HP<HPQ.N> Israel subsidiary sees $800 mln in sales
TEL AVIV, May 14 (Reuters) - The Israeli subsidiary of the
newly merged Hewlett-Packard Co and Compaq Computer Corp
estimates it will have $800 million in sales in its first year,
the head of the unit said on Tuesday.
"The latest mergers and acquisitions position HP Israel as
the leading local computer company," said Udi Graff, head of HP
Israel, which combines HP's and Compaq's Israeli subsidiaries.
HP Israel also includes Indigo NV, the Israeli maker of
digital printing systems recently acquired by Hewlett-Packard.
Graff said the $800 million in sales includes $450 million
in domestic sales and $350 million in exports of digital
printing systems.
HP Israel has 1,200 workers and has been divided into four
business units -- HP Services, Personal Systems Group, Imaging
and Printing Group and Enterprise Systems Group.
Graff said the integration process should be completed by
the end of the summer and that he expected only a very small
number of layoffs as a result of the merger.
HP earlier this month completed its $18.7 billion
acquisition of Houston-based Compaq, the largest acquisition in
technology industry history.
((Tova Cohen, Tel Aviv newsroom, +972-3-537-2211, ext 238,
telaviv.newsroom@reuters.com))
REUTERS
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