SND Electronics Relocates After 33 Years in Greenwich -
Continuing Three Decades of Excellence
Newtown, CT - October 4, 2006
Michael Di Benedetto, Chief Executive Officer of SND Electronics LLC, announced today the completion of the company's relocation to its new corporate headquarters in Sandy Hook (Newtown), Connecticut. Occupying office and warehouse space in a new, state of the art, 72,000 square foot facility, SND is well positioned to face the challenges of the brokerage industry in the 21st century.
"Our facility is unique and provides state of the art security in an ESD compliant, climate controlled and monitored environment in an excellent location. From here we can run our ISO certified operations and implement our plans to raise the bar in the industry to improve quality control."
The move is part of a resurgence of SND, a company that has a history of more than 33 years as an independent distribution channel. No longer owned by ce Global Sourcing AG (f/k/a ce Consumer Electronics AG), SND and its subsidiary, Global Technology Exchange LLC ("GTE") are now independent contenders in the open market arena. Now held by AstonTec Holdings LLC, "SND and GTE are nimble and highly competitive, with an incredible combination of sales and purchasing talent, management expertise, and a high-tech physical plant that can serve the needs of our OEM and EMS customers with a new level of excellence in the industry" says Mr. Di Benedetto. "This is an exciting time for SND as it is now repositioned to resume its leadership role in the industry."
GTE has undergone its own changes, moving into new office space in its main US location in Irvine, California, and jettisoning its trading operation to focus on what has always been its core business - its diversified semi-conductor independent distribution operation. This has meant the loss of some GTE employees but as Mr. Di Benedetto states, "We strive for the highest level of achievement in all performance criteria, and the trading operation was not meeting our standards for profitability and growth, and the change allows us to deploy our capital more efficiently to better serve our independent distribution customers. Success means focusing on your core competencies, and GTE's Asian open market operation is exceptional."
"Major challenges bring major changes," adds Christopher R. DeNisco, Chairman of AstonTec Holdings. "We are extremely excited about what we are doing to address the current quality control challenges in the market place. By implementing EDXRF RoHS testing, computer aided visual inspection, and in the coming months in-house X-Ray testing, we continue to achieve an ever higher level of quality assurance."
About SND Electronics LLC and Global Technology Exchange LLC:
SND Electronics and Global Technology Exchange are leading open market suppliers with direct access to, and available buyers for, current, and legacy components. They also manage excess and obsolete electronic components and computer peripherals, and finished, and semi finished products. A broad range of value-added services are available to its customers including sourcing allocated, obsolete and end-of-life components; 24x7 services; Schedule Order / Last Time Buys and Cost Savings Programs; Just-in-Time Shipping; Global Logistics Support; In-House Tape and Reeling Services and In-House re-baking and dry packing. SND's corporate headquarters is located in Sandy Hook, Connecticut. GTE's Asian operation is headquartered in Taipei, Taiwan with branch offices in Hong Kong, Shanghai, Shenzen and Singapore.
For more information please visit www.snd.com, www.globaltechasia.com or contact Mr. Di Benedetto at:
SND Electronics LLC
14 High Bridge Road
Sandy Hook, Connecticut 06482
203-304-4300
