TOSHIBA BUSINESS SOLUTIONS FURTHER ADVANCES STRATEGIC GROWTH PLAN WITH ACQUISITION OF McRAE OFFICE SOLUTIONS
Award-Winning North Carolina Copier Dealer To Join Connected Office Products, Inc. in the Toshiba Business Solutions Network
IRVINE , California ( Oct 06, 2004 ) :
Toshiba Business Solutions (TBS) today announced it has acquired McRae Office Solutions, a division of McRae Industries, Inc. (MRI.A and MRI.B on the American Stock Exchange). McRae Office Solutions, a leading independent office equipment dealer based in Mount Gilead, NC, will be combined with Connected Office Products, Inc. (COPI) over time to build a dominant and influential sales organization in the Carolinas.
Already an award-winning distributor of copiers, network printers, facsimiles and multifunction products from Toshiba America Business Solutions, Inc. (TABS), McRae Office Solutions will continue to sell and service Toshiba products to customers throughout the North Carolina area. Toshiba Business Solutions will only acquire the Office Solutions division of McRae Industries with McRae continuing operations in their other business areas.
McRae Office Solutions has earned TABS' coveted "ProMaster's Service Award" nine out of the last 10 years for exceptional customer service and was named TABS' Top Achiever in Total Purchases for the Southern Region in 2003. McRae Office Solutions will become part of Toshiba's TBS division, a network of wholly owned Toshiba subsidiaries.
"McRae Office Solutions is proud to join Toshiba. As a result of our new affiliation, we are solidifying a partnership that started more than 20 years ago when McRae Office Solutions became the first and only Toshiba dealer in North Carolina. This affiliation will benefit our employees, clients, and the community at large," said Harold Smith, general manager, McRae Office Solutions.
McRae Office Solutions has been in business for 20 years and has served as a distributor of Toshiba's office products from the beginning. Harold Smith will remain with the company, which will be combined with TBS' existing operations in the Carolinas.
The acquisition of McRae Office Solutions marks Toshiba Business Solutions' 30th acquisition since creating its business expansion plan, as part of its overall objective to bolster the TBS operation by acquiring large independent dealers in the top U.S. markets. TBS also recently acquired Allied Office Solutions in Kansas City, Mo., Stringer Business Systems and Wagers Business Systems, both in St. Paul, Minn., and Business Methods in Rochester, N.Y.
"We're thrilled to have McRae Office Solutions join the Toshiba Business Solutions team," said Rick Taylor, senior vice president, Sales, Marketing, Business Operations, TABS. "We've worked very closely with this dealership over the past 20 years and have experienced tremendous growth in the North Carolina market through our partnership."
About McRae Office Solutions
McRae Industries, Inc. was founded in 1959 as a manufacturer and distributor of children's shoes. Today, McRae Industries has grown into a widely diversified company involved in manufacturing, sales and distribution of military footwear, western and work boots; sales and distribution of bar code reading and printing devices; and sales and servicing of copiers and facsimile machines. The Company also operates other smaller businesses. McRae Industries, Inc. has offices throughout the United States. Its corporate headquarters is located in Mount Gilead, North Carolina.
About Toshiba America Business Solutions
Toshiba America Business Solutions, Inc. (TABS) manages product planning, marketing, sales, service support and distribution of copiers, facsimiles, multifunction printing products, network controllers and toner products throughout the United States, Latin America and the Caribbean. Headquartered in Irvine, Calif., TABS comprises three divisions: the Electronic Imaging Division, Toner Products Division and Document Solutions Engineering Division; and a subsidiary corporation: Toshiba Business Solutions (TBS), which operates a network of wholly owned subsidiaries.
Named the most favored manufacturer in seven of the past eight years by the Business Technology Association (BTA), Toshiba’s entire product line, customer support and marketing distribution policies are markers for the industry. Among the many other awards garnered in recent years, Toshiba was named the "Copier Manufacturer of the Year" by the Marketing Research Consultants (MRC) in 2004, 2002, 2001, 1998 and 1997, was named to the CIO 100 for being one of the top 100 "agile" companies in the world in 2004, and received the CIO Web Business award for its leading edge intranet site in 2000, 1999 and 1998.
TABS is an independent operating company of Toshiba Corporation, the seventh largest electronics/electrical equipment company and the world's 62nd largest company in terms of sales. Ranked by Fortune magazine as the 8th Most Admired Electronics Company in America and 9th Most Admired Electronics Company in the World, Toshiba Corporation is a world leader in high technology products with more than 300 major subsidiaries and affiliates worldwide. Fiscal year revenue in 2003 was approximately $53 billion.
For more information on Toshiba copier, facsimile, multifunction printing products, network controllers or toner products, or for a dealer in your area, call 1 800 GO TOSHIBA or visit the TABS Web site at www.copiers.toshiba.com.