Unformatted text preview: UPDATE: Canon Boosts US Toner Cartridge Ops In $600M Invest 358 words 1 May 2008 23:42 Dow Jones News Service DJ English (c) 2008 Dow Jones & Company, Inc. (Adds background details, stock market comment). TOKYO (Dow Jones)--Camera and office equipment maker Canon Inc. (7751.TO) said late Thursday it will boost laser printer cartridge production in the U.S. in a $600 million investment that will allow it to step up capacity in one of its most lucrative operations. The move will also help Canon sidestep the impact of the stronger yen which has been crimping earnings at Japan's big manufacturing exporters. Last Month Canon said that net profit slid 19% in the first quarter ended Mar 31. to Y106.6 billion, in part because of the rise of the yen versus currencies like the dollar. Assisted by local authorities in Virginia, the investment will create 1,000 new jobs at Canon USA's Hampton Roads, Va. site. In a statement, Canon said it will build a 700,000 square-foot facility for manufacturing laser printerVa....
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This note was uploaded on 01/11/2012 for the course EIN 4354 taught by Professor Tufecki during the Fall '08 term at University of Florida.
- Fall '08