Agfa Concentrates On Growth As It Sells Its Offset Solutions Division To Aurelius
Image Courtesy of Agfa
Agfa has sold its Offset Solutions division to Aurelius, a Luxembourg-based investment group, for €92m.
Agfa will continue to drive its digital division, which develops and manufactures its wide format presses.
The company acquired the Inca business in May, to add to its wide format portfolio.
The deal to sell Offset Solutions was expected, with Agfa spending much of the past two years preparing the division for new ownership.
Pascal Juéry, CEO of the Agfa-Gevaert Group, said: “The expected sale of the Offset Solutions division is a major step in our ongoing transformation process. It will enable us to increase our focus on our growth businesses, which is crucial to our future success in our markets. After having examined all options, we believe that the proposed transaction is the best possible solution for all stakeholders: the employees working in the division, the customers in the offset industry and our shareholders.”
The Offset Solutions business – which comprises its plates, workflow software, CTP, chemicals, films and proofing technology – is Agfa’s biggest division, with sales of €748m last year, an adjusted EBITA loss that came down from €21.9m to €6m, and for the first two quarters of this year it was back in the black.
Offset Solutions has some 1,700 staff at its worldwide manufacturing and sales operations, in 75 countries. Around ten per cent of its staff are R+D roles.
Agfa’s share price shot up by 10 per cent on the deal.
About Aurelius
Aurelius Group has a large portfolio of investments, including media and technology, chemicals, business services, consumer goods, food and beverage, and telecoms, with consolidated revenues of €2.6bn last year.
About Agfa
The Agfa-Gevaert Group is a leading company in imaging technology and IT solutions with over 150 years of experience.
The Group holds four divisions: Radiology Solutions, HealthCare IT, Digital Print & Chemicals and Offset Solutions.
They develop, manufacture and market analogue and digital systems for the healthcare sector, for specific industrial applications and for the printing industry.
In 2021, the Group realized a turnover of 1,760 million Euro.
https://www.agfa.com/printing/large-format/
