Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Danka Sells Central, South American Business Units to Toshiba
Sep 26, 2005
 Printable format
 Email this Article
 Search

Business appliance maker Danka Business Systems PLC announced the sale of its subsidiaries operating in Central and South America to Toshiba America Business Solutions (TABS), Inc., for U.S. $10 million in cash. The transaction encompasses Danka's operations in Puerto Rico, Mexico, Panama, Brazil, Venezuela, and Chile.

"The sale of these businesses builds on earlier dispositions and culminates our efforts to narrow the scope of the Americas Group to our largest and, historically, most profitable entity, the U.S.," said Danka CEO Todd Mavis. "This development will simplify our management and compliance requirements, enabling us to further streamline operations and focus our time and resources on the significant opportunities related to our high-value Managed Print Services (MPS) strategy. We plan to continue exploring additional ways around the world to concentrate our efforts on MPS in high-opportunity areas."

The six subsidiaries sold to Toshiba include imaging systems (including copiers and multi-functional peripheral devices) as well as related services and supplies. Combined, the subsidiaries employ about 500 people and contributed revenue of $30.4 million and operating profit of $1.6 million in Danka's fiscal year ended on March 31, 2005. The Central and South American Units' net assets were $21.6 million as of March 31, 2005. Net proceeds from the sale will be used for working capital and reinvestment purposes.

"This transaction gives us a stronger direct presence in Latin America, which we believe provides tremendous market opportunities," said TABS incoming President and CEO Rick Taylor. "We are pleased to have concluded this transaction with Danka, which remains one of our premier business partners."

Back to Daily News

 

Daily News

...........................................................

Aug 29, 2014: Adaptive Frequency Drive Increases Trane Chiller Efficiency

Aug 29, 2014: Vitamix President Receives Entrepreneur of the Year Award

Aug 28, 2014: LG Heat Pump Clothes Dryer Earns Emerging Technology Award

Aug 28, 2014: Early Snowthrower Demand Boosts Toro Sales

Aug 27, 2014: Sustainability Standard Launched for Household Portable and Floor Care Appliances

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows