ALCO STANDARD CORPORATION ACQUIRES ARID IMAGE SYSTEMS, INC.
VALLEY FORGE, Pa., Nov. 11 /PRNewswire/ -- Alco Standard Corporation (NYSE: ASN) announced the acquisition of assets of Arid Image Systems, Inc. of Colton, Calif. The company distributes Panasonic copier and facsimile equipment. Arid will become a market extension of Edgemont Sales Company, Inc., under the direction of Tim Duggan, president, and will operate as a branch of Edgemont. Combined annual revenues for Arid Image Systems and Edgemont are projected to exceed $16 million. Alco Office Products, headquartered in Valley Forge, is the largest network of independent copier and office equipment dealers in the world. Fiscal 1994 revenues will approach $2 billion. Alco Standard Corporation, also headquartered in Valley Forge, is a publicly owned distribution and services company with annualized revenues approaching $8 billion. /delval/ -0- 11/11/93 /CONTACT: Martha A. Buckley, director, investor relations, of Alco Standard, 215-296-8000/ (ASN)
CO: Alco Standard Corporation; Arid Image Systems, Inc. ST: Pennsylvania, California IN: PAP SU: TNM
JM-MJ -- PH015 -- 3221 11/11/93 12:18 EST
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|Date:||Nov 11, 1993|
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