Anixter acquires Peruvian distributor as part of expansion initiative into Latin America
Anixter International Inc. Glenview, Ill., has acquired all the outstanding shares of Jorvex, SA, a distributor of electrical wire and cable products to commercial, industrial and government entities throughout Peru that has distribution centers in Lima, Arequipa and Chiclayo, Peru. Jorvex, which has been a distributor for more than 40 years, sells electrical wire and cable products, PVC and HDPE pipe and conveyor belts along with various technical support services. Annual sales for Jorvex were approximately $115 million for 2011.
Commenting on the acquisition in a press release, Bob Eck, president and CEO of Anixter, said, "The acquisition of Jorvex represents an important step with our Emerging Markets growth initiative while also leveraging Anixter's existing geographical presence and logistics capabilities. As a market leader, Jorvex immediately positions Anixter as a stronger and more significant player in the Andean market. Combined with Anixter's existing wire and cable business, we will continue to lead the market and grow the business throughout the Latin American region.
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Jim Lucy Blog
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Jim Lucy has been wandering through the electrical market for more than 30 years, most of the time as an editor for Electrical Wholesaling, Electrical Marketing newsletter and CEE News. During that time he and the editorial team for the publications have won numerous national awards for their coverage of the electrical business. He showed an early interest in electricity, when as a youth he had an idea for a hot dog cooker. Unfortunately, the first crude prototype malfunctioned and the arc nearly blew him out of his parents' basement. Before becoming an editor for Electrical Wholesaling magazine and Electrical Marketing, he earned a BA degree in journalism and a MA in communications from Glassboro State College, Glassboro, NJ., which is formerly best known as the site of the 1967 summit meeting between President Lyndon Johnson and Russian Premier Aleksei Nikolayevich Kosygin, and now best known as the New Jersey state college that changed its name in 1992 to Rowan University because of a generous $100 million donation by N.J. zillionaire industrialist Henry Rowan. Jim is a Brooklyn-born Jersey Guy happily transplanted in the fertile plains of Kansas for the past 20 years.