Fort Worth-based TTI buys Chinese electronics firm
Fort Worth-based TTI, Inc. a subsidiary of Berkshire Hathaway, said it has acquired the assets of HuaTong Electronic Co., an electronic components distributor in Dongguan Shilong, founded in 1994.
Huatong employs about 60 associates at locations in Dongguan Shilong, Hong Kong, Suzhou, Shenzhen and Beijing. The company is a specialty distribution partner to many Chinese, domestic cellular phone manufacturers, a market segment not previously served by TTI in China.
Gene Conahan, president TTI Europe and Asia, said, “Bringing Huatong Electronics into the TTI family of companies establishes our presence in the fast growing Chinese cellular phone market segment and is further evidence of TTI’s commitment to growth in the region.”
Man Deng, Huatong’s general manager, will report directly to Anthony Chan, TTI Asia senior vice president and general manager.
“When my team and I consider the expansion of the company, second only to ensuring a culture of superior customer service, is our commitment to being specialists in the products and services we offer,” said Paul Andrews, TTI founder and chief executive officer, in a statement. “Huatong’s proven ability to deliver both of these to the benefit of their customers makes the joining of our companies a good fit.”
_ Sandra Baker