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LEXINGTON, KY.-Its headquarters are located in the Bluegrass state, a color that has little relevance now for the 4,000 employees of Lexmark International Inc.
The only hint of leftover IBM culture can be found in isolated areas of a three-million-square-foot facility, including one line that still builds Wheelwriter typewriters.
For Lexmark, a company that was formed in March 1991 when the investment firm of Clayton, Dubillier & Rice Inc. acquired IBM Corp.'s information products business, red is now the predominant color on everything except the balance sheet. In that area, it's fading.
While revenues last year exceeded $2.5 billion-an increase of 10 per cent from 1993-the US$1.5-billion debt load the company inherited from IBM at the time of the sale has been whittled down to US$150 million.
In Lexington, Lexmark currently manufacturers print engines, keyboards and printer supplies,...
