XEROX EYES CONTROLLING STAKE IN MODI SOFTWARE

Article Abstract:

Xerox Corporation of USA plans to raise its stake in Modi Xerox Software Services from 50 percent to more than 70 percent. Xerox Corporation is already negotiating with BK Modi for raising its stake. The board of directors of Modi Xerox Software Services is likely to consider the proposal at its meeting in the latter part of January 1999. The raising of the stake would help Xerox Corporation to negotiate its stake in Modi Xerox Ltd and Modi Xerox Financial Services. Now, Xerox Corporation holds 5 million shares in Modi Xerox Software Services. (ag/kvr)

XRX, Modi Xerox (India) Ltd.

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XEROX CORP TO TAKE FULL CONTROL OF INDIAN JV

Article Abstract:

Modi-Xerox will soon come under full management control of Xerox Corporation of the US, which will also play a dominant role in the day-to-day functioning of the company. Xerox Corporation has offered to acquire a substantial stake in Modi-Xerox from the BK Modi group. Sources say that the promoters are also looking at the possibility of coming out with a public offer to buy shares from the secondary market and finally delisting Modi-Xerox from the stock exchanges. (khr)

Comment:

Modi-Xerox will soon come under full management control of Xerox Corporation of the US, which will also play a dominant role in the day-to-day functioning of the company.

General services, Modi Xerox India Ltd.

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MODI XEROX PLANS TO REACH $1-BN MARK BY 2002

Article Abstract:

Modi Xerox has projected a turnover of $1 billion by 2002 AD with a major contribution coming from Xerox Printing Systems, one of its 3 recently launched divisions. Modi Xerox and its parent, Xerox Corporation of USA, are thinking of introducing all their products simultaneously in India and USA. Modi Xerox has started 3 divisions, called Xerox Document Centres, Xerox Printing Systems and Channels. (khr)

Comment:

Projects a turnover of $1 bil by the year 2002 w/ major contribution coming from Xerox Printing Systems

Sales, profits & dividends, Article, Modi Xerox

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