Oman National Electronics and Panatech Engineering announce their unification

The reason behind the consolidation is in direct response to the changing needs of the electronics market and customers. The industry has become more focused on meeting industry demands, therefore the need for consolidation and a more streamlined approach to the electronics business.

Sam Turel, General Manager of new company Al-Futtaim Panatech, said: "The basis of the amalgamation of these two Al-Futtaim companies was to offer a more cost effective solution for our business. 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."

The Al-Futtaim Group perceives that the joining of these two companies will not only increase market share, but that it will also lead to greater profitability, specifically based on two powerful entities; the fact that Al-Futtaim is one of the largest and most successful businesses in the region synonymous with quality, professionalism and customer satisfaction, and that Panasonic is the leading international electronics brand that symbolizes trust, innovation and cutting edge technology.

Turel continued, "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."

As the electronics market requirements evolve, it is imperative that electronics companies proactively and confidently move with the times. Not only for the sake of their business, but also to keep ahead of the competition.

Turel concluded, "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".