CHS Electronics

For over 14 years, CHS Electronics was a multinational distributor of microcomputer products, personal computers, peripherals, networking products and software founded by Claudio Osorio. After reporting accounting irregularities,[1][2][3] the company filed for bankruptcy in February 2000. A class action lawsuit was filed.[4] The case was settled.[5]

History

The company sold hardware and software products such as local area networks, disk drives, printers, personal computers, random access memory chips, central processing units and integrated circuit boards. The principal vendors of the company included Seagate, Hewlett-Packard, Microsoft, IBM, Sun and Creative Labs, 3Com, Microsoft, Epson and Intel. The company operated in 46 countries mainly in Western Europe, Eastern Europe and Latin America.[6]

Mergers

During the year 1998, the company acquired Metrologies International SA and subsidiaries of SiS Distribution Ltd including 14 other acquisition. The company has operations in the United States, Western Europe, Eastern Europe and Latin America. The companies customers include assemblers of non branded component products and resellers.[7]

Fortune 500 1998

Miami-based CHS Electronics, ranked number 320 on the 1998 Fortune 500 list of the largest U.S.-based industrial corporations with sales of $7.5 billion and net income of $87.9 million for the last four quarters, was a leading international distributor of microcomputers, peripherals, and software to more than 130,000 resellers in 46 countries in Europe, Latin America, Asia, the Middle East and Africa, until its bankruptcy due to an investigation of tax fraud.

References

  1. ↑ Knight Ridder/Tribune Business News March 30, 1999 | McNair, James | CopyrightMiami-Based CHS Electronics Denies Lawsuit's Latest Allegations
  2. ↑ Osorio’s InnoVida companies enter Chapter 11 March 24, 2011 South Florida Business Journal
  3. ↑ James McNair Time to reboot? 3/29/1999 Business Section Miami Herald (Silicon Investor)
  4. ↑ / "CHS Electronics (NYSE:CHS) a leading international distributor of computer products was today charged in a class action lawsuit with deliberately avoiding European Value Added Taxes (VAT) in order to fraudulently increase company profits and inflate the CHS"
  5. ↑ LegalMetric "Darby, et al v. CHS Electronics Inc, et al"
  6. ↑
  7. ↑ The free library "CHS Electronics to Distribute Ericsson in Latin America"
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