AlAmin reports Under a reorganisation, office and medical equipment supply company Staples Holdings Ltd. plans on consolidating its three locations into the former Winter-Cookson, Petty Ltd. warehouse.

The publicly-traded company expects to move its 60 employees from offices on Dundonald Street and two warehouses by the end of the year when the new location is renovated.

Meanwhile, internal reorganisation has led to the paring down of about six employees, Staples president Michael Johnson said. In addition the company's director of operations has also left and so has Brad Bender, the manager in charge of the medical sales subsidiary.

Mr. Bender left Atlantic Medical International Ltd. this year to join an orthopaedic company in the US for higher wages.

He was replaced six weeks ago by Carolyn Hanover, who has "more management experience'', according to a spokeswoman for chairman Bill Midon. Ms Hanover has been with Staples for about five months. Atlantic Medical's main market has been selling supplies to King Edward VII Memorial Hospital.

In response to rumours swirling around the market about loss of market share to competitors, spokeswoman Mary Mann said the office supply business was undergoing change. The reorganisation was part of the attempt by the company to be more responsive to customers' needs.

"I think things are going extremely well,'' she said. "This business needed a fair bit of change. If you keep on doing things the same way then you get the same results. Our results need to be better.'' Staples reported increased revenues by 24 percent to $7.9 million for the half year to September 30, 1997 when compared to the first six months of the last financial year.

The company had net income of $463,792 for the period. In the last full financial year to March 31, 1997 the company suffered a decline in profits of about 40 percent to $630,424.

The Bermuda Stock Exchange has given the company a one month extension -- to the end of October -- to the date when it is required to produce a year end financial report. The extension was given as the company has recently hired a new chief financial officer who is due to arrive on the Island soon.

Meanwhile, Atlantic Medical International Ltd. (AMI) has grown dramatically in the year since it was set up Mr. Johnson said. The company has had $3 million in sales over 18 months.

Revenues for the office supplies business are about the same as last year and overall revenues for the company are up, he said.

Rumours have also been swirling around that Bill Gresham, who sold Chips Ltd.

to Staples for about $7.4 million in 1995, was about to set up another competing company.

Mr. Gresham told The Royal Gazette that was not the case.

"No, I'm not setting up a new business,'' he said.

Staples president Mr. Johnson said the company was growing by selectively adding employees to strengthen a few areas of the business.

"I am committed to us being on the leading edge,'' he said, adding that the company was embarking on new areas of electronic commerce. Competition in the local marketplace has pushed the company to speed up some of its development plans he said.

"Our medical supplies business has grown dramatically in one year,'' he said.

"We need to consolidate and run it as a business. We need to build relationships with our customers. We are taking a much more customer-focused team approach to the marketplace.

Staples and supplier Sharp Corp. are holding a seminar on digital imaging and document products at the Bermuda Society of Arts gallery this Friday at 10 a.m. and noon.

Michael Johnson