QMS, Inc. announced that its shareholders have approved the change of its corporate name to Minolta-QMS, Inc. The new identity reflects the company`s recently completed global convergence with Minolta Co., Ltd. In addition to the name change, the company`s ticker symbol on the NYSE will change as of June 1, 2000. The new ticker symbol will be MQC.
"This name change and convergence marks the beginning of a new era for Minolta-QMS as we position the company as a major competitor in the global computer printer marketplace," Edward E. Lucente, Minolta-QMS President and Chief Executive Officer said in making the announcement. "The new Minolta-QMS organization will leverage the synergies and strengths of both companies as a global brand in this rapidly growing industry," said Mr. Lucente.
The decision to change the Company`s corporate identity is part of an overall business strategy and vision that has been evolving throughout the past year. This includes coordinating both organizations sales and marketing efforts into a unified, co-branded product offering, allowing the combined organization to expand its positions in both the U.S., European and Asia-Pacific markets. In addition to its traditional reseller channel, the Company will also be using the Minolta copier sales force and copier dealers to market its products. These new distribution channels along with leveraging the Minolta brand name will position the Company as a leading industry player.
"We recognized that it was difficult to grow a company that was under-capitalized," said Mr. Lucente. "So, in 1999 we announced our convergence with Minolta and set several milestones for ourselves in this process. We completed these on schedule, with convergence in the Western Hemisphere completed in November. Now with worldwide convergence accomplished, we are well positioned to capture a growing share of the robust global printer market and continue to believe that we will achieve our year 2000 revenue and profit goals."
"During the fourth quarter of 1999, we introduced the first co-branded product, the magicolor 6100, under the Minolta-QMS banner. We also recently launched the first Minolta-QMS ad campaign," continued Mr. Lucente. "Our new name is a declaration of the strength of this new organization, linking us with Minolta`s strong brand presence and heritage, but also projecting this new company towards a dynamic future."
Share
Minolta-QMS, Inc
Minolta QMS, a member of the Minolta Group, is a leading developer and manufacturer of high-performance color and monochrome document printing solutions for office automation, electronic publishing, graphic design, and advanced imaging applications. QMS is headquartered in Mobile, Alabama and distributes products through a global network of reseller and distribution partners. Founded in 1977, QMS, Inc. is traded on the New York Stock Exchange under the symbol AQM. QMS Internet Address http://www.qms.com
Inc Minolta-QMS develops and manufactures document-imaging solutions for the world`s most demanding applications. These innovative products and services include color and monochrome print systems, complete imaging solutions, and a host of adaptable technologies that seamlessly bridge the gaps that exist in virtually all enterprise computing environments. QMS and the QMS logo are registered trademarks of Minolta-QMS. The Minolta logo is a trademark of Minolta Co., Ltd.