Oce Announces Actions to Capitalize on the Opportunities Provided by the Imagistics Acquisition
Press release from the issuing company
VENLO, Netherlands--Dec. 1, 2005-- Oce N.V. a global leader in digital document management and delivery solutions with pro forma annual revenues of EUR 3.1 billion (US$ 3.7 billion), today announced a series of actions to capitalize on the opportunities provided by its recent acquisition of Imagistics International Inc.
Effective January 1, 2006, Oce will establish Oce Imagistics, a new division that combines the office business of Imagistics International with the office and Digital Printing Centers (DPCs) business of Oce North America's Digital Document Systems (DDS) division. Oce Imagistics will have annual revenues in excess of $700 million. The other operations of DDS, based in Boca Raton, Florida, will focus on the high-speed production and transaction printing, variable data and publishing needs of digital print providers and customers in graphic arts, direct mail and corporate IT centers.
Jan Dix, member of the Board of Executive Directors of Oce N.V. and President and Chief Executive Officer of Oce-USA Holding Inc., stated, "The establishment of Oce Imagistics will bring the best and broadest product line in the industry to the market with a highly focused sales organization. With approximately 1,300 dedicated sales representatives supported by a world class service organization, we are able to focus on opportunities in the networked office, large corporate and government Digital Printing Centers, commercial printing, and high-speed production printing markets. This is in addition to Oce North America's existing sales efforts in the large format printing and outsourced document process management markets."
The team responsible for integrating Imagistics into the Oce family carefully assessed the market opportunities and identified the optimum organizational structure and leadership. A number of other integration efforts are in progress including rationalization of IT systems, field office locations, financial reporting, and back office support.
Marc C. Breslawsky, formerly Chairman and Chief Executive Officer of Oce Imagistics, has retired from the day-to-day leadership of the company. Mr. Breslawsky will continue as a member of the board of directors of Oce-USA Holding Inc. and as an advisor to the Oce family of companies on a long-term basis.
After careful consideration all parties concluded that the contribution of Mr. Breslawsky to a successful integration of Imagistics and further development of Oce's business in the United States will be better served by a longer term, dedicated role in the Board of Oce-USA Holding Inc. instead of being a member of the Executive Board of Oce N.V. with the full scope of corporate responsibilities.
Joseph D. Skrzypczak, previously President and Chief Operating Officer of Oce Imagistics, has assumed the responsibility of President and Chief Executive Officer of Oce Imagistics effective December 1, 2005. Mr. Skrzypczak joined Pitney Bowes in 1981 and held increasingly responsible positions in finance and operations. He served as Chief Operating Officer of Dictaphone Corporation, which was spun-off from Pitney Bowes in 1995. He joined Imagistics in 2001 and was responsible for executing the company's successful business strategy, which resulted in earnings growth in excess of 20 percent annually.
Jan Dix, member of the Board of Executive Directors of Oce N.V. will remain President and CEO of Oce-USA Holding Inc., responsible for all Oce activities in North America.
Mr. Rokus van Iperen, Oce N.V. CEO and Chairman, commented, "Marc Breslawsky has had a distinguished career in the office products industry. Under his skilled leadership, Imagistics evolved into a highly successful company and we expect to continue to receive the benefits of his experience as a consultant. I am excited about the tremendous growth prospects of the Oce family of companies and I am confident in the proven leadership abilities of Jan Dix at Oce North America and Joe Skrzypczak at Oce Imagistics."
Through the aforementioned organization, Oce Imagistics will expand its focus into the high-volume DPCs of large corporate and government customers. The company is establishing a dedicated sales and marketing group to serve the high-volume DPC market segment.
Nick Klitsie, currently the Business Manager of Oce Wide Format Printing Systems in the UK, will lead this new group from the Oce Imagistics offices in Trumbull, Connecticut as Vice President and Business Group Manager DPC. Mr. Klitsie joined Oce in 1986 and his career has included positions of increasing responsibility in the marketing and business management of office, wide format, and high-speed printing systems. His experience includes tours of duty at the Oce International Headquarters in Venlo, The Netherlands, and the Oce Far East operations in Singapore.
Having the high volume sales and marketing functions reside within Oce Imagistics greatly enhances the company's strategic thrust to leverage the customer base and sales and service organizations of Oce and Imagistics, providing a robust capability to refer customers and cross sell services.
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