CE Computer Equipment AG Announces Measures to Ensure Successful Business in the U.S. By Re-organizing TREEV, Inc. and Expanding Sales Channels.
BIELEFELD, Germany--(BUSINESS WIRE)--March 6, 2001
CE Computer Equipment AG, (NASDAQ:CCEQ), announced today that it has taken measures for the swift and successful opening up of the U.S. market. As a consequence, TREEV, Inc., CE's wholly owned U.S. subsidiary, has been re-organized to achieve profitability in the immediate quarters.
Since the merger of TREEV into CE, Gerd Buhrig, member of the board of management of CE, has been responsible for the U.S. business of the company. At the same time, TREEV has been strategically repositioned in the growth market of content management. In the course of this refocusing, CE has taken specific cost-cutting measures and reduced TREEV's work force by approximately 15%.
In order to quickly penetrate the markets that are targeted by CE in the U.S., CE will also seek to expand its strategic partnerships with U.S. market leaders including Siebel Systems and SAP as well as enter into new strategic partnerships with other leaders.
As a result of these strategic measures, CE anticipates TREEV will increase its revenues in the current quarter. With about 2,000 customers and a market penetration of almost 30% in the banking segment, TREEV ranks among the leading providers to the banking community in the North American marketplace.
TREEV enables customers to extend their mission-critical application investments by applying information content to business processes over the Web. TREEV's patented technologies are exemplified by TREEV 2000(TM), its standards-based component architecture consisting of eTREEV(TM) (Web portal), DocuTREEV(TM) (document management), DataTREEV(TM) (ERM), AutoTREEV(TM) (workflow) and OmniTREEV(TM) (content management).
Headquartered in Herndon, Virginia, TREEV employs over 200 technology and services experts with over 2,000 customer installations worldwide. For additional information about TREEV's products and services, please call 800/254-0994 to 703/478-2260, or visit TREEV's Web site at www.treev.com.
About CE Computer Equipment AG
CE Computer Equipment AG, Bielefeld (Germany), is a leading European producer of systems for integrated document management and archiving. CE has been active as a systems integrator in the German market for document management and archiving systems since 1984. Since 1995, CE has developed into a supplier of standard software products for integrated document and output management systems. For more information on CE Computer Equipment AG, please visit CE Computer Equipment AG's Web site at http://www.ce-ag.com.
This release contains forward-looking statements. All statements other than statements of fact are, or may be deemed to be, forward-looking statements. These forward-looking statements are not based on facts, but rather reflect our current expectations concerning future results and events, and generally may be identified by the use of forward-looking words and phrases such as "planning", "expected", "anticipates", "estimate", "should" as well as similar words and phrases.
CE Computer Equipment AG takes no obligation to update or correct forward-looking statements. All statements are subject to various risks and uncertainties as a result of which the actual results could differ materially from the expected results. The forward-looking statements are made only as of the date of this release.
CONTACT: TREEV, Inc.
SVP, Strategic Planning
North American Investor Relations Contact:
Julia Bowen, 703/904-3109
CE Computer Equipment Aktiengesellschaft
European Investor Relations Contact:
Regine Kaufmann, +49 (0)521/93 18-288
KEYWORD: NEW YORK GERMANY INTERNATIONAL EUROPE
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS E-COMMERCE INTERNET TELECOMMUNICATIONS MARKETING AGREEMENTS