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Electronics Production | October 03, 2007

Farnell announces intention to acquire in India

Premier Farnell plc has announced that it has signed a letter of intent with Hynetic Electronics Pvt Limited (Hynetic) to purchase the assets and business carried on in India on Farnell's behalf.
Hynetic, an established distribution business headquartered in Bangalore, has operated as an authorised distributor for Farnell for over 7 years and, in that role, has developed the Farnell brand, strong customer relationships and a reputation for excellent service over that time. With established sales offices in 8 major electronics hubs throughout India Hynetic employs over 30 people in its 'Farnell' distribution business.

“We are delighted to be able to build upon the exceptional work Hynetic and Farnell have already established with the electronic design engineering community in the Indian market," said Harriet Green, Chief Executive Office of Premier Farnell, plc (pictured). “This move further demonstrates Premier Farnell's continued commitment to focus on our profitable growth, through internationalising our business whilst meeting the needs of our customers at a regional level. Our customers in India will continue to enjoy the same high levels of support, the knowledge and expertise of our local team and access to the growing range of services and products from Farnell that they always have."

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