Milan, August 8th 2014 – UR Holding S.p.A. (SIN: A0LBEG/ISIN: IT0003463772) announced today that the company has entered into an agreement to sell its Power-Conversion business to Arrow Electronics (NYSE:ARW)
“The sale of the Power Conversion activities, representing approx. 50% of UR Group’s total revenues with a stable earning contribution, will support our strategy to focus more on the strong growing business with embedded technologies, satellite communication and Supply Chain Management. We will re-invest a significant part of the proceeds from this transaction in these divisions to support the future growth of the overall organisation” said Giovanbattista Laghezza, CEO & President of UR Group.
The transaction will become effective on September 30th 2014 and the parties agreed not to disclose details of the transaction and purchase price.
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 100,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 460 locations in 58 countries.
The UR Group provides technological & service solutions in Communications, Embedded Technologies and Supply Chain Management. With extensive product knowledge and market-focused strategy it can provide design, development, application support and product fulfilment throughout its global locations.
Press Contact: Mr. Stefan Haas, UR Holding S.p.A., Viale Edison 44, 20090, Trezzano s/N, (Milan) Italy
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