Agfa, Aurelius ink agreement for sale of Offset Solutions division
The Agfa-Gevaert Group announced that it has inked a purchase agreement with the Aurelius Group for the sale of Agfa’s Offset Solutions division.
31 Aug 2022 | 2238 Views | By Noel D'Cunha
Agfa has found a buyer for its offset solutions division, and plans to sell it to Aurelius Group in a USD 92-mn deal.
Agfa’s Offset Solutions division is a global supplier to the offset printing industry, offering commercial, newspaper and packaging printers integrated prepress and printing solutions. In India, TechNova Imaging Systems has technical and marketing collaborations with Agfa.
Offset Solutions is Agfa’s biggest division. It had sales of USD 748-mn last year and reduced its adjusted EBITA loss from USD 21.9-mn to USD 6-mn.
At the beginning of last year Agfa began the process of restructuring Offset Solutions into a separate entity, which would facilitate a sale or merger of the operation.
Luxembourg-headquartered Aurelius Group has a wide portfolio of investments, including media and technology, chemicals, business services, consumer goods, food and beverage, and telecoms. It had consolidated revenues of nearly USD 2.6-bn last year.
Offset Solutions employs around 1,700 at its worldwide manufacturing and sales operations, and the business is active in more than 75 countries. Around 130 employees are involved in R&D.
Its product range encompasses offset printing plates, CTP systems, workflow software, pressroom chemicals, films, and proofing media.
The deal is subject to regulatory approval and consultations with employees. It is expected to be completed in Q1 2023.
Agfa CEO Pascal Juéry described the sale as “a major step” in Agfa’s ongoing transformation process.
Pascal Juéry added, "It will enable us to increase our focus on our growth businesses, which is crucial to our future success in our markets. After examining 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."
Readers of PrintWeek will recall that Agfa acquired Inca Digital Printers during the Fespa show in Berlin on 1 June. Inca was previously owned by Screen.