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OCI N.V. — Capital/Financing Update 2005
Nov 4, 2005
3869_iss_2005-11-04_095cef5b-decd-47ff-8b80-54233394d175.pdf
Capital/Financing Update
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Océ Press release
Océ N.V.
Océ to reduce costs to strengthen profit growth
Venlo, the Netherlands, November 4, 2005 - Océ N.V. the leading international manufacturer and provider of digital document management technology and services, today announced that the company intends to deploy a cost reduction programme in Europe to further strengthen its profit growth.
In line with this approach, Océ earlier announced a partial shift of production to Asia and central Europe.
Sales of new printing systems are increasing and the trend towards recurring revenues from service contracts is developing positively. Further cost reductions are necessary to achieve the strategic growth and profit objectives disclosed earlier.
It is anticipated that Océ will cut 500 jobs in Europe, including 150 at corporate headquarters in Venlo, the Netherlands. This total excludes staff reduction as a result of the shift of production capacity announced earlier. Océ will provide the employees involved with as much assistance as possible in obtaining employment elsewhere.
Besides staff reduction, additional savings will be part of this programme.
The works council and the labour unions have been informed.
November 4, 2005
Océ N.V.
Venlo, the Netherlands
About Océ
Océ is one of the world's leading suppliers of products and services for professional printing and document management, from document creation and design through to distribution and archiving. Thanks to their high quality, productivity and durability, Océ focuses on professional user environments, particularly on those in which high document volumes are processed.
Océ's products and services are offered in 80 countries of which 30 direct via the company's own sales and service organisations.
In 2004 Océ achieved total revenues of € 2.6 billion and has around 21.500 employees worldwide. For more information on Océ visit www.Oce.com.
For further information:
Investor Relations: Pierre Vincent Senior Vice President Investor Relations Venlo, the Netherlands Telephone +31 77 359 2240 E-mail [email protected]
Press: Luuk Bruning Corporate Communications Venlo, the Netherlands Telephone +31 77 359 4580
Océ N.V.
P.O. Box 101, 5900 MA Venlo, the Netherlands
Telephone # 31 77 359 2240
Océ investor information on Internet: http://investor.oce.com
Océ