Premier Farnell
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| Type | Public (LSE: PFL) |
|---|---|
| Industry | Electronics |
| Founded | 1939 |
| Headquarters | London, UK |
| Key people | Val Gooding CBE, (Chairman) Harriet Green (CEO) |
| Revenue | £795.3 million (2010)[1] |
| Operating income | £72.7 million (2010)[1] |
| Net income | £37.5 million (2010)[1] |
| Employees | 4,144 (2010)[1] |
| Website | http://premierfarnell.com |
Premier Farnell plc (LSE: PFL) is a leading British distributor of electronic components supporting millions of engineers and purchasing professionals globally. Premier Farnell markets and distributes a comprehensive range of products and services throughout Europe, North America and Asia Pacific with operations in 24 countries and trading in over 100. Premier Farnell is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
The group are part of the FTSE4Good Index of Corporate and Social Responsibility and are also a Gold status member participating in the Business in The Community (BiTC) Corporate Responsibility Index - a group of over 800 UK companies who are committed to having a positive impact on the environment and society.[2]
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[edit] History
The company was founded by Alan Farnell and Arthur Woffenden in 1939 in Leeds under the name of A.C. Farnell Limited.[3] It was first listed on the London Stock Exchange in 1966.[3]
In 1995 it acquired Combined Precision Components. As it focused on distribution, its manufacturing operations were sold the same year.[3] In 1996 it went on to buy the Premier Industrial Corporation, a leading US distributor,[4] and in doing so changed its name to Premier Farnell.[3]
In 2001 Premier Farnell went on to acquire Buck & Hickman,[5] a company which it subsequently went on to sell in 2007.[6] Premier Farnell announced in 2006 the completed sale of Kent, its specialist automotive consumables business.[7]
In 2007 the group launched its Greater China business, Premier Electronics, with the opening of a new warehouse and distribution centre in WaiGaoQia.[8]
Towards the end of 2008 Premier Farnell began the closure of Cadillac Electric (part of the group's Industrial Products Division).[9] During the course of 2008 Premier Farnell also acquired Hynetic Electronics,[10] an Indian distributor, and in early 2009 Premier Farnell went on to acquire 'Microdis Electronics', an electronics distributor based in Poland.[11]
On 24 September 2009 they announced the acquisition of CadSoft Computer GmbH, developer of EAGLE electronic design automation software.[12][13]
[edit] Operations
The Premier Farnell group trades globally under the following company names:[14]
- Farnell in the UK and Europe
- element14 in Australia, New Zealand, Hong Kong, India, Malaysia, China and Singapore
- Newark Electronics in the US, Canada and Mexico
- MCM Electronics in the US
- Farnell-Newark in Brazil
- Combined Precision Components (CPC) in the UK
- Akron Brass, North America
- TPC Wire and Cable, North America
[edit] Awards
Premier Farnell has been awarded various awards in business [2]:
- The Times Top 50 Where Women Want to Work (2008) - Premier Farnell has been recognised as one of the top 50 places Where Women Want to Work in the UK.
- CorpComms Awards (2007) - Winners of the CorpComms Award for the Best use of new media as part of a communications strategy.
- IR Society Award (2008) for Best practice communication through annual report (printed and online) FTSE 250
[edit] References
- ^ a b c d Annual Report 2010
- ^ a b Premier Farnell: Awards
- ^ a b c d Premier Farnell: History
- ^ £1.9bn Premier buy to propel Farnell into Footsie
- ^ Premier Farnell Strengthens Group with Buck & Hickman Acquisition
- ^ Premier Farnell sells one of its businesses
- ^ Disposal of the Kent Division
- ^ Premier Farnell heads East with launch of new China business
- ^ Premier Farnell Annual Report & Acoounts 2009
- ^ Premier Farnell acquires assets of Hynetic Electronics
- ^ Premier Farnell signs agreement to acquire part of Microdis Electronics in line with its the growth strategy for Eastern Europe
- ^ Acquisition of CadSoft Computer GmbH
- ^ Premier Farnell acquires CadSoft
- ^ Premier Farnell: Profile
