3/22/2011 1:30:00 AM
NEWS BRIEFS
Anixter Opens Business in Morocco
Anixter International Inc. established a new business in Morocco called Anixter Morocco SARL.
Working with Global Development Ventures Corp., Anixter will operate initially from Casablanca and will serve the communications and physical security markets, supply industrial and infrastructure projects, and provide products to original equipment manufacturers.
“As we continually look to expand the markets we serve, we believe Morocco presents a great opportunity due to large investments in infrastructure, mining and manufacturing coupled with a strong economy and a business friendly environment,” stated Anixter CEO Bob Eck.
Anixter named Remy Deutschler to manage the operations in Morocco.
Anixter sales at its U.S. OEM supply business, including Anixter Fasteners, grew 1.6% to $130.8 million during the fourth quarter of 2010. OEM sales in Europe jumped 37.2% to $108.8 million.
Full-year U.S. OEM supply sales increased 2% to $532.9 million, while OEM sales in Europe gained 30% to $392.3 million.
Overall Anixter sales in 2010 rose 7.4% to $5.5 billion, while net income improved to $108.5 million compared with $29.3 million loss the previous year. ©2011 GlobalFastenerNews.com
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Related Links:
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