Consumer imaging goes in Agfa refocus

Printing World, August, 2004

Agfa is to focus exclusively on its core growth markets of graphic systems and healthcare, which are rapidly going digital, as it announces the disposal of its lossmaking consumer imaging division for E175.5m. The transaction should be completed by November.

Agfa has decided to add the expected loss of this transaction to its Q2 accounts, which plunged the group's half-year results deep into the red.

As part of the sale, Agfa will transfer assets and liabilities worth about E560m, resulting in a non-cash book loss of E430m.

Graphic systems has put behind it three sluggish years and after a slow start in the first two months of the year, turnover started to pick up in March, a trend that continued during the second quarter. Nevertheless, sales fell...