Arrow Electronics, Inc. announced today the successful completion of the acquisition of TechTurn, Ltd. (“TechTurn”), a leading provider of electronics asset disposition (EAD) services that specializes in the processing and sale of technology devices that are returned or recycled from businesses and consumers.

TechTurn is headquartered in Austin, Texas, and has 135 employees. The company’s sales are expected to exceed $50 million in 2012.

Arrow Electronics (www.arrow.com) is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. Arrow serves as a supply channel partner for more than 120,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 390 locations in 52 countries.

Safe Harbor

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. This press release includes forward-looking statements, including statements addressing future financial results. These statements are subject to a number of risks and uncertainties that could cause actual results or facts to differ materially from such statements for a variety of reasons including, but not limited to: industry conditions, the company’s implementation of its new global financial system and the company’s planned implementation of its new enterprise resource planning system, changes in product supply, pricing and customer demand, competition, other vagaries in the global components and global ECS markets, changes in relationships with key suppliers, increased profit margin pressure, the effects of additional actions taken to become more efficient or lower costs, the company’s ability to generate additional cash flow and the other risks described from time to time in the company’s reports to the Securities and Exchange Commission (including the company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q). Forward-looking statements are those statements, which are not statements of historical fact. These forward-looking statements can be identified by forward-looking words such as “expects,” “anticipates,” “intends,” “plans,” “may,” “will,” “believes,” “seeks,” “estimates,” and similar expressions. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company undertakes no obligation to update publicly or revise any of the forward-looking statements.

Contacts

Arrow Electronics, Inc.
Greer Aviv
Senior Manager, Investor Relations
303-824-3765
or
Paul J. Reilly
Executive Vice President, Finance and Operations & Chief Financial Officer
631-847-1872
or
Media Contact:
John Hourigan
Director, Corporate Communications
303-824-4586

Strategic Expansion of Electronics Asset Disposition Portfolio

ENGLEWOOD, Colo., Jan 18, 2012 (BUSINESS WIRE) — Arrow Electronics, Inc. announced today that it has agreed to acquire TechTurn, Ltd. (“TechTurn”), a leading provider of electronics asset disposition (EAD) services that specializes in the processing and sale of technology devices that are returned or recycled from businesses and consumers.

TechTurn offers a comprehensive portfolio of services, including asset retirement, data wipe, asset test and diagnostics, data sanitation, and refurbishment and remarketing. With offices in Texas and Virginia, as well as partner facilities in Europe and Canada, TechTurn provides EAD services to Fortune 500 customers, original equipment manufacturers, and large retailers.

“We are very excited to have the TechTurn team join the Arrow family. This acquisition will strengthen our existing portfolio of services and is a continuation of our global strategy to expand into faster growing services that span the full lifecycle of technology and complement our core businesses,” said Paul J. Reilly, executive vice president, finance and operations and chief financial officer of Arrow Electronics.

TechTurn is headquartered in Austin, Texas, and has 135 employees. The company’s sales are expected to exceed $50 million in 2012. This acquisition is subject to the customary regulatory approval process and is expected to close in the next 45 days.

Arrow Electronics ( www.arrow.com ) is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. Arrow serves as a supply channel partner for over 1,200 suppliers and 115,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 340 locations in 52 countries.

Safe Harbor

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. This press release includes forward-looking statements, including statements addressing future financial results. These statements are subject to a number of risks and uncertainties that could cause actual results or facts to differ materially from such statements for a variety of reasons including, but not limited to: industry conditions, the company’s implementation of its new global financial system and the company’s planned implementation of its new enterprise resource planning system, changes in product supply, pricing and customer demand, competition, other vagaries in the global components and global ECS markets, changes in relationships with key suppliers, increased profit margin pressure, the effects of additional actions taken to become more efficient or lower costs, the company’s ability to generate additional cash flow and the other risks described from time to time in the company’s reports to the Securities and Exchange Commission (including the company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q). Forward-looking statements are those statements, which are not statements of historical fact. These forward-looking statements can be identified by forward-looking words such as “expects,” “anticipates,” “intends,” “plans,” “may,” “will,” “believes,” “seeks,” “estimates,” and similar expressions. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company undertakes no obligation to update publicly or revise any of the forward-looking statements.

SOURCE: Arrow Electronics, Inc.
Posted from: http://www.marketwatch.com/story/arrow-electronics-acquires-techturn-ltd-2012-01-18

TechTurn, the leader in technology returns and refurbishment, secured a ‘Leaders’ position in Gartner’s 2011 Magic Quadrant for North America Information Technology Asset Disposition.* This Magic Quadrant represents the first refresh of Gartner’s initial (2010) coverage of this industry segment.

Gartner’s Magic Quadrant is based on an extensive assessment of a company’s completeness of vision and ability to execute. TechTurn is named as one of six companies in the ‘Leaders’ Quadrant for its vision and ability to execute. According to Gartner, Leaders in the ITAD market execute well against their current robust vision, and are well positioned for the future. The vendors in the Leaders quadrant register the highest scores on Ability to Execute and Completeness of Vision. These vendors typically have wider geographic coverage, both within North America and globally.

Significant weight is placed on geographic coverage through direct, owned and operated facilities (vs. indirect coverage through partners), with special emphasis on North America. While this Magic Quadrant specifically evaluates the North American ITAD marketplace, our research indicates that many North America-based multinational enterprises place significant value on a robust international ITAD presence. Vendors in the Leaders quadrant are also characterized by comprehensive sales organizations, financial stability, a clear and consistent commitment to the ITAD market, comprehensive customer support, broader service portfolios, and greater market presence.
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Austin, TX – Nov 28, 2011 – TechTurn expands its reach to five new regional R2 certified processing centers through a strategic partnership with Sims Recycling Solutions (Sims). The new US locations in Tampa, FL, Nashville, TN, Chicago, IL, Sacramento, CA, and Los Angeles, CA are owned and operated by Sims, the world’s largest e-recycling company. The strategic partnership between Sims and TechTurn will provide significant savings to TechTurn clients on logistics and e-scrap recycling costs.

TechTurn’s Austin based processing facility became the world’s first to be certified to the R2/RIOS standard in December, 2009, and all TechTurn and Sims US locations have achieved third party R2 certification.

TechTurn’s CEO, Jeff Zeigler, says “For the last 5 years, TechTurn has invested heavily in its remanufacturing capabilities to maximize reuse and in a global marketplace of customers and dealers that buy and resell rebuilt technology. Now that we have 7 regional centers, we can better serve enterprise customers with distributed assets and keep their costs very low”.

For more information or to see a World-Wide map of all TechTurn receiving locations, including Canada and Europe, please click here.

About TechTurn
TechTurn processes and sells millions of technology devices that are returned or recycled from businesses and consumers. TechTurn is the world’s first R2 certified recycler and Microsoft Authorized Refurbisher. Businesses send their refreshed or retired devices to TechTurn directly or through resellers. Consumers access TechTurn services through retailer’s trade in and returns programs. The company operates Lean, ISO certified factories that rebuild, repair, refurbish, and recycle all types of computers, mobile devices, data storage, and components. TechTurn sells and supports rebuilt devices to online retailers, electronics vendors and TechTurn’s online store. TechTurn’s global dealer network markets rebuilt devices worldwide and is closing the digital divide by providing high quality affordable devices. As a recognized leader in Corporate Social Responsibility, TechTurn provides free community recycling events and has sponsored EPAs Earth Day collections. The company also promotes technology in education through its partnership with Teach for America. For more information, visit www.techturn.com.

About Sims Recycling Solutions
Sims Recycling Solutions is the global leader in electronics reuse and recycling, offering customers in every business sector comprehensive recycling services out of our 50 owned and operated sites across the globe.

Sims Recycling Solutions – owned by Sims Metal Management, a publicly traded company – has the global reach, expertise and infrastructure necessary to guarantee our customers that their data is secure, their electronic equipment is processed in an environmentally responsible manner, their reputation is protected and their compliance risks are eliminated.

In America, Sims Recycling Solutions operates 14 sites in Arizona, California, Florida, Illinois, Nevada, New Jersey, Ontario, South Carolina Tennessee and Texas.

When recycling electronics, what should you do? Sell them? Donate them? Store them? Smash them with a hammer? Every option has risks CFOs need to mitigate.

Marielle Segarra – CFO.com | US   September 22, 2011

What should you do with your old computers? It’s not always clear. Federal regulations on recycling electronics have been historically lax, but new state laws are cropping up across the country. At least 25 states have enacted their own regulations regarding the disposal of computer hardware containing potentially lethal amounts of lead and mercury, and several more are considering e-waste recycling bills.

But recycling is not simply a compliance issue. When computers are discarded, the data they contain is often Continue Reading →