The majority stakeholder in German distributor Computer 2000, steel company Kloeckner, has increased its holding from 51 to 75 per cent, despite recent dents in the computer company's profitability.
Kloeckner, a subsidiary of German conglomerate Viag, said it had taken the increased stake because it expects Computer 2000 to continue to be profitable, despite tough conditions in the comptuer market and recent costs from restructuring.
The distributor reported profits of 18.8 million marks ($12.3 million)for fiscal 1995, and will shortly report 1996 figures. It expects to be in profit before tax, despite the significant charges for restructuring its US unit Ameriquest, and heavy expansion costs. The financial strength of Kloeckner can only be positive for Computer 2000 in this transitional stage of its history - it now makes 60 per cent of sales from non-Germany markets.
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