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IBM ANNOUNCES INTENT TO FORM SUBSIDIARY FOR ADVANCED FUNCTION PRINTING

IBM ANNOUNCES INTENT TO FORM SUBSIDIARY FOR ADVANCED FUNCTION PRINTING
 ARMONK, N.Y., Dec. 5 /PRNewswire/ -- IBM (NYSE: IBM) Vice President James T. Vanderslice today announced details of Pennant Systems, the new company formed to increase IBM's focus on the advanced function printing business worldwide. IBM intends to make this organization a wholly owned subsidiary, and this is the first step in that process. Dr. Vanderslice has been named president of the new company.
 Pennant Systems will develop and manufacture IBM's worldwide printers and printing solutions, including advanced function printers, software and advanced printing services. The new company will have dedicated marketing specialists who will work with IBM's geographic marketing and services organizations in the U.S., Canada, Latin America and the Far East. In Europe, a separate organization will perform marketing and service activities.
 The new company will have temporary headquarters in Norwalk, Conn., with development operations in Tucson, Ariz., and Boulder, Colo.; and development and manufacturing operations in Endicott, N.Y. It will provide functional direction to printer development and manufacturing in Jarfalla, Sweden. Employees of the new company will remain employees of IBM.
 "This new structure allows us to focus on the best possible solutions for our current and future printer customers around the world," said Vanderslice. "Estimates suggest the worldwide market opportunity for advanced function


printing solutions approaches $30 billion, and we now have the impetus and organization to become much more competitive in that market."
 In Europe, IBM country organizations will form Pennant Systems business units with dedicated sales forces. These business units will receive business guidance from a newly formed Pennant Systems organization, which will be headed by Robert E. Dies (acting). Dies, who is directeur general des produits and des systemes for IBM Europe, will be the EOC contact executive for the new Pennant Systems organization.
 Vanderslice also announced the appointment of the following Pennant Systems executives reporting to him: J.P. (Phil) Dellasega, vice president, finance; Stephen W. Fitzgerald, vice president, human resources; Chad L. Copenhaver, vice president ad general counsel; Ron L. Kilpatrick, vice president, marketing, the Americas; James N. Fox, vice president, service; Jim E. Coraza, general manager, midrange printing; and John Woodward, general manager, high-end printing.
 -0- 12/5/91
 /CONTACT: Jim Ruderman of IBM, 914-765-6565, or after Dec. 5: 914-697-6629/
 (IBM) CO: International Business Machines Corporation ST: New York IN: CPR SU: PDT TS -- NY014 -- 9508 12/05/91 09:07 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Date:Dec 5, 1991
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