Oce to Outsource European Lease Activities
Thursday, December 13, 2001
Venlo, the Netherlands, December 12, 2001 — Oce N.V. has begun to outsource its European lease activities to two external partners. Telia Finans A.B., Stockholm, will handle the private label vendor lease programmes of Oce in the Scandinavian countries. A letter of intent has been signed with De Lage Landen International BV, Eindhoven, to serve a number of European countries via a new joint venture, which still has to be established. With effect from 2002 this new joint venture with De Lage Landen, Oce Finance International B.V., will offer lease products to customers of Oce in a number of European countries. It is expected that in the course of 2002, Oce Finance International B.V. will also take over existing lease portfolios of Oce in a number of European countries still to be determined. The lease portfolios of the Scandinavian countries are expected to be placed with Telia Finans during the course of 2002. This represents a major extension of the previously announced transfer of local lease portfolios to external lease partners. R. van Iperen, chairman of the Executive Board of Oce N.V.: “We are pleased that we have found solid partners in De Lage Landen and Telia Finans. This development aimed at further increasing the level of service, is of importance for our customers as well as for Oce. This fits in completely with the strategy that Oce has been communicating over the past year.” Oce’s total lease portfolio worldwide amounts to about Euro 1.1 billion, of which Euro 0.6 billion is in Europe. This co-operation provisionally relates to the European lease portfolio. Experiences in Europe will determine the direction to be taken as regards the portfolios of the United States and the rest of the world.