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MAN Roland Anticipates Positive Earnings for 2002, Despite Tough Economy

Press release from the issuing company

Westmont, Illinois — Bucking industry trends, MAN Roland estimates that its worldwide earnings before tax (EBT) for 2002 will be on the positive side of the ledger books. However, the company cautioned that its 2002 EBT would not approach 89 million EUR figure it achieved in 2001. "The economic recovery expected for the second half of the year has failed to materialize," it stated. Some other manufacturers have announced massive staff reductions in recent weeks, citing poor financial performance. "The good news is that by staying in the black, we’re able to maintain our service and support functions at optimal levels so we can be there whenever our customers need us," said Yves Rogivue, CEO of MAN Roland Inc. here in North America. "It’s the printers and their customers who are going to lift us out of this downturn," he continued. "So we’re devoting all of our resources, in terms of technology, training and expertise, to help them utilize print media more effectively. The more that happens, the more our industry’s economic outlook will improve."