Ing C Olivetti & Co SpA has at last succeeded in turning its Nurembourg-based electronic typewriter, printer and small computer systems builder Triumph-Adler AG around: it made a profit – of over $5m – last year for the first time since it was acquired by Volkswagen AG in 1980, after losses of $118m in 1987. […]
Ing C Olivetti & Co SpA has at last succeeded in turning its Nurembourg-based electronic typewriter, printer and small computer systems builder Triumph-Adler AG around: it made a profit – of over $5m – last year for the first time since it was acquired by Volkswagen AG in 1980, after losses of $118m in 1987. The turnround was not without pain: turnover in 1987 was $535m, down from $757m in 1986, and was down at around $506m last year. Job cuts were the key – productivity at the firm rose 19% last year.
