Tech Data Announces Sale of Its Operations in Chile and Peru
March 18 2015 - 9:00AM
Tech Data Corporation (Nasdaq:TECD) today announced it has
completed the sale of its business operations in Chile and Peru to
Ingram Micro (NYSE:IM). The Company also plans to exit its
operations in Uruguay.
These steps will enable Tech Data to focus its investment and
development efforts on expanding its Latin America export business
in Miami and its operations in Mexico, a larger and more developed
IT market. The Company recently appointed industry veteran Eduardo
Coronado as managing director, Tech Data Mexico. In this role,
Coronado leads the strategic direction of the Company's sales and
operations efforts in Mexico.
"After careful consideration, we concluded that exiting these
operations was in the best interest of our business and our
shareholders," said Robert M. Dutkowsky, chief executive officer,
Tech Data Corporation. "Over the course of 16 years of operating in
Chile, Peru and Uruguay, it has been difficult to achieve the
necessary scale to consistently generate acceptable levels of
profit and return on invested capital. As we have said throughout
the last year, fiscal 2015 and 2016 are market and
operationally-focused years for Tech Data. These moves are
consistent with our approach of aligning the resources of the
Company with more profitable, higher-growth areas of our
business."
About Tech Data
Tech Data Corporation is one of the world's largest wholesale
distributors of technology products, services and solutions. Its
advanced logistics capabilities and value added services enable
115,000 resellers to efficiently and cost effectively support the
diverse technology needs of end users in more than 100 countries.
Tech Data generated $26.8 billion in net sales for the fiscal year
ended January 31, 2014. It is ranked No. 111 on the Fortune 500®
and one of Fortune's "World's Most Admired Companies." To
learn more, visit www.techdata.com, or follow us on Facebook and
Twitter.
CONTACT: Jeffery P. Howells
Executive Vice President and Chief Financial Officer
727-538-7825 (jeff.howells@techdata.com)
Arleen Quinones
Vice President, Investor Relations and
Corporate Communications
727-532-8866 (arleen.quinones@techdata.com)
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