January 21, 2003 -
Toshiba America Business Solutions Acquires Hotz Business Solutions
Toshiba Reinforces Strategic Growth Plan With
Purchase of Leading Kansas City Office Equipment Dealer
IRVINE, Calif., (January 20, 2003) - Toshiba America Business
Solutions
(TABS) today announced that it has acquired Hotz Business Solutions (HBS)
of Kansas City, Mo., a leading independent office equipment dealer in the
Kansas City market with five locations throughout the states of Missouri
and Kansas.
HBS, which currently does not sell Toshiba products and services, will
become part of Toshiba's TOPAC division, a network of acquired Toshiba
equipment dealers. In business for more than 66 years, HBS is the 15th
acquisition by TABS of a competitive line dealership to date. Former HBS
owner and president, R.D. Kerley, will remain within the company to
oversee business expansion, marketing and day-to-day operations.
In February 2002, TABS also acquired Connected Office Products, Inc.
(COPI) as a part of its plan to strengthen the TOPAC operation by
targeting large and independent competitive dealers in the top U.S.
markets. With the acquisition of HBS, TABS continues to successfully
advance its aggressive growth strategy through TOPAC, with revenues
expected to nearly triple in 2003.
"TABS is achieving tremendous growth through TOPAC despite the economic
downturn and its significant impact on the industry," said Rick Taylor,
senior vice president, Sales, Marketing, Business Operations, TABS. "The
addition of Hotz Business Solutions to the TOPAC network represents
another key milestone for TABS in its strategic growth and market
leadership initiatives. The company's solid heritage and reputation in
its local area, strong management team and aggressive business objectives
align with our TOPAC goals and will contribute greatly to our ongoing
success."
Since its inception seven years ago, TOPAC has acquired 15 independent
dealers. There are currently nine existing subsidiaries in the network
with locations across the United States. The nine subsidiaries have more
than 50 offices with headquarters in Las Vegas, Nev.; Denver, Colo.;
Deerfield Beach, Fla.; Atlanta, Ga.; Louisville, Ky.; Detroit, Mich.;
Pittsburgh, Pa.; and Boston/Wilmington, Mass., and now Kansas City, Mo.
About HBS
Established in 1936, HBS specializes in the sales and service of copier,
facsimile, printer products and wide format engineering systems. HBS has
been named "Elite Office Dealer" six times, garnering three consecutive
designations in 1999, 2000 and 2001. In business for more than 66 years,
HBS offices include headquarters in Kansas City, Mo. with additional
locations in St. Joseph and Warrensburg, Mo., and Lawrence and Ottawa,
Kan.
About Toshiba America Business Solutions
Toshiba America Business Solutions, Inc. (TABS), manages product planning,
marketing, sales, service support and distribution of copiers, facsimiles,
multifunction printing products, network controllers and toner products
throughout the United States, Latin America and the Caribbean.
Headquartered in Irvine, Calif., TABS comprises four divisions: the
Electronic Imaging Division, Toner Products Division, Document Solutions
Engineering Division and TOPAC, a subsidiary which operates a network of
office equipment dealers.
Named the most favored manufacturer in seven of the past eight years by
the Business Technology Association (BTA), Toshiba's entire product line,
customer support and marketing distribution policies are a marker for the
industry. Among the many other awards garnered in recent years, Toshiba
was named the "Copier Manufacturer of the Year" by the Marketing Research
Consultants (MRC) in 1997, 1998, 2001 and 2002 and received the CIO Web
Business award for its leading edge intranet site in 1998, 1999 and 2000.
TABS is an independent operating company of Toshiba Corp., the fifth
largest electronics/electrical equipment company and the world's 77th
largest company in terms of sales. Toshiba Corporation is a world leader
in high technology products with more than 300 major subsidiaries and
affiliates worldwide. Fiscal year revenue in 2001 was approximately $41
billion.
For more information on Toshiba copier, facsimile and printer products, or
for a local dealer, call 1-800-GO-TOSHIBA or visit the TABS Web site at
either www.copier.toshiba.com or www.fax.toshiba.com.
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