Re: Agfa Quitting Film Business

I don't believe Agfa will be quitting the film business. This is the
information I recieved from the PMA news letter yesterday:

Agfa to sell Consumer Imaging business

Agfa-Gevaert, Mortsel, Belgium, will sell its Consumer Imaging business in a
management buy out/in for Euro 175.5 million (US$215 million). The spin off
company, AgfaPhoto, will serve markets and customers worldwide.

  "The new organizational structure that we have with the new AgfaPhoto
provides us to be more independent, more nimble and more entrepreneurial,"
said Bing Liem, president, Agfa Consumer Imaging, North America. "Our sole
focus is creating successful retailer transition into the digital era, and
we strongly feel that with the spin off and the ability to stand on our own,
we will be able to move much more quickly to implement this strategy."

  AgfaPhoto will be taken over in its entirety including worldwide
production, R&D, sales, marketing, and service of all the products under the
Agfa Consumer Imaging business, Liem said. These products include film,
single-use cameras, photo paper and chemicals, lab equipment, and Agfa's
related lease portfolio from its equipment. AgfaPhoto will employ
approximately 2,870 employees.

  As of Nov. 1, there will be two separate companies, Agfa-Gevaert and
AgfaPhoto. Agfa Consumer Imaging products will remain available and use the
Agfa logo for 18 months, Liem said. After that, products will display the
new AgfaPhoto logo. Any newly developed products will use the new AgfaPhoto
logo. Liem said AgfaPhoto is expected to be cash positive in 2005.

Kevin Morris
Stouffer Industries

----- Original Message -----
From: "Andy Duncan" <duncanad45@lycos.com>
To: <alt-photo-process-l@sask.usask.ca>
Sent: Thursday, August 26, 2004 9:27 AM
Subject: Re: Agfa Quitting Film Business

> does this mean they won't be making photo paper any more? my favorite
paper is their classic
>
>
> ----- Original Message -----
> From: FDanB@aol.com
> Date: Wed, 25 Aug 2004 17:05:09 -0400 (EDT)
> To: alt-photo-process-l@sask.usask.ca
> Subject: Agfa Quitting Film Business
>
> > For those interested (copy and paste if needed):
> >
> > http://www.nzherald.co.nz/latestnewsstory.cfm?storyID=3586014&thesectio
> > n=business&thesubsection=latest.html
> >
> > From the New Zealand Herald:
> >
> > >Agfa-Gevaert quits camera film business
> > >
> > > 23.08.2004 6.40 am
> > >
> > >
> > >One of the best-known names in camera film, Agfa-Gevaert, is quitting
the
> > >industry due to the booming popularity of digital cameras.
> > >
> > > While international rivals Eastman Kodak and Fuji Photo Film revamp
their
> > >film divisions to cope with the digital camera craze, Agfa is
abandoning
> > >its historic roots and selling its consumer photography unit to
managers
> > >for 175.5 million euros ($331.5 million).
> > >
> > > Agfa made almost one in 10 of the rolls of film sold throughout the
world
> > >last year.
> >
> > At least someone's buying the film end of their business so there is
hope.
> >
> > Dan
> > www.danburkholder.com
>
> --
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Received on Thu Aug 26 08:44:05 2004