Xerox Seals $310 Million Deal With Kinko's; Includes Digital Color, Black-and-white Technology
ROCHESTER, N.Y.--(BUSINESS WIRE)--Nov. 13, 2000--
Two Agreements Solidify Xerox as Primary Supplier
for Kinko's Network of Stores
Xerox Corporation (NYSE: XRX) today announced agreements, totaling $310 million, to provide Kinko's Inc. with more than 2,000 of the latest Xerox digital color products, high-speed digital printers, and black- and-white digital multifunction machines.
The two contracts are among the largest ever for Xerox and secure the company's position as Kinko's primary supplier of color and monochrome high-end printing and publishing equipment for 1,000 Kinko's locations across the United States and Canada.
"Kinko's belief in the quality and reliability of Xerox products, solutions and services has never wavered," said Joe Hardin, Kinko's chief executive officer. "Xerox's commitment to customer satisfaction has never been stronger, and we believe Xerox is the vendor that can help us help our customers with their document processing needs."
The $20 million color deal builds upon a previously secured $290 million contract. As the primary color supplier for the Kinko's network, Xerox will provide a full spectrum of color products, including up to 2,000 DocuColor 12, 30 and 40 digital copier/printers and DocuColor 2045 and 2060 Digital Color Presses. These products range in speed from 12 to 60 pages per minute, represent the broadest and most successful color product line in the industry, and contributed to the company's 74 percent increase in revenue from color products in the third quarter.
As the primary black-and-white document product supplier, Xerox will also equip Kinko's locations with more than 250 DocuTech Production Publishers, designed to improve productivity and profitability for high-volume applications. The deal also includes the family of Document Centre digital multifunction products that print, copy, fax and scan, as well as a full range of supplies.
"For more than 30 years Xerox and Kinko's have forged a partnership built on common values including quality and continuous innovation," said Mike MacDonald, president, Xerox North American Solutions Group. "Installing the latest Xerox technology in Kinko's stores across the U.S. and Canada solidifies Kinko's leadership in the document services industry and underscores our resolve to achieve a dramatic corporate turnaround by continuing to put customers first."
Installs of the monochrome equipment are already under way. Installation of the color products will begin immediately.
Kinko's is the world's leading provider of visual communications services, document creation, and copying. Its global network of over 1,000 digitally connected locations offers 24-hour access to technology for color printing, finishing and presentation services, Internet access, videoconferencing and web-based on-demand printing and document management solutions. Kinko's is headquartered in Ventura, Calif. |
