Abacus: 'German merger is difficult'

Abacus: ‘German merger is difficult’
Alex Mayhew-Smith Abacus Polar, the electronic components distribution group, has said it plans to eventually merge with German distributor Rutronik. However, the two firms, which declared an alliance in March last year, have to “live together before getting married” in the next few years, according to Abacus CEO Brian Murdoch. “Our future is together but the mechanics of merging a private German company and a public UK company is complicated,” he said. Abacus also reported flat results for the six months to March 31, 1999 but cautiously predicted the market was on the point of an upturn. “There are a lot of indications the market is tightening up, although people are reluctant to say it. Most semiconductor manufacturers are seeing supply and demand beginning to balance out,” said Murdoch. Pre-tax profit was ?3.7m, compared to ?4.2m last year and turnover fell slightly, from ?51.7m to ?51.3m.

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