S-Net is a declarative coordination language and component technology aimed at modern multi-core/many-core architectures and systems-on-chip. It builds on the concept of stream processing to structure dynamically evolving networks of communicating asynchronous components. Components themselves are implemented using a conventional language suitable for the application domain. This two-level software architecture maintains a familiar sequential development environment for large parts of an application and offers a high-level declarative approach to component coordination. In this paper we present a conservative language extension for the placement of components and component networks in a multi-memory environment, i.e. architectures that associate individual compute cores or groups thereof with private memories. We describe a novel distributed runtime system layer that complements our existing multithreaded runtime system for shared memory multicores. Particular emphasis is put on efficient management of data communication. Last not least, we present preliminary experimental data.