Avnet is one of the world's largest industrial distributors of electronic parts, enterprise computing and storage products and embedded subsystems, creating a vital link in the technology supply chain.
In addition to its core distribution services, Avnet markets, adds value and creates demand for the products of the world's leading electronic component suppliers, enterprise computing manufacturers and embedded subsystem providers. Avnet brings a breadth and depth of service capabilities, such as supply-chain and design-chain services, logistics solutions, product assembly, device programming, and computer system configuration and integration.
Avnet is composed of two operating groups, a global logistics operation and a corporate services organization. Each group operates globally, with locations in the Americas, Europe, the Middle East and Africa (EMEA) and Asia. Avnet's Corporate Services Group provides back-office support.
The company has over 300 locations worldwide.
In fiscal 2010, Avnet reported record revenues of $19.1 billion and net income of $410.3 million.
In the early 1900s, Charles Avnet began selling surplus parts on the radio rows of U.S. port cities. The radio was the big thing, and ham radio enthusiasts, designers, inventors and ships docking in New York for their homemade ship-to-shore radios would visit the parts sellers to pick up what they needed. Buying from suppliers, selling to customers by 1921 Mr. Avnet was considered a pioneer in the fledgling electronic components distribution business.
When factory-made radios hit the popular consumer market in the mid-1920s, Mr. Avnet again adjusted his distribution pipeline and began selling parts in quantity to dealers and manufacturers. He branched out into automobile antenna assembly and car radio kits over the next decade, and as World War II came on his son, Lester Avnet, joined him in making antennas for the U.S. armed forces.
Charles Avnet's namesake business was flourishing. In 1955, the same year the company began assembling connectors in New York City, Avnet was incorporated. Robert Avnet, another of Charles Avnet's sons, was named chairman and CEO of the family business. Lester Avnet became president. The family-run company reached its first $1 million sales milestone a year later.
The company went public in 1959 on the American Stock Exchange.
Health Care -
Four medical plan options, two dental plans, vision plan and
flexible spending accounts.
Updated May 21, 2011