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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) March 4, 1996
ALCO STANDARD CORPORATION
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(Exact name of registrant as specified in its charter)
OHIO File No. 1-5964 23-0334400
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(State or other (Commission File (IRS Employer
jurisdiction of Number) (Identification
incorporation) Number)
P.O. Box 834, Valley Forge, Pennsylvania 19482
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Registrant's telephone number, including area code: (610) 296-8000
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Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
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On March 4, 1996, the Registrant announced that, effective
immediately, its office products group, formerly known as Alco Office Products,
has been renamed IKON Office Solutions.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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(c) Exhibits.
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Press Release dated March 4, 1996
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
ALCO STANDARD CORPORATION
By: /s/ Michael J. Dillon
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Michael J. Dillon
Vice President and Controller
Dated: March 8, 1996
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Index to Exhibit
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(28) Press Release Dated March 4, 1996
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ALCO Standard Corporation EXHIBIT 28
Michael N. Kilpatric Martha A. Buckley Suzanne C. Shenk
Director of Communications Director, Corporate Manager, Investor
IKON Office Solutions Communications Relations
610-993-3662 610-993-3609 610-993-3526
ALCO OFFICE PRODUCTS RENAMED
IKON OFFICE SOLUTIONS
Valley Forge, Pennsylvania -- March 4, 1996 -- Alco Standard Corporation
announced today that, effective immediately, its office products group has been
renamed IKON Office Solutions.
IKON, formerly known as Alco Office Products (AOP), is the largest network
of independent office products dealers in North America. Alco also operates
the largest network of independent office products dealers in the United
Kingdom and has operations in Denmark, France and Germany. Prior to adopting
the IKON identity, the dealers operated under more than eighty different names
across North America and Europe. The new name will be adopted worldwide by
October 1997.
John Stuart, Alco's Chairman and Chief Executive Officer, commented, "This
name change will signal a new strategic direction to our customers, employees,
suppliers and investors. We are expanding our focus from sales and service of
copiers to providing a full range of office imaging, information and work flow
solutions to our customers. In addition," Stuart continued, "the common name
provides much of the increased marketing power we'll need to effectively
service regional and national accounts, even as we continue to provide
personalized service on a local level."
Kurt Dinkelacker, President of IKON, added, "Our new name will leverage
the power of our customer-focused network. It allows for our expansion into
outsourcing and digital networking, as we double the size of our analog copier
business. We will be the leader, the symbol, the icon of service and solutions
in the office environment.
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"Because we utilize a variety of suppliers and are not tied to any one
technology," Dinkelacker said, "we can provide our customers with the right
solution to their office technology and information imaging needs, whether it's
copies, facilities management, off-site printing and imaging, or digital
networking services."
IKON Office Solutions has its origins in a single-location copier dealer
acquired in 1979. In 1983, Alco began expanding the business through
acquisition, and since that time, the network has grown to nearly 800
locations, 25,000 employees and a base of more than 300,000 customers
worldwide.
In the last five years, IKON has posted a compound annual growth rate of
25% in revenues and nearly 34% in operating income, increasing returns on sales
from 6.2% in 1990 to 9% last year. Revenues for fiscal 1995, which ended
September 30, were nearly $3 billion. Through its expanded focus on analog
copying, outsourcing and digital networking business solutions, IKON expects to
be at $10 billion in revenues by the year 2000, with significantly increased
returns on sales.
In a related move, Alco announced a new name for its wholly-owned leasing
company, which will now be called IKON Capital, Inc. IKON Capital,
headquartered in Macon, Georgia, was formerly known as Alco Capital Resource.
The company provides financing for office equipment leased by IKON locations
throughout North America, and manages a lease portfolio in excess of $1
billion. Alco's newly-formed European leasing company will be known as IKON
Capital UK.
IKON Office Solutions is one of two business groups operated by Alco
Standard Corporation, headquartered in Valley Forge, Pennsylvania. Along with
IKON, Alco also operates Unisource, the largest marketer and distributor of
paper and imaging products and supply systems in North America. Total
corporate revenues for fiscal 1995 were nearly $10 billion.
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