Oman National Electronics rebrands

Signs of consolidation in 2004 for the evolving electronics channel have started with the alliance of Oman National Electronics (ONE), and Panatech Engineering.

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By  Paul Barthram Published  January 11, 2004

Signs of consolidation in 2004 for the evolving electronics channel have started with the new alliance between the Al-Futtaim brands of Oman National Electronics (ONE), and Panatech Engineering. The electronics retailer and distributor, which have long established histories in the UAE electronics channel have now unified their respective businesses to form one company that will be known as Al-Futtaim Panatech. The move is in direct response to the changing needs of the electronics market and its customers. Al-Futtaim management says it now sees the electronics business as becoming more focused on meeting industry demands, and therefore needing consolidation and a more streamlined approach to the electronics business. “The basis of the amalgamation of these two Al-Futtaim companies was to offer a more cost effective solution for our business,” explains Sam Turrel, general manager of the newly formed Al-Futtaim Panatech. “We found that our traditional retail and distribution channels were duplicated and this strained our resources and hindered improvement in our customer service. The consolidation will dispel that problem and will enable more emphasis on adding value and offering complete systems solutions to our customers.” Al-Futtaim sees the joining of the two companies as not only a means of increasing market share for the company, but also for laying the foundation for greater profitability. It specifically bases its assumptions on the branding power of the Al-Futtaim name in the region and its long-standing partnership with the Panasonic brand — of which Al-Futtaim Panatech will maintain its exclusive distribution deal with. “Unification will help the company to fully exploit the opportunities for growth and expansion of business in this rapidly changing market scenario. The organisation will now be structured to focus on providing a wider range of Panasonic products and services in the local market, through the traditional sales channels,” adds Turell. Asked whether he felt the company could match the expectation of the changing electronics market, Turell remains confident. “We pledge to embark on new challenges that will take us to new horizons and continue to look forward to serving our customers with pleasure and enthusiasm,” Turell concludes.

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