TOSHIBA BUSINESS SOLUTIONS CONTINUES ITS GROWTH STRATEGY WITH ACQUISITION OF OFFICE EQUIPMENT COMPANY INC. BY ITS LOCAL SUBSIDIARY, BUSINESS METHODS INC., DOING BUSINESS AS TOSHIBA BUSINESS SOLUTIONS-NEW YORK
TBS’ Latest Dealer Acquisition Greatly Increases Toshiba’s Presence in Key New York Market
IRVINE , California ( Nov 21, 2005 ) :
Toshiba Business Solutions (TBS) today announced the acquisition of Office Equipment Company Inc. (OEC), by its local subsidiary, Business Methods Inc., dba Toshiba Business Solutions–New York. OEC is a leading office equipment and service supplier headquartered in Rochester, N.Y. Effective immediately, OEC will be combined with TBS-New York, which also is headquartered in Rochester, N.Y. TBS-New York is a part of Toshiba America Business Solutions Inc.’s (TABS) TBS subsidiary, a network of wholly owned office equipment dealers.
“The acquisition of OEC is a significant accomplishment for Toshiba,” said Wayne Wilkinson, vice president / general manager, TBS. “Combining OEC’s large customer base with the existing reach of TBS-New York will strengthen our market leadership position in the area and contribute to Toshiba’s overall strategic growth plan.”
TBS-New York is led by President Steven Sauer. OEC will contribute to considerably increasing Toshiba’s market share throughout Rochester. With TBS-New York’s current market share of more than 20 percent of the office equipment market, the acquisition of OEC will enable Toshiba to capture a significantly larger portion of the Rochester market and reinforce its position as the market leader in providing quality office equipment and service offerings.
“OEC has an excellent reputation within the Rochester community,” said Sauer. “The company’s solid business practices and exceptional customer support are a perfect fit with TBS-New York. We look forward to forging new relationships for the mutual benefit of our customers and our business.”
In business since 1959, prior to the acquisition OEC sold two competitive brands of office equipment products. The company employs 42 people working out of one headquarters office and serving six counties throughout Rochester.
“We are proud to join forces with the Toshiba organization,” said Stu Dunphrey, former owner of OEC. “Toshiba is recognized for developing innovative products and solutions that enhance its customers’ work environment and contribute to the bottom line. We are thrilled to be able to provide our customers and employees with the support and resources from such a well respected industry leader.”
This represents TBS’ 39th dealer acquisition since the creation of the company’s business expansion plan, supporting the overall objective of bolstering the TBS operation by acquiring independent dealers in the top U.S. markets. The acquisition of OEC is Toshiba’s seventh acquisition in the 2005 calendar year. Other Toshiba acquisitions in 2005 include Danka Latin America, Candle Business Systems Inc., Office Systems Inc., Collier Business Equipment, Stringer Business Systems – Oakland, and FKM Copier Products.
About Toshiba America Business Solutions Inc.
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, Mexico, Latin America, and the Caribbean. Headquartered in Irvine, Calif., TABS has four divisions: the Electronic Imaging Division; the Toner Products Division; the Document Solutions Engineering Division; and TOPAC U.S.A., Inc., dba Toshiba Business Solutions (TBS), a wholly owned subsidiary corporation of TABS, that operates a network of wholly owned office equipment dealers throughout the United States.
Named the most favored manufacturer seven times 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” six times by the Marketing Research Consultants (MRC), and has twice been named to the CIO 100 for being among the top 100 “bold” (2005) and “agile” (2004) companies in the world.
TABS is an independent operating company of Toshiba Corporation, the sixth largest electronics/electrical equipment company and the world's 72nd largest company in terms of sales. Ranked by Fortune magazine as the 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 2004 was approximately $55 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.