"Stronger...different...better. Building a better place to do work."

This is the new mantra of Xerox Corporation, the company rescued from the brink of bankruptcy by one of corporate America's most powerful women, Anne M. Mulcahy.

And the phenomenal financial recovery has spread around the globe, with Bermuda distributor A.F. Smith Trading Company being recognised as one of the top performers in 2001.

At Xerox's Distributor Operations Annual meeting in Atlanta Georgia in late February, A.F. Smith scooped half of the awards competed for by distributor operations in Latin America and the Caribbean.

The local company was awarded the prestigious Xerox Outstanding Achievement Award, two Marketing Achievement awards and the Post Sales Excellence award.

On hand to receive the award on behalf of A.F. Smith's Xerox team were Paul Johns and Sue Smith.

At the presentation, it was noted that A.F. Smith's outstanding performance was the result of dynamic growth in digital and colour printing equipment solutions and their leadership in customer service and satisfaction.

Fred Suarez, general manager of Xerox distributor operations said at the awards ceremony in Atlanta: "The A.F. Smith organisation has one of the most talented and professional teams in the entire Xerox Distributor group, comprised of 22 distributors in Latin America and the Caribbean."

Speaking with The Royal Gazette recently on Xerox's turnaround, A.F. Smith President and CEO Tim Smith said: "Xerox's turnaround demonstrates the power of having a vision, about the faith employees have in one another and in their company. It's also about having a plan and executing it well.

"I also credit them with their consistent approach to confront problems head on, to being open and up front with their customers, shareholders and employees. A lot can be said for openness and regular communication.

"We have represented Xerox for 15 years. We have enjoyed the relationship and are excited about their new technology and our ability to meet customer needs in Bermuda."

Of the 42 employees at A.F. Smith, 19 are dedicated to Xerox products and services.

Xerox has been the focus of media attention since announcing a profit in their fourth quarter of last year for the first time in several years.

The company has spent much of the last two years cutting jobs, selling assets and fighting off allegations of accounting irregularities.

Although revenue in the fourth quarter fell 13 percent, the company announced operating profit of 15 cents a share in contrast to a loss of 25 cents a share in the quarter a year earlier.

The company also said it would turn a profit in 2002 despite the global economic downturn. Xerox's stock price has climbed from a low of $4.81 in April last year to $10.55 yesterday.

Ms Mulcahy has outlined five objectives to keep the company on track, including, growing profitable revenue, improving cash generation, reducing cost base, maintaining relentless customer focus and energising and developing our people.

On the web: www.xerox.com