the very creative electronics market of Israel as part of the Company's strategy to offer its global services to its customers and suppliers."
Headquartered in Phoenix, Arizona, USA, Avnet, Inc. is a Fortune 500 company with annual sales exceeding $5.9 billion (U.S. dollars). With sales in 57 countries, Avnet markets, inventories and adds value to the products of the most prestigious electronic components and computer equipment manufacturers for customers worldwide.
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