News

Amana buys Orion and sells Corbis-Japan

By Brent Phelps December 19, 2005

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Zen_garden_amana_orionMr. Hironobu Shindo, President of Amana Corporation, and  Mr. Junichi  Nakamura, President of Orion Press, have announced an agreement for the sale of Orion to Amana.  In a deal to be completed on December 28th of this year, Amana will buy out 100% of Orion's stock. Amana plans to continue to operate the Orion�s photo news service and stock photos business under the Orion brand. Gross sales for Orion, with 23 employees, for the fiscal year ended on March 31, 2005, totaled 1,151,000,000 yen, or just under US$10MM at today�s exchange rate.

At the same time, Amana announced it plans to sell all its holdings of Corbis-Japan stock back to Corbis International. All agency agreements with Corbis-Japan will revert to Corbis International, Japan. The stock transfer will be completed on December 31, 2005. Takashi Yoshida of PLANS, Ltd.

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Klaus Plaumann, December 22, 2005   [#]

Hi you guys: that looks like a great new online magazine for our industry.  I am looking forward to be one of your constant readers.Congratulations from Hamburg!
Chris- I miss your new e-mail adress- A merry Christmas and a Happy and successful New Year
Klaus

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