Global Graphics chairman and chief executive Johan Volckaerts said there was a "steep decline" in demand for equipment from OEM customers in the last financial year, and that the group did not forecast any significant improvement in 2002.
"The Hardware division's ability to contribute to earnings per share remains a substantial financial risk," he added. "Consequently we we have taken the option to sell the entire Hardware division worldwide to eliminate that risk and any further potential loss to the company."
The deal is expected to be concluded before the end of April.
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"Sorry to read this, a big name to go down, hopefully a lot of the £1.8M was insured. We are recruiting operational staff & currently in-talks to assist the clients with immediate requirements."
"£1.8m !! Very big numbers indeed."
"Now black really is white. Ditching a product line with all its consequences for customers is now an award winning move. Priceless!"
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