The distie has said that it made the decision after a review of the business concluded that it was “unlikely to make the necessary returns needed to meet [its] strategic goals in the short- or mid-term.”
In a statement the company said the that the “difficult” decision would not impact the computer components and integrated solutions business which continue to support key partners in the region.
However it pointed out that it had to make the moves and take the action to realign resources from underperforming businesses to areas that can deliver strong performance for Avnet, its suppliers and partners.
Avnet also claimed its immediate priorities were to ensure that it provided the necessary support to its employees throughout this process and to fully assist its supplier and business partners as we manage our exit from this market.
“Our decision to exit this region will have no impact on the independently operating Avnet Electronics Marketing business in the region, specifically South Africa and Israel,” the statement said.