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Japanese auto firm Ricoh plans to merge two Indian arms
By siliconindia staff writer
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Thursday, 26 August 2004, 19:30 IST
NEW DELHI, AUG 24: Japanese automation major Ricoh has decided to merge two of its Indian subsidiaries, Gestetner India and Ricoh India into a single entity.
"Under the proposed scheme of arrangement, Gestetner India would be merged with Ricoh India," the company has said.
The feasibility of the proposed merger has already been approved by their respective boards of directors.
The objective of the merger is to maximise operational efficiencies and leverage the combined entitys resources in marketing, distribution and service to attain a leadership position in India, it added. The combined turnover of the two subsidiaries is Rs 150 crore and claims to have a market share of 22 per cent in the digital multifuntional products. the objective of Ricoh is "to achieve the number one position by offering technologically superior products, services and document solutions to its customers in India and to enlarge its customer base in the Indian market," the statement said.
The merger is being done keeping synergies in mind. While the customers are expected to benefit with a wider national coverage and reach the combined entity will be able to leverage human resources, knowledge, experience and best practices accruing out of each other, the company said.