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Bayer bails from Agfa – consumer division up for sale.

Thursday, 05 April 2001
By Print 21 Online Article

Bayer said, “partial ownership interest is no longer of strategic importance for the pharmaceutical and chemicals concern. Instead it has been solely a financial investment following the divestiture of the majority interest in the company in 1999.”

Bayer holds 30 per cent of the company with Gavert having another 25 per cent.

The Bayer announcement came at the same time as Agfa declared its intention to sell its Consumer Imaging division, citing lower sales figures due to the economic downturn. The Graphic Systems division also recorded lower sales but still accounts for the largest share of the group’s revenue at 39 per cent (E2.1 billion).

Any divestiture should have minimal impact in Australia where Graphic Systems has been operating autonomously from the old Printing Technologies HQ at Blackburn Vic.

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