The Agfa-Gevaert Group has now completed the sale of its offset solutions division to the European investment company Aurelius Group.
Under the terms of the share purchase agreement with Aurelius Group, the Agfa-Gevaert Group will continue to provide certain consumables – including film – and services to its former division.
“The sale of our offset solutions division is an important step in our transformation journey. I want to thank all offset solutions employees for their professionalism, dedication and loyalty over the years and wish them all the best in the future. I am confident that with Aurelius, they will continue a track record of innovation and leadership,” Agfa-Gevaert Group president and CEO Pascal Juéry said.
“In turn, this transaction will allow Agfa to focus on other growing market segments, which is crucial for our future success.”
The announcement follows the share purchase agreement that the companies inked in September last year, with Agfa-Gevaert mentioning that Aurelius Group would acquire the offset business for €92 million ($150 million), subject to customary working capital and net financial debt adjustments as well as minority share and net pension debt deductions.
Agfa-Gevaert’s offset solutions division is a global supplier to the offset printing industry, offering commercial, newspaper and packaging printers integrated prepress and printing solutions.
Agfa Oceania managing director Mark Brindley previously said the sale of the offset business to Aurelius will not affect operations here in Australia.
“Offset Solutions has a clear strategy in place of ‘value selling’ by offering total solutions aimed at delivering the best cost of ownership to our customers. This focus, along with our product knowledge and support, will continue here in Australia,” Brindley said at that time.
“We are very excited and happy with this move. With Aurelius, we have a group of shareholders who fully endorse our strategy and believe in further growing our offset solutions business. Our customers will continue to experience continuity of sales and service support with regards to Agfa Offset Solutions, and our respective products and solutions.”
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