Armor sells Belgian subsidiaries

The Armor Group announces the sale of its Belgium subsidiaries Arlex SA and Arlex International SA to the management. These subsidiaries distribute cartridges for printing (Ink Jet, Laser and fax). They achieved a turnover of 19 million euros in 2006.

This divestment is a new step in the Armor Office Printing activity recovery.  It is a strategic decision: “The Arlex subsidiaries directly sold to corporate end users, whereas the Armor strategy consists of building close and long term partnerships with office supplies retailers and mass distributors. This move is in accordance with the Armor commercial strategy”, says Hubert de Boisredon, Armor Group Chief Executive Officer.

Nevertheless, Armor will remain in the Benelux market through the creation of “Armor Office Printing Benelux”. Through partnerships with office supplies retailers and mass distributors, this new subsidiary will sell Armor Laser and Ink Jet compatible cartridges indirectly in Belgium, the Netherlands and Luxemburg.

François Desorgher, specialist in Armor compatible printing products, will supervise Armor Office Printing Benelux operations.