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Océ prepares to restructure

Dec 17, 2001 12:00 AM

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Océ N.V. (Venlo, Netherlands) is preparing to restructure its organization to align better with its corporate strategy, which focuses on the ongoing digitalization of its markets.

To realize its goals with regard to income and revenue growth, Océ intends to invest in growth markets and withdraw from underperforming markets. A provision amounting to euro 125 million will be made to cover both redundancy costs and the write-off of assets. Worldwide, a reduction of 900 to 1,100 employees is expected, from a total workforce of more than 22,000 people.

Revenues for 2001 were equal to those of the 2000 financial year, according to the executive board. Net income before extraordinary charges for 2001 is expected to be about 30 percent lower than in 2000.

The executive board will announce further details about the above restructuring operation on Jan. 9, 2002, as well as the preliminary results for the 2001 financial year, which closed on November 30.