P.M. BRIEFING : Xerox Plan Will Boost Earnings
Times Wire Services
STAMFORD, Conn. —
Xerox Corp. announced today that it will restructure its South Pacific operations, resulting in an expected 40-cent to 50-cent per share fourth-quarter boost.
Under the plan, Fuji Xerox Co. Ltd. will take management responsibilities and ownership of Rank Xerox Limited’s operations in Australia, Malaysia, New Zealand and Singapore.
Rank Xerox, based in Britain, is a joint venture between Xerox and the Rank Organization PLC. It manufactures and markets almost all Xerox business products and systems in 80 foreign countries.
Tokyo-based Fuji Xerox, a joint venture between Rank Xerox and Fuji Photo Film Co. Ltd., manufactures and markets equipment in the Far East and Southeast Asia.
