Avnet Technology Solutions, a distribution company based in the United States, will shut down its operations in the Middle East and Africa because it does not expect to make suitable returns.
Cancelling its technology distribution networks in Africa and the Middle East will not impact Avnet’s electronics marketing business, which is particularly active in South Africa.
A company statement said: “Having completed a thorough review of our business, we have determined that we are unlikely to make the necessary returns needed to meet our strategic goals in the short- or mid-term and we have taken the decision to close our TS EMEA operations in MEA.”
It added: “Our immediate priorities are to ensure that we provide the necessary support to our employees throughout this process and to fully assist our supplier and business partners as we manage our exit from this market.”
Avnet only began its operations in Africa and the Middle East two years ago, but the withdrawal follows a similar move out of Latin America.
