DICOM Group plc: SGA Division.BASINGSTOKE, England -- DICOM (medical, standard) DICOM - (From Digital Imaging and COmmunications in Medicine) A standard developed by ACR-NEMA (American College of Radiology - National Electrical Manufacturer's Association) for communications between medical imaging devices. Group plc (LSE LSE - Language Sensitive Editor :DCM DCM abbr. Distinguished Conduct Medal ) ("DICOM Group"), a global leader of Information Capture and Communications solutions, announces that it will discontinue its Samsung General Agency ("SGA SGA abbr. small for gestational age Small-for-gestational-age (SGA) A term used to describe newborns who are below the 10th percentile in height or weight for their estimated gestational age. ") Division with effect from the end of May 2006. The Group's SGA Division, operating in Switzerland only, focuses on multimedia visualisation products for the IT, Point of Sale and Entertainment markets. It operates as sole distributor for Samsung's high performance flat screen display products. During the past year, DICOM Group has been reviewing its strategic options relating to the SGA Division as it wished to focus more closely on its core Information Capture and Communication business. During that time, DICOM Group has held discussions with Samsung about the most appropriate and mutually beneficial options for the SGA business, including the possibility of a sale or MBO MBO See: Management buyout . In recent days these discussions have been accelerated and Samsung has concluded that it is not in their interest to entertain any of the proposed solutions. As a result, it was mutually decided that the sole distribution arrangement should terminate and DICOM Group intends to close the SGA Division with effect from the end of May 2006. "We have not taken this decision lightly, given the historic contribution made to DICOM Group by SGA and its employees over the years. The strategic direction of DICOM Group is clear, however, and we must focus our resources and attention on the Information Capture and Communication market, where we enjoy an unrivalled market position and see significant opportunities for growth", commented Rob Klatell, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of DICOM Group. SGA's 33 employees will in part be transferred to other DICOM Group companies or made redundant. These redundancies as well as lease commitment and fixed asset write downs will lead to an exceptional charge of up to GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1m which will be reserved in the profit and loss accounts in the third quarter of the current financial year. SGA contributed GBP 39.1m in turnover and GBP 1.3m in operating profits during the year ended 30 June 2005, representing 22% of Group turnover and 9% of Group operating profits. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion