GBC's Organizational Structure

GBC's organizational structure closely aligns its marketing, sales and support functions around its key customers and end-consumers. The company's three business units are comprised of the following:

Commercial & Consumer Group ("CCG"): Headquartered in Skokie, Illinois, this Group focuses on branding and marketing strategies for consumer-ready products that leverage GBC's leadership among customers of its binding, laminating and visual communication products in the work, school and home environments. Its primary products include writing boards, bulletin/planning boards, easels, signs, organizers, markers, desktop punching, binding and laminating machines and supplies, customized and standard 3-ring binders, folders, covers and index tabs, document shredders and trimmers and maintenance and repair services. 2003 Sales and Segment Operating Income were $460 million and $56.6 million, respectively. CCG's Geographic Markets include the United States, Canada, Mexico, Latin America, and the Asia/Pacific region. CCG sells through both the (i) indirect channel including office product superstores, contract/commercial stationers, wholesalers, education dealers, mail order companies, mass marketers and other dealers (approximately 69% of sales) and the (ii) direct channel including salespersons, telemarketers and internet portals (approximately 31% of sales.) Its end-consumers include the general home and office markets, commercial reprographic centers, educational and training markets and government agencies.

Industrial and Print Finishing Group ("IPFG"): Headquartered in Addison, IL, this Group targets print-for-pay and trade finishing customers who use GBC's professional-grade finishing equipment and supplies to produce sophisticated, professional laminated and/or bound documents and graphics. Industrial or non-graphic uses of laminating films continue to be a growing part of IPFG's business. The Group's main products include mid-range and commercial high-speed laminators, wide-format digital print laminators, thermal and pressure-sensitive laminating films, high-speed punching and binding equipment and supplies and maintenance and repair services. 2003 Sales and Segment Operating Income were $137 million and $17.2 million, respectively. IPFG competes in markets worldwide, but primarily North America and Europe. Asia is a rapidly expanding part of IPFG's business. IPFG sells through direct salespeople, telemarketers, internet portals and dealers to printers, trade finishers, and industrial (non-graphic) users.

The Europe Group: Headquartered in Hoeilaart, Belgium, the Group distributes many "consumer-ready" binding, laminating and visual communication products to customers in the work, school and home environments. In addition, the Europe Group markets professional grade finishing equipment and supplies to commercial reprographic centers. Its primary products include desktop binding and punching equipment and related supplies, desktop laminating equipment and film supplies, document shredders, writing boards, easels, projector screens, flipcharts, markers, calculators and trimmers, wide-format roll film equipment and supplies, professional punch and bind equipment, semi automatic punch solutions and maintenance and repair services. 2003 Sales and Segment Operating Income were $101 million and $6.1 million, respectively. The Europe Group's geographic markets include Europe, Middle East and Africa. The Europe Group sells through both the (i) indirect channel including office product superstores, contract/commercial stationers, wholesalers, mail order companies, mass marketers and other dealers (approximately 80% of sales) and the (ii) direct channel including salespersons, telemarketers, technical service, etc. (approximately 20% of sales). Its end-consumers include the general home and office markets, commercial reprographic centers, educational and training markets and government agencies.