- Future Electronics
Future Electronics Inc. is a distributor of electronic and electro-mechanical components headquartered in
Pointe Claire ,Quebec . Founded in 1968 by reclusive billionaire Robert Miller, Future is one of Quebec's largest privately owned companies [http://www.bizjournals.com/memphis/stories/2002/10/28/story5.html] and is currently the third largest electronics distributor in the world. [http://i.cmpnet.com/my-esm/2007/ESM0507_18_19.pdf] Contrary to others of the largest global distributors, its growth into this leading position was primarily through internal growth with few acquisitions or mergers.Future in the past had separated its operations into two complementary businesses, Future Global which served Future's large customers and Future Active/Industrial (FAI) which supported small to mid-sized customers. However, beginning in 2008, Future combined Future Global and FAI into a single consolidated operation. Future also runs a separate business, the Future Electronics Component Super Store (catalog, online and retail sales), which was launched in 2007.
Future Electronics also operates an Advanced Engineering Group composed of field applications engineers throughout the world available to assist circuit design engineers with product selection and engineering support.
Future's estimated annual sales are over CAD $4.5 billion. [http://www.edn.com/article/CA6433700.html]
Raid by Royal Canadian Mounted Police
In 1999, Future's Montreal offices were raided by the
Royal Canadian Mounted Police following a three-year investigation by the USFederal Bureau of Investigation into allegations that the company had overcharged American customers, includingMotorola andTexas Instruments , by as much as $100 million. Future denied all charges and Miller called the raid an "unfounded assault on our integrity." [http://64.233.167.104/search?q=cache:RD2AbFJs10oJ:members.forbes.com/forbes/1999/1227/6415078a_print.html] A year after the raid, a Quebec appeals court ruled that the RCMP warrant was invalid because it had been issued based on allegations made by former employees who had failed to take an oath of truthfulness. [http://www.electronicsweekly.com/Articles/2000/12/13/18864/court+rules+in+favour+of+future+electronics+over+police.htm] Shortly thereafter, all documentation seized in the 1999 raid was returned to Future and disallowed in any legal proceedings.In 2002 the Office of the US Attorney in
Dallas, Texas abruptly announced that the investigation had been closed and that no charges would be filed. [http://www.bizjournals.com/dallas/stories/2002/04/29/story4.html] Neither the US Attorney's office nor the alleged victims of the scheme would publicly comment on the case.References
* [http://www.futureelectronics.ca Company Homepage]
* [http://www.reed-electronics.com/eb-mag/article/CA67961?text=top+25+electronics+distributors Top 25 Electronics Distributors 1998]
* [http://www.bizjournals.com/memphis/stories/2002/10/28/story5.html Future Opens New Warehouse in Memphis] ,Memphis Business Journal ,2002-10-25 retrieved2006-07-10 Links
* Electronics Industry Data Exchange Group.
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