Oc is restructuring into two business units, Digital Document Systems and Wide Format.
Digital Document Systems has been formed by merging its Document Printing and Production Printing divisions. It will be split into four business groups commercial print, corporate print, software & professional services and facilities services.
As part of the restructuring Oc will exit the market for low-volume office printers and copiers. The move will result in reduction of the workforce by 4.5% worldwide (PrintWeek, 14 December).
As anticipated its 2001 net income was down 31% to 65m (E105m) on revenues of 2bn. The company does not expect results to pick up until the second half of this year.
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