http://www.newenergyworldnetwork.com/renewable-energy-news/by-technology/solar-by-technology-renewable-energy-news/avnet-subsidiary-acquires-china-based-solar-component-distributor-eurotone.html

A wholly-owned subsidiary of US-based electronics provider Avnet has acquired certain assets from wind and solar inverter distributor Eurotone Electric in a deal it expects will generate a return of at least 12.5 per cent.

Established in 1994, Eurotone is an engineering-focused electronic components distributor based in China that provides general purpose inverters for wind and solar power applications.
Avnet said it expects the acquisition of Eurotone, which generated revenues of around $28m in fiscal 2009, to be accretive to its earnings immediately.
‘This acquisition broadens our line card and adds market leading products that are critical components in solar and wind power applications,’ said Stephen Wong, president of Avnet Electronics Marketing Asia.
‘The combination of Avnet’s scale and scope and the talented employees of Eurotone will enable us to increase our penetration into this fast growing market, to grow the customer base for these products, and to make a meaningful contribution to the green initiative in China.’
Headquartered in Shenzhen with branch offices in Shanghai, Beijing, Xi’an, Chengdu, Wuhan and Hong Kong, Eurotone distributes products to green energy companies working in support of China’s alternative energy initiatives.
With approximately 50 employees, it is the primary distributor for Infineon Technologies’ modules in the country and also distributes products for CT-Concept.