Electronics distributor TTI has acquired HuaTong Electronic Co., Ltd., an electronic components distributor headquartered in Dongguan Shilong, China. Founded in 1994, HuaTong was the first batch authorized distributor of Molex connectors in Greater China and remains the largest domestic Molex distributor in Asia Pacific South, according to a TTI statement announcing the purchase.
The deal follows TTI’s acquisition of New York-based Astrex Electronics earlier this summer.
HuaTong is a specialty distributor that partners with many Chinese domestic cellular phone manufacturers—a market TTI has not served in China. The company has 60 employees at locations in Dongguan Shilong, Hong Kong, Suzhou, Shenzhen, and Beijing.
“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,” said Gene Conahan, president TTI Europe and Asia. “With the good people of HuaTong on our team, I anticipate continued success in both areas.”
HuaTong’s General Manager, Man Deng, will report directly to Anthony Chan, TTI Asia’s senior vice president and general manager.
TTI, Inc. is a wholly owned subsidiary of Berkshire Hathaway.