The company increased its workforce by 60 percent and doubled its annual revenue in the region in 2022
HOUSTON, Feb. 13, 2023 /PRNewswire-PRWeb/ -- Smith, a leading global distributor of electronic components and semiconductors, today announces its 2022 year-end growth summary for the EMEA region. The company fostered significant growth across the region, including new and expanded sales offices, major investments in component testing and inspection, a 60-percent increase in total workforce, and more than doubling the previous year's annual revenue.
"Smith has been a valued supply chain partner in EMEA for more than two decades," said Cleat Kimbrough, President, EMEA at Smith. "As the semiconductor industry has grown and changed, Smith has been there to support our customers and address their unique needs, and our products and services will continue to evolve to keep Smith on the leading edge of Europe's booming technology market."
Smith's customers in the automotive market have faced unprecedented challenges across all verticals of their supply chains, but Smith's tailored, proactive solutions have helped to mitigate these difficulties and develop key opportunities in the region.
"The global semiconductor shortage hit automotive manufacturers, many of whom are in the DACH region, especially hard over the last two years," said Fabio Gimondi, Managing Director, DACH at Smith. "Meanwhile, other high-risk applications, like medical manufacturing, are also being heavily impacted by the shortages, and emerging industries, like renewable energy and industrial automation, are adding to the significant demand for semiconductors in EMEA."
To match this increase in demand, Smith opened a new office in Maidenhead, United Kingdom, and expanded its existing offices in Berlin, Germany, and Cluj-Napoca, Romania. Less than 30 miles from London, Maidenhead is part of the Silicon Corridor, a major hub for startups and other technology companies in Europe.
"The United Kingdom is a technological powerhouse in Europe and will be the next phase of our expansion here," said Cleat. "We are excited to build our presence and provide more localized support to our partners in and around Maidenhead."
Germany is home to Europe's largest economy and more than two dozen Fortune 500 company headquarters. Smith opened its Berlin office in late 2021 and relocated to a larger, more centralized space six months later after tripling the location's staff size.
"The vast German technological and industrial markets hold endless opportunities for our expert trading teams to showcase our flexible and comprehensive supply chain solutions," said Fabio. "We are excited to continue growing our customer base and expanding Smith's footprint in the country."
Smith also expanded its Cluj-Napoca office, increasing the space by 325 percent. The location opened in 2017 and has since quadrupled its workforce.
"Our new Cluj office was designed to create a productive, energizing, and inspiring environment for our employees," said Luciana Cuc, General Manager, Cluj-Napoca. "Smith has become a major player in Romania and other nearby markets since opening our office six years ago, and we are well-positioned to continue building upon our successes."
Smith has also invested heavily in its operational capabilities in the region. The company's Amsterdam distribution center grew its total headcount by 20 percent and purchased additional counterfeit-detection testing equipment to increase the facility's capacity by 50 percent. The hub also earned its R2 certification last year, demonstrating Smith's commitment to responsible recycling practices.
While Smith has expanded outward into new markets to offer its premier supply chain support, the company has also looked inward for growth opportunities for its employees.
"We have added many new team members at every EMEA location this year while still maintaining the close-knit and collaborative environment we've always had," said Alexander Westerveld, General Manager, Amsterdam. "During our multiple joint events between our Amsterdam sales office and distribution center, our employees were able to put faces to names and strengthen our internal relationships."
Moving into 2023, Smith will continue to drive innovation and cultivate strategic business opportunities across the EMEA region.
"Smith has had an incredible year of growth in EMEA, but we are just getting started," said Cleat. "Our European teams are ready to navigate our customers' electronic-component distribution needs, thanks in no small part to the dynamic expertise and astute guidance of our office leadership – Fabio, Luciana, and Alexander. Their insights, industry knowledge, and steadfast support have strengthened our region and prepared us for the successes to come."
About Smith
Founded in 1984, Smith sources, manages, and distributes the electronic components that go into everything from mobile phones and computers to appliances and automobiles. In 19 cities around the world, Smith's legion of employees communicates in 50 languages and dialects and buys and sells components 24 hours per day, generating global annual sales in excess of $3.4 billion in 2021. Smith is always moving: helping manufacturers navigate market shifts; customizing supply chain solutions; testing components using cutting-edge technology. The support of Smith's flexible Intelligent DistributionTM model optimizes customers' supply chains from beginning to end, including offering customized options for IT asset disposition that deliver maximum ROI, sustainability, and security. Smith's testing and logistics hubs in Houston, Hong Kong, Amsterdam, and Singapore cover critical areas like quality management, counterfeit prevention, and environmental safety. Smith's operations, purchasing, and sales worldwide are seamlessly integrated with the company's global IT infrastructure, offering real-time, global inventory and logistics visibility. Smith is the leading independent distributor of electronic components and ranks number seven among all global distributors. For more information, please visit http://www.smithweb.com or reach out to a Smith representative any time of day at +1 713.430.3000.
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Media Contact
Rich Witmer, Smith, 17134302141, [email protected]
SOURCE Smith
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