Avnet remains number one on Global Purchasing’s Top 50 for the third straight year. Ed Smith, Americas president for Avnet Electronics Marketing, points to the sluggish market conditions of the last few years, noting strength in automotive and aerospace industries and slowing conditions in military/defense markets in 2013.
“When I look at the industrials, I think they’re still pretty flat and not very exciting—and in the Americas, we’re driven by that,” Smith says. “So, [conditions] are not very exciting, but there [have been] some glimmers of hope in automotive and aerospace.”
Regionally, Avnet has seen growth in Mexico as customers begin to move manufacturing business from Asia back to the Americas, Smith adds. The re-shoring trend has been the topic of much industry buzz in the last year, and many say it’s unfolding more slowly than they’d hoped.
Rick Hamada, Chief Executive Officer, Avnet Inc. (pictured right)
Company Headquarters: Phoenix, Arizona
2012 Sales: $25.2 billion
Company website: http://www.avnet.com/