Eletrônica Selenium of Brazil acquired by Harman International
Published: ASIA
BRAZIL: Harman International has announced its intention to acquire the Brazilian Eletrônica Selenium S/A loudspeaker manufacturer in a deal expected to be completed within six weeks.
The acquisition has been described by Harman chairman, president and CEO Dinesh C. Paliwal as ‘an excellent fit to grow both our professional and consumer businesses and add some robust distribution channels with which to serve the fast-growing Latin America markets’.
The Nova Santa Rita, Brazil company is, says an official Harman statement, considered ‘a leading provider of professional and consumer audio solutions’ within its home territory. Originally founded in 1958, it is expected to achieve annual sales of approximately $60 million for the current calendar year and employs nearly 350 people at its combined 250,000 sq-ft manufacturing facilities in northern and southern Brazil. With a product portfolio that encompasses line arrays, screen technologies and portable systems, it currently counts the Pan American Games in Sao Paulo, the Cartagena Music Festival in Colombia, and the Madrid Music Festival among its recent high profile projects, alongside cinema, retail and infrastructure facility installations. It also boasts sales offices serving the US and Europe.
‘We look forward to welcoming the world-class technologies and talented employees of Eletrônica Selenium to the Harman organisation,’ explained Mr Paliwal, following the announcement. ‘Our products and technology philosophies are highly complementary, and we look forward to helping Eletrônica Selenium unlock new business potential.’
Echoing that sentiment was Selenium’s chief executive officer Rodrigo Rihl Kniest, who was ‘excited at the prospect of further energizing Eletrônica Selenium’s offering. Harman’s brands are extremely popular in Brazil and we look forward to leveraging this brand power through our distribution channels.’
Eletrônica Selenium’s market channels include a network of more than 30 distributors across Brazil and two distribution and logistics centres in the US. The company is also active in e-commerce transactions for both procurement and sales.