Nu
Horizons Expands Distribution Channel With New Office Opening in India
Expansion Reinforces Company's Focused Efforts on Asian Operations;
Increased Office Locations, Personnel and Additional Franchised Lines Result in
375% Cumulative Three-Year Regional Growth
Melville, NY and Singapore - 25 January 2005 - Nu Horizons Electronics Corp. (NASDAQ:NUHC), a leading distributor of high technology active components, continues to focus its efforts on expanding the organization's Asia Pacific operations with the addition of a new sales office in Mumbai, India. This facility, in addition to the organization's recent office openings in Hyderabad and New Delhi, was established to address regionalized service requirements and reinforce the organization's global expansion strategy.
"We
are very pleased with our overall growth progress in Asia Pacific, and specifically
within the country of India, where three additional locations were opened to fully
support our growing customer base," states Vick Aggarwala, president of Nu
Horizons Electronics Asia Pte Ltd. "We continue to enhance our system processes
and overall operations to ensure we provide a world-leading demand creation model.
Our plans include hiring key personnel in field applications engineering, training,
sales and senior management in all Asian markets throughout 2005. We look forward
to offering our customers, partners and suppliers value-added services, support
and design solutions that distinguish Nu Horizons from all our competitors."
Nu Horizons presently
has 11 established sales facilities in China (Hong Kong, Shanghai and Shenzhen),
India (Bangalore, Hyderabad, Mumbai and New Delhi), Malaysia, Singapore, South
Korea and Taiwan. This past year, the company opened a new state-of-the-art distribution
center, located in Singapore, to service growing customer demand and fulfillment
requirements. Ongoing expansion plans include establishing operations within the
countries of Australia, Japan, the Philippines and Thailand. Nu Horizons' Asia
initiative to date has resulted in a three-year cumulative revenue growth rate
of 375%, an increase of 490% in customer base and 21% attribution to the organization's
total global sales figures.
Nu
Horizons also continues to expand its relationship with all the company's North
American supplier distribution line card portfolio. Currently, many North American
suppliers have issued franchises to Nu Horizons in the Asia Pacific region. All
suppliers fully support the organization in regard to design transition business.
About
Nu Horizons Electronics Corp.
Nu Horizons is a leading global distributor
of high technology active components, including analog, clock and timing devices,
communications, computer products, discretes, flat panel display solutions, interface,
logic, memory, microcontrollers and microprocessors, opto electronics and power,
to a wide variety of commercial original equipment manufacturers (OEMs). With
sales facilities in thirty-seven locations across North America and Asia, and
logistics centers in centralized locations throughout the globe, Nu Horizons partners
with a limited number of best-in-class suppliers to provide in-depth product and
solutions expertise to its customers. Information on Nu Horizons and its services
is available at http://www.nuhorizons.com.
About Nu Horizons
Electronics Asia Pte Ltd.
Nu Horizons Electronics Asia Pte Ltd. is a wholly-owned
subsidiary of Nu Horizons Corp, a global distributor of high technology active
components. Headquartered in Singapore, Nu Horizons has sales facilities in 11
regional locations including: Hong Kong, Shanghai and Shenzhen (China); Bangalore,
Hyderabad, Mumbai and New Delhi (India); Penang (Malaysia); Singapore; Seoul (South
Korea); and Taipei (Taiwan). Additional Information on Nu Horizons Electronics
Asia Pte Ltd. and its services is available at http://ap.nuhorizons.com
Except for historical
information contained herein, the matters set forth in this news release are forward
looking statements that involve certain risks and uncertainties that could cause
actual results to differ from those in the forward-looking statements. Potential
risks and uncertainties include such factors as the level of business and consumer
spending for electronic products, the amount of sales of the Company's products,
the competitive environment within the electronic component industry, the ability
of the Company to continue to expand its operations, the level of costs incurred
in connection with the Company's expansion efforts and the financial strength
of the Company's customers and suppliers. Investors are also directed to consider
other risks and uncertainties discussed in documents filed by the Company with
the Securities and Exchange Commission.
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