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Home » Anixter Enters Joint Venture in Saudi Arabia

Anixter Enters Joint Venture in Saudi Arabia

By    MDM  Staff 
October 6, 2011
More about:  Anixter International,  Asia,  Distribution & Manufacturing Acquisitions,  Electrical/Electronics Distribution
Anixter Saudi Arabia Limited a 'significant opportunity' for Anixter.
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Anixter International Inc., (NYSE: AXE), Glenview, IL, No. 5 on MDM's list of top electrical distributors, is forming a joint venture with Mohawarean Trading Company, a subsidiary of Mohawarean Internal Group, to expand its presence in Saudi Arabia. Anixter will have the majority holding in the new business entity, Anixter Saudi Arabia Limited.

"One of our key strategies is to expand the markets we serve, and we believe the Kingdom of Saudi Arabia presents a significant opportunity for Anixter and its business partners given the Kingdom's investments in infrastructure, strong economy, and strategic economic and geographic position in the Middle East markets that Anixter serves," said Bob Eck, president and CEO of Anixter.

This joint venture follows previously investments by Anixter in the United Arab Emirates, Oman, and Qatar.

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