Warren Buffett Speaks Candidly about TTI, and CEO Paul Andrews at the Berkshire Hathaway Shareholders Meeting
Fort Worth, Texas – May 10, 2018 – Global electronics distributor, TTI, Inc. found itself in the limelight at the annual Berkshire Hathaway Stockholders meeting last week in Omaha, Nebraska where more than 40,000 investors gathered to hear sage investment advice from the world’s greatest investors, Warren Buffett and Charlie Munger.
During the highly anticipated question and answer session, the investment duo was asked to discuss the extraordinary growth that the TTI family of companies is experiencing as one of Berkshire Hathaway’s fastest growing non-insurance businesses. TTI was purchased by Berkshire Hathaway in 2007 and remains the only electronics company in the Berkshire Hathaway portfolio.
Buffett first acknowledged founder and CEO, Paul Andrews, for his vision and exceptional management style for making the worldwide operation the success it is today. He spoke of the complexity of the business requiring a very high number of transactions on low cost components and shared this insightful premonition, “Something is going on out there, nobody is just buying these parts and storing them in their basement, these part are getting used.”
Hear more on TTI from Buffett and Munger.
TTI, Inc., a Berkshire Hathaway company, is an authorized, specialty distributor of interconnect, passive and electromechanical (IP&E) components and the distributor of choice for industrial and consumer electronics manufacturers worldwide. Broader and deeper inventory, leading-edge products and custom supply chain solutions have established TTI as the leading specialist in electronic component distribution. Globally, the company maintains two million cubic feet of dedicated warehouse space containing over 850,000 component part numbers. Along with its subsidiaries, Mouser Electronics, Sager Electronics, and Symmetry Electronics, TTI employs over 5,400 employees and is represented in over 100 locations throughout North America, Europe and Asia. For more information about TTI, visit www.ttiinc.com.
Mouser Electronics, a Berkshire Hathaway company, is an award-winning, authorized semiconductor and electronic component distributor focused on rapid New Product Introductions from its manufacturing partners for electronic design engineers and buyers. The global distributor's website, Mouser.com, is available in multiple languages and currencies and features more than 5 million products from over 700 manufacturers. Mouser offers 22 support locations around the world to provide best-in-class customer service and ships globally to over 600,000 customers in 170 countries from its 750,000 sq. ft. state-of-the-art facility south of Dallas, Texas. For more information, visit www.mouser.com.
About Sager Electronics
Sager Electronics, a wholly owned subsidiary of TTI Inc., a Berkshire Hathaway Inc. company, is a North American distributor of Interconnect, Power and Electromechanical components from leading manufacturers worldwide and a provider of value-add solutions. Grounded in over 130 years of innovation and service, Sager Electronics provides customers and suppliers a unique combination of operational excellence and innovative business solutions through its Distributing Confidence® business model. Headquartered in Middleborough, MA, Sager Electronics operates a national network of field sales representatives and power systems sales engineers, strategically located service centers across North America, and a value-add Power Solutions Center located in Carrollton, TX. To learn more about Sager, visit www.sager.com.