Scandal Case No Negative Effect on Fuji Xerox (China)

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Last updated at: (Beijing Time) Tuesday, July 02, 2002

Scandal Case No Negative Effect on Fuji Xerox (China)

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Regarding the accounting scandal of the US Xerox, persons from the Fuji Xerox (China) don't think that it will produce negative effect on its business since the Xerox (China)'s business has been transferred to the company two year ago.

The Fuji Xerox input US$ 550 million to purchase Xerox (China) in December, 2000. The assets transferred to the Fuji Xerox (China), according to agreements, include the Xerox (China)'s production, sales, services and the proprietary rights of the Xerox (China) and the Xerox (Hong Kong).

Actually the US Xerox had already involved operation problems at that time. Transferring Xerox (China) was part of its revival plan that also included cutting daily expenses and adjusting the company's key business.

Chairman and CEO of the Fuji Xerox said the plan, which intends to obtain US$ 2 to 4 billion from the transfer, is carrying out smoothly. The first section of the transfer of the Xerox (China) has been completed ahead of schedule and the company has fulfilled the goal of reducing the daily expenditure of US$ 1 billion.

By PD Online Staff Yang Ruoqian

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