Type Subsidiary Area served Worldwide Headquarters Chūō, Tokyo, Japan Number of employees 108,525 | Industry Electronics, Imaging Products Photocopiers Founded 1959 Parent organization Ricoh | |
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Key people Masamitsu Sakurai Chairman, Shiro Kondo President & CEO Revenue 2,016 billion Yen (Fiscal year ended March 31, 2010) | ||
Savin was incorporated in 1959 by Max M. and Robert K.Low (the company was named using the name of Max Low's son-in-law, Robert S. Savin) and was run by Low's son, Robert K. Low (Finance,management and marketing) and E. Paul Charlap (research and development). It was known primarily for its line of liquid toner photocopiers, which set it apart from other companies that manufactured dry toner equipment, like Xerox.
During the 1960s and through the 1980s, Savin developed and sold a line of liquid-toner copiers that implemented a technology based on patents held by the company. Savin's copiers were manufactured by Ricoh Company and distributed by Savin in the US and Canada through 50 Branch offices and 500 dealers, and under licenses from Savin to Nashua Corp for Europe and South America and through Ricoh for the Far East. Although up against major corporations such as Xerox, IBM and Kodak,Savin was able to find its niche with well developed marketing plans. Savin ( approximate sales of $500 million and royalties from licensees of $10 million) was listed on the New York Stock Exchange when it was sold in 1982 to Canadian Development Corp and later sold to other companies. The acquiring companies never had the marketing talent (deciding not to keep the talented Savin marketing professionals that had built the Company) and, therefore, sales and royalties began to decline at a steady pace.
In 1995, Ricoh Company acquired Savin Corporation, at which time it was made a wholly owned sales subsidiary.