Log In | Become a Member | Contact Us


Leading printing executives into the future

Connect on Twitter | Facebook | LinkedIn

Featured:     NEW: Inkjet Resources & Knowledge Base     Industrial Print Analysis     European Coverage     Conversations on Print Podcast

Pitney Bowes Sells Oce Imagistics Lease Portfolio

Tuesday, May 02, 2006

Press release from the issuing company

STAMFORD, Conn., May 1 -- Pitney Bowes Inc. today announced the sale of its Oce Imagistics, Inc. lease portfolio for approximately $288 million to De Lage Landen, a subsidiary of the Rabobank Group, that specializes in international asset financing and vendor finance programs. The portfolio consists of leases for document imaging solutions, facsimile systems, copiers and multi-functional systems marketed by Oce Imagistics, a division of Oce N.V.. The company expects to realize about $210 million of after-tax cash proceeds from the transaction and to recognize an after-tax gain of about $10 million. The sale of the Oce Imagistics lease portfolio is part of the company's strategy to reduce its exposure to the Capital Services external financing business. The company is currently exploring a range of asset and business disposition alternatives for Capital Services including a spin-off, a sale of the business or a sale of all or a portion of the assets.

 

 

SHARE

Email Icon Email

Print Icon Print

Become a Member

Join the thousands of printing executives who are already part of the WhatTheyThink Community.

Copyright © 2017 WhatTheyThink. All Rights Reserved