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Xerox Renews Deal
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Business New Haven
3/19/2001
By: BNH
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STAMFORD - Xerox Corp. (NYSE: XRX) has renewed a five-year contract valued at up to $500 million to help members of the health-care network VHA Inc. manage their copying and printing. Xerox will set up systems to publish manuals as well as organize training and other processes for VHA's network of 2,100 physicians and other health-care providers. The agreement will encompass an existing contract with Novation LLC, which purchases equipment for VHA. The deal secures a revenue source as Xerox struggles to rebound from two consecutive quarterly losses. The company has sold off $2 billion in assets and has pledged to reduce costs by $1 billion.
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