Agfa Returns !!! Email the new president !!!

Discussion in '35mm Cameras' started by davidb, Nov 7, 2004.

  1. davidb

    davidb Guest

    AgfaPhoto starts up
    Pressrelease

    Transfer from the Agfa-Gevaert group concluded as planned


    Leverkusen, 3rd November 2004 – AgfaPhoto, the new independent company
    in the world of digital and analog photography, has started its
    worldwide business operations as planned at the beginning of November
    2004. This concludes the transfer of the previous Consumer Imaging
    (CI) business group of the Agfa-Gevaert group to an independent
    company with new owners. The turnover of the CI business group last
    year amounted to € 870 million. The new company will continue with the
    previous business units Film/Consumer Products, Finishing and Lab
    Equipment and further develop them.

    AgfaPhoto has taken over the complete assets of the old Agfa CI
    business group, including all production plant, patents and
    technological know-how, inventory and accounts receivable, etc.

    Financially the new company has an excellent basis: the share capital
    ratio is over 40 percent. AgfaPhoto`s liability for pensions is
    limited to the current employees. In addition the new, leaner
    structure will result in a double-digit fall in annual overhead costs
    (in million Euro).

    A total workforce of about 2,900 persons, of whom approximately 2,275
    are based in Germany, is being transferred from Agfa-Gevaert to
    AgfaPhoto. AgfaPhoto has subsidiaries in more than 30 countries around
    the world and thus continues to have worldwide activities. The company
    presence in Germany consists of sites in Leverkusen, Cologne, Munich,
    Gera, Peiting, Rottenburg/Laaber, Vaihingen/Enz and Windhagen.

    The main operating entity of the group is AgfaPhoto GmbH, Leverkusen,
    a 100 percent subsidiary of AgfaPhoto Holding GmbH, also based in
    Leverkusen. The principal owner with a 55 percent shareholding is
    NannO Beteiligungsholding GmbH, Munich. With a combined holding of 25
    percent eight members of AgfaPhoto management are also owners, led by
    the chairman of the management board of AgfaPhoto GmbH, Eddy Rottie,
    who previously headed the Consumer Imaging business group. Two private
    equity companies, Highfields Capital and Abrams Capital, both of
    Boston, hold 10 percent each.

    Alongside the chairman Eddy Rottie, the managing directors are Marc M.
    Bamberger (Finance) and Ingbert Schmitz (Marketing & Sales).

    AgfaPhoto is world market leader in equipment for wholesale photo labs
    and private label films, and is one of the world´s four largest
    suppliers of minilabs, photographic papers and photochemicals.

    Although films and consumer products have an important role at
    AgfaPhoto, the development, production and marketing of lab equipment,
    software and consumables for the production of photo prints on
    photographic paper are at the centre of the company´s business
    activities. This applies equally to images captured by digital and
    analog means, to minilabs ("One-Hour Labs") and wholesale photo labs
    operating on an industrial scale. AgfaPhoto anticipates good market
    opportunities in this field in the future, as the boom in digital
    photography also leads to high demand for systems to make "real
    photos" from digital shots.

    AgfaPhoto´s wide-ranging know-how in image editing software,
    high-precision coating technologies, the production of specialist
    chemicals etc. as well as the company name, which is new but with the
    element "Agfa" nevertheless well-known, furthermore enable the company
    to expand its product range in various directions.

    "Out of a corporate division has emerged AgfaPhoto, with global
    operations and the character of a medium size company. This means
    greater freedom of action, more flexibility and shorter
    decision-making processes. We have a committed, highly-qualified
    workforce and a broad know-how which includes software and hardware as
    well as the complete spectrum of photo-chemistry. With AgfaPhoto we
    are therefore well equipped to master the challenges that lie ahead of
    us. And that means above all: we intend to exploit all the
    opportunities open to us and improve the profitability of AgfaPhoto",
    commented Eddy Rottie, chairman of the management board of AgfaPhoto
    GmbH.

    Dr. Hartmut Emans, managing director of the main shareholder Nanno
    Beteiligungsholding GmbH added: "AgfaPhoto has an excellent starting
    position and possesses very high potential to develop further. I
    therefore see the Nanno shareholding as a long-term investment."

    Contact:

    AgfaPhoto GmbH
    Corporate Communication
    Dr. Hartmut Hilden
    Tel.: +49 (0)221-98544-3671




    ********** I think we should ask for the return of APX 25
    ***************
     
    davidb, Nov 7, 2004
    #1
    1. Advertisements

  2. I think the "new" management is going to have enough trouble figuring
    out what current products to keep before taking any forward steps.
    IMHO they're already missteps by entering the "online printing" and
    "digital film" markets -- two commodity markets where they have little
    or no competitive edge.
     
    Michael Benveniste, Nov 8, 2004
    #2
    1. Advertisements

  3. davidb

    Stacey Guest

    davidb wrote:

    It was the ONLY product in their B&W line that stood out from anything
    offered elsewhere.
     
    Stacey, Nov 8, 2004
    #3
    1. Advertisements

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments (here). After that, you can post your question and our members will help you out.