Product category:
Transformers and Inductors
News Release from: Abacus Group
Edited by the Electronicstalk Editorial
Team on 12 October 2006
Abacus expands in Germany and Austria
Abacus Group has strengthened its position in Germany and Austria through the employment of 17 new sales and marketing executives and a new General Manager for its operations.
Abacus Group has strengthened its position in Germany and Austria through the employment of 17 new sales and marketing executives and a new General Manager for its operations The team, who have worked together in the German electronic distribution sector for many years, will join Abacus from 1st November 2006
This article was originally published on Electronicstalk on 3 Sep 2008 at 8.00am (UK)
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They will allow Abacus to significantly expand its operation in Germany through the opening of three new regional offices in addition to the existing Munich and Stuttgart offices.
The new General Manager, Jurgen Kirtzel will take over with immediate effect the day to day operations in Germany and Austria from Werner Hohmann, who is to become the President of Abacus Germany.
Abacus initially entered the German market through its acquisition of Deltron in January 2006.
The Board of Abacus Group estimates that the enlarged sales and marketing capability will make a financial contribution in the year commencing 1st October 2007 and will cost net GBP 0.7 million to establish in the current financial year.
The group has continued to make good progress with the integration of Deltron and Axess and results for the year just ended are expected to be in line with our expectations.
The announcement of the Abacus Group preliminary results for the 12 months ending 30th September 2006 will be on 30th November 2006.
Martin Kent, Abacus Group CEO, said: "Germany is the largest market for electronic component distribution in Europe with total sales in 2005 of Eur 3.1 billion (Europartners 2005 report)".
"This is a fabulous opportunity for Abacus to significantly expand its geographic coverage in this market with an experienced team for a modest net investment".
"This move is part of Abacus' strategy to increase its presence in Germany through organic development and acquisition".
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