Canon and Océ combine Swiss printing operations
(Thomson Reuters ONE) -
Venlo, The Netherlands, London, UK; 10 June 2011 - Canon and Océ are to combine
their printing operations in Switzerland, following the completion, on 9 March
2010, of the public offer of Canon Inc. for Océ outstanding common shares, in an
effort to create the overall No. 1 presence in the printing industry.
To facilitate this combination, Canon Europa N.V., a 100% subsidiary of Canon
Inc., and Océ N.V. have reached agreement for Océ N.V. to sell 100% of Océ
(Schweiz) A.G. to Canon Europa N.V. Océ (Schweiz) A.G. accounts for 3-4% of
overall Océ revenues. The transaction price amounts to EUR 15.9 million.
In combining their Swiss businesses, Canon and Océ are addressing specific local
market conditions. A combined operation in Switzerland is better placed to
generate sales, taking into account the significant indirect business and fierce
competition in the local market place. The combined Canon and Océ operation
creates the largest printing presence in Switzerland.
Procedural aspects
Since this combination comprises a related party transaction, it is being
executed at arm's length. The transaction is fully in line with Canon's stated
intention to adhere to prevailing Dutch corporate governance standards. The
transaction has been approved by the Océ Board of Executive Directors and the
independent members of the Océ Supervisory Board. This decision took the
interests of all stakeholders into account.
In this context, ING Corporate Finance has rendered a fairness opinion
confirming that, from a financial perspective, the price is fair to Océ and its
shareholders.
Download the official press release (PDF)
For more information, please contact:
Nick Gale
Manager Media Relations
Océ
Tel. +31 (0) 77 359 56 28
E-mailnick.gale(at)oce.com
Gina Jones
Corporate PR Manager
Canon Europe
Tel: +44 (0) 208 588 8034
Email:gina.jones(at)canon-europe.com
--------------------------------------------------------------------------------
About Océ
Océ is one of the leading providers of document management and printing for
professionals. The Océ offering includes office printing and copying systems,
high speed digital production printers and wide format printing systems for both
technical documentation and color display graphics. Océ is also a foremost
supplier of document management outsourcing. Many of the Fortune Global 500
companies and leading commercial printers are Océ customers. The company was
founded in 1877. With headquarters in Venlo, The Netherlands, Océ is active in
over 100 countries and employs more than 20,000 people worldwide. Total revenues
in financial 2010 amounted to approximately ?2.7 billion. Océ is listed on
Euronext in Amsterdam. Océ N.V. is a Canon Group company. Canon Inc. owns
approximately 90% of Océ N.V. For more information visitwww.oce.com.
Océ and Canon: Stronger together
In 2010 Océ joined the Canon Group of companies with headquarters in Tokyo,
Japan, to create the global leader in the printing industry. Canon develops,
manufactures and markets a growing line-up of copying machines, printers,
cameras, optical and other products that meet a diverse range of customer needs.
The Canon Group comprises over 197,000 employees worldwide. Global net sales in
2010 were more than USD 45 billion. For more information visitwww.canon.com.
About Canon Europe
Canon Europe is the regional sales and marketing operation for Canon Inc.,
represented in 120 countries and employing over 11,000 people across Europe, the
Middle East and Africa (EMEA). Founded in 1937 with the specific goal of making
the best quality camera available to customers, Canon's tireless passion for the
Power of Image has since extended its technology into many other markets and has
established it as a world leader in both consumer and business imaging
solutions. Its solutions comprise products, ranging from digital compact and SLR
cameras, through broadcast lenses and portable X-ray machines, to multi-function
and production printers, all supported by a range of value added services. Canon
invests heavily in R&D to deliver the richest and most innovative products and
services to satisfy customers' creative needs. From amateur photographers to
professional print companies, Canon enables its customers to realise their own
passion for image. Canon believes that considering the interests of society and
the environment is an integral part of good business practice. This is embodied
in its corporate philosophy Kyosei - 'To live and work together for the common
good'. Further information about Canon Europe is available at:www.canon-
europe.com.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Océ via Thomson Reuters ONE
[HUG#1522600]
Unternehmensinformation / Kurzprofil:
Datum: 10.06.2011 - 07:31 Uhr
Sprache: Deutsch
News-ID 55469
Anzahl Zeichen: 5673
contact information:
Town:
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Kategorie:
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"Canon and Océ combine Swiss printing operations"
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