ACCO Brands Corporation (NYSE:ABD) today announced that it has updated its segment reporting to reflect its new business structure. The results of the total company are not impacted by the realignment.
In November 2006 the company announced the re-grouping of its business segments to become more appropriately aligned with the needs of their consumers. The new structure should drive greater clarity around product strategy, and focused investment and leverage of key shared services across all segments.
Three segments are affected by the change:
- Document Finishing Group – Now reflects the combination of the former Other Commercial segment, the Document Communication business (previously reported as part of the Office Products Group) and the high-speed binding business (previously reported as part of the Commercial – Industrial Print Finishing Group).
- Commercial Laminating Solutions Group – Now reflects the former Commercial – Industrial Print Finishing Group segment less the high-speed binding business.
- Office Products Group – Now reflects the former Office Products Group, less the Document Communication business. The new Office Products Group will now focus on three consumer categories: Workspace Tools, Visual Communication and Storage and Organization.
The Computer Products Group is unaffected by this change.
The company has provided revised segment reporting schedules which reflect these changes for 2005 and 2006 on its website, www.accobrands.com, in the webcasts and presentations section under Investor Relations. This information was also filed with the Securities and Exchange Commission today on Form 8-K.
About ACCO Brands Corporation
ACCO Brands Corporation is a world leader in select categories of branded office products, with annual revenues of nearly $2 billion. Its industry-leading brands include Day-Timer®, Swingline®, Kensington®, Quartet®, GBC®, Rexel®, and Wilson Jones®, among others. Under the GBC brand, the company is also a leader in the professional print finishing market.
