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Agfa splits three ways in $429m cost cutting plan

Thursday, 29 June 2006
By Print 21 Online Article

The new materials business will be responsible for all film manufacturing and other niche ‘specialty products’, with Agfa to position is as an independent supplier of all film and related products. It claims the new structure will allow each business the flexibility to implement its growth strategy and reduce costs in line with the changing market circumstances.

Garry Muratore, regional marketing manager for Agfa Graphic Systems, says that customers in Australia and New Zealand can expect little or no change in their dealings with the company.

“Because Agfa Graphics strongly believes in the power of the printed medium, we absolutely want to continue delivering innovative digital technologies to the market place,” says Muratore. “We do not intend to stop investing in the development and the release of new products. Our continuation of global leadership in complete prepress solutions and high-level service, and our continued expansion into industrial inkjet and in emerging markets can only but benefit local customers and markets,” he says.

The company claims the move is in line with its recent evolution from an analogue imaging enterprise over to a digital imaging and IT services provider. It emphasises the fact that the Graphics and HealthCare groups have operated independently since the beginning of 2006.

Agfa confirms its Graphics division has a target of growing to become a $3.26 billion business by 2008. It will develop its plans to streamline the organisations over the next two months and present them at the end of August along with its distinct strategies for the three groups, with the appropriate structures to be implemented by early 2007.

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