Financial Daily from THE HINDU group of publications
Friday, Jan 30, 2004
Financial Daily from THE HINDU group of publications Friday, Jan 30, 2004 |
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Info-Tech
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Hardware Xerox to roll out 20 new products Our Bureau
New Delhi , Jan. 29 XEROX Corporation, manufacturer of copiers and printers, has said it expects business in the country to grow significantly this year as it plans to introduce more products and strengthen marketing operations. "We are launching 20 new products in India this year," said Mr Marcus Childs, Managing Director of Xerox Modicorp Ltd, the company's joint venture in the country. He said in 2003, Xerox Modicorp achieved a 13 per cent growth in revenues to $ 98 million. Revenues from equipment sales were 41 per cent while the non-equipment sales accounted for 59 per cent. Asked about the troubles at Xerox Modicorp after the parent company said in 2002 that its Indian subsidiary had made `improper payments' to Government officials for securing high value orders, Mr Childs said discussions and negotiations were on with the B.K Modi group, but did not disclose more details.
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