Mortsel, Belgium - August 28, 2018 - 7.45 a.m. CET
Lucky HuaGuang Graphics Co. Ltd. and Agfa Graphics announced today that they have entered into a strategic alliance in the graphics prepress business.
The strategic alliance aims to allow both companies to grow their respective businesses by optimizing their respective strengths in manufacturing, technology and distribution of graphic prepress products and services.
Under the intended collaboration, Lucky HuaGuang Graphics Co. Ltd. will provide manufacturing capacity for printing plates in Nanyang, China, with Agfa Graphics' support and using Agfa Graphics' high-end technology and intellectual property to manufacture products for Agfa.
Furthermore, both companies intend to join forces to accelerate growth in mainland China, managed through the set-up of a joint venture combining their prepress distribution activities in the country.
Agfa and Lucky HuaGuang Graphics Co. Ltd. plan to expand their cooperation in other areas in the future, allowing both companies to grow their businesses and brand presence internationally.
"Joining forces with Lucky HuaGuang Graphics Co. Ltd., a leading supplier of prepress plates in China, will offer us a unique opportunity to grow our business and to restore our profitability. It is an important step in the further development of our strategy to offer our customers more choice," says Stefaan Vanhooren, President Agfa Graphics.
"Agfa's strong reputation and ambition to grow in the prepress industry will accelerate our plans to strengthen the presence of Lucky HuaGuang Graphics Co. Ltd. in the global printing industry," says Mr. Tao Zhang, President of Lucky HuaGuang Graphics Co., Ltd.
The parties have agreed not to disclose any financial details. The implementation of the transaction is subject to customary regulatory and other conditions.
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Note to the press
A press and analyst conference call is held at 9.00 a.m. CET today in which CEO Christian Reinaudo will elaborate on this alliance. Details are to be found in the attached invitation.
About Agfa
The Agfa-Gevaert Group develops, manufactures and distributes an extensive range of analogue and digital imaging systems and IT solutions, mainly for the printing industry and the healthcare sector, as well as for specific industrial applications.
Agfa's headquarters and parent company are located in Mortsel, Belgium.
The Agfa-Gevaert Group achieved a turnover of 2,443 million euro in 2017.
About Lucky Huaguang Graphics Co., LTD.
Lucky Huaguang Graphics Co., LTD., founded in 1972, is a state-owned enterprise under China Aerospace Science and Technology Corporation. It is China's key printing photosensitive material production and R&D base, advocating the concept of green printing. The main products are Offset printing plate, Graphic-arts film, PCB film, High-barrier film and Flexo plate, etc.. As for offset printing plates, it is a leading manufacturer in the world. "Huaguang" brand is a well-known trademark in China's printing and photosensitive industry.
Contact:
Viviane Dictus
Director Corporate Communications
tel. ++32 0 3 444 7124
e-mail: viviane.dictus@agfa.com (mailto:viviane.dictus@agfa.com)
Johan Jacobs
Corporate Press Relations Manager
tel. ++32 0 3 444 8015
e-mail: johan.jacobs@agfa.com (mailto:johan.jacobs@agfa.com)
Press release in pdf format (http://hugin.info/133908/R/2212904/862930.pdf)
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Agfa-Gevaert via Globenewswire
