ID :
90030
Tue, 11/17/2009 - 01:33
Auther :
Shortlink :
https://oananews.org//node/90030
The shortlink copeid
Canon to acquire biggest European printer maker Oce of Netherlands
TOKYO, Nov. 16 Kyodo -
Canon Inc. said Monday it will buy out Oce NV of the Netherlands, the biggest
printer maker in Europe, through a tender offer worth about 730 million euros
(some 100 billion yen) to create a global leader in the printing industry.
In what will be Canon's largest merger and acquisition, the Japanese company
said it will buy all outstanding shares in Oce for 8.60 euros per share.
The move by the Japanese maker of digital cameras and printers comes as the
global economic downturn has dented sales of office machines, including ink-jet
printers.
Canon plans to launch the friendly takeover bid between January and March with
the aim of making the Dutch company a wholly owned subsidiary.
By putting Oce under its wing, Canon officials said the Japanese company aims
to capitalize on the Netherlands-based firm's strong sales clout in Europe and
the United States.
As Canon specializes in small printers for office use and Oce is strong in the
area of large, high-speed printers, Canon is aiming to raise its global
competitiveness by building up its product lineup, the officials said.
Canon President Tsuneji Uchida said at a news conference in Tokyo he sees his
company's partnership with Oce as a ''marriage'' with a good partner that will
yield benefits in their printer business.
''The products we sell and our targeted customer bases are different, so we
believe that by teaming up with Oce, we can come up with a full product lineup
and expand our market, and are aiming to be No. 1 in the printing industry,''
Uchida said.
Anton Schaaf, Oce's chief technology officer and chief operating officer, told
the same news conference, ''This collaboration will significantly strengthen
our distribution power by combining our sales networks in Asia, the United
States and Europe.''
Oce's sales network has spread to more than 30 countries, mainly in Europe and
the United States, with about 40 percent of its revenues coming from the United
States. Founded in 1877, Oce's 2008 revenues were roughly 2.9 billion euros.
Uchida did not give numerical targets for profit or sales following the
takeover, simply reiterating that the two companies' products and services are
''complementary.''
He said it will take about three years for the synergy effect of their
integration to be translated into revenues.
Canon has reported its group net profit and sales for the last business year to
December fell 36.7 percent to 309.15 billion yen and 8.6 percent to 4.09
trillion yen, respectively, marking their first drops in nine years partly due
to falling demand amid the global economic slowdown.
==Kyodo
Canon Inc. said Monday it will buy out Oce NV of the Netherlands, the biggest
printer maker in Europe, through a tender offer worth about 730 million euros
(some 100 billion yen) to create a global leader in the printing industry.
In what will be Canon's largest merger and acquisition, the Japanese company
said it will buy all outstanding shares in Oce for 8.60 euros per share.
The move by the Japanese maker of digital cameras and printers comes as the
global economic downturn has dented sales of office machines, including ink-jet
printers.
Canon plans to launch the friendly takeover bid between January and March with
the aim of making the Dutch company a wholly owned subsidiary.
By putting Oce under its wing, Canon officials said the Japanese company aims
to capitalize on the Netherlands-based firm's strong sales clout in Europe and
the United States.
As Canon specializes in small printers for office use and Oce is strong in the
area of large, high-speed printers, Canon is aiming to raise its global
competitiveness by building up its product lineup, the officials said.
Canon President Tsuneji Uchida said at a news conference in Tokyo he sees his
company's partnership with Oce as a ''marriage'' with a good partner that will
yield benefits in their printer business.
''The products we sell and our targeted customer bases are different, so we
believe that by teaming up with Oce, we can come up with a full product lineup
and expand our market, and are aiming to be No. 1 in the printing industry,''
Uchida said.
Anton Schaaf, Oce's chief technology officer and chief operating officer, told
the same news conference, ''This collaboration will significantly strengthen
our distribution power by combining our sales networks in Asia, the United
States and Europe.''
Oce's sales network has spread to more than 30 countries, mainly in Europe and
the United States, with about 40 percent of its revenues coming from the United
States. Founded in 1877, Oce's 2008 revenues were roughly 2.9 billion euros.
Uchida did not give numerical targets for profit or sales following the
takeover, simply reiterating that the two companies' products and services are
''complementary.''
He said it will take about three years for the synergy effect of their
integration to be translated into revenues.
Canon has reported its group net profit and sales for the last business year to
December fell 36.7 percent to 309.15 billion yen and 8.6 percent to 4.09
trillion yen, respectively, marking their first drops in nine years partly due
to falling demand amid the global economic slowdown.
==Kyodo
