Pioneer Standard ups Eurodis Electron stake

Pioneer Standard ups Eurodis Electron stake
Richard Wilson Pioneer Standard will look to take a majority shareholding in its European partner Eurodis Electron as part of its strategy to become a global distributor. The Cleveland-based company, which is North America’s fourth biggest distributor, has announced it had increased its shareholding in Surrey-based Eurodis Electron from five to 13 per cent. It has also increased its share of Taiwan-based World Peace Industrial (WPI) in which it hopes to eventually take a majority shareholding. Jim Jeffries, v-p of worldwide marketing at Pioneer, which had revenues of $2.3bn in 1998 said: “The intention is to increase our share to majority ownership of those companies.” Eurodis Electron, which operates through HB Electronics and Bytech, joined Pioneer and WPI in an alliance a year ago.


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