Anixter International Significantly Expands Presence in the Kingdom of Saudi Arabia through the Creation of Anixter Saudi Arabia Limited

GLENVIEW, Ill., Oct. 6, 2011 /PRNewswire/ -- Anixter International Inc., (NYSE: AXE), a leading global distributor of communication and security products, electrical and electronic wire and cable, fasteners and other small parts, announced today that it is establishing a strategic partnership in the Kingdom of Saudi Arabia with Mohawarean Trading Company (MTC), a subsidiary of Mohawarean International Group (MIG), through the formation of a new business entity, Anixter Saudi Arabia Limited. Anixter will have the majority holding in the joint venture.

For customers around the world, Anixter combines a vast product offering with technological expertise and innovative Supply Chain Solutions. Whether providing products for a wind farm, data center project or a manufacturing production line, Anixter brings extensive experience and expertise to every customer. The company focuses on addressing customers' larger business needs for knowledgeable product and technical support and supply chain efficiencies.

Commenting on this new venture, Anixter's President and CEO, Bob Eck, said, "One of our key strategies is to expand the markets we serve, and we believe the Kingdom of Saudi Arabia presents a significant opportunity for Anixter and its business partners given the Kingdom's investments in infrastructure, strong economy, and strategic economic and geographic position in the Middle East markets that Anixter serves." Eck added, "We wish to thank MIG for the in-depth guidance they provided in launching this new business. Their market presence, knowledge and on-going support will be invaluable to the business as we establish our position in the local market."

MIG's Group President and CEO, Mr. Mohammed Al Othman, commented, "The formation of Anixter Saudi Arabia Limited as a joint venture with Mohawarean Trading Company is an exciting new development for our group. The combination of Anixter's unmatched capabilities and strong brand as a leading global distributor of products, coupled with Mohawarean Trading Company's established presence and knowledge of the marketplace in the Kingdom, provides an exciting formula to develop Anixter's position in the Saudi marketplace for the long term."

This is Anixter's latest and most significant commitment to the Middle East market and follows previously successful investments in the United Arab Emirates, Oman, and Qatar.

About Anixter
Anixter International is a leading global distributor of communication and security products, electrical and electronic wire and cable, fasteners and other small parts. The company adds value to the distribution process by providing its customers access to 1) innovative inventory management programs; 2) more than 450,000 products and over $1 billion in inventory; 3) 225 warehouses with approximately 7 million square feet of space; and 4) locations in over 260 cities in more than 50 countries. Founded in 1957 and headquartered near Chicago, Anixter trades on The New York Stock Exchange under the symbol AXE.

About MIG
Established in the Kingdom of Saudi Arabia in 2000, Mohawarean International Group (MIG) has grown from a company meeting the challenges of the Saudi Arabian Market to an international corporation operating in 9 countries. The company's subsidiaries and affiliated companies operate in a wide portfolio of key industries offering innovative solutions, products and services to the private sector and government agency clients. Headquartered in Riyadh, MIG has offices in the major cities of the Kingdom of Saudi Arabia as well as GCC Countries, North Africa, Europe, Asia and North America.

Safe Harbor Statement
The statements in this news release that use such words as "believe," "expect," "intend," "anticipate," "contemplate," "estimate," "plan," "project," "should," "may," "will," or similar expressions are forward-looking statements. They are subject to a number of factors that could cause the company's actual results to differ materially from what is indicated here. These factors include general economic conditions, including the severity of current economic and financial market conditions, the level of customer demand particularly for capital projects in the markets we serve, changes in supplier sales strategies or financial viability, political, economic or currency risks related to foreign operations, inventory obsolescence, copper price fluctuations, customer viability, risks associated with accounts receivable, the impact of regulation and regulatory, investigative and legal proceedings and legal compliance risks, potential impairment of goodwill and risks associated with integration of acquired companies. These uncertainties may cause our actual results to be materially different than those expressed in any forward looking statements. We do not undertake to update any forward looking statements. Please see the company’s Securities and Exchange Commission filings for more information.

Additional information about Anixter is available at anixter.com

SOURCE Anixter International Inc.