AGFA says it’s Farewell to Offset - Agfa Offset Solutions sellS.

News from our Graphic Industry - the Agfa-Gevaert Group -

Agfa-Gevaert confirms today in a press release that it has an agreement to sell its most important business unit, Agfa Offset Solutions.

German investment company Aurelius pays 92 million euros, including debts.

INKISHNEWS reported in articles in January and June 2022 that Agfa was working on the sale of its offset division and last year already brought this offset division into a separate legal entity, preparing for what is confirmed today, a sale, to the German acquirer, the investment company Aurelius.

In 2021 the Agfa-Gevaert Group booked a joint turnover of 1,760 million euros. For a division that delivered more or less 42,5 percent of Agfa's group turnover last year with 748 million euros, this seems like a very small price, but let's not forget that the Offset division has had a very difficult time for years to be and become profitable again, which has melted the hopes of a good acquisition price like snow in the sun.

According to reliable sources, the German buyers would also take over the pension costs worth 50 to 60 million euros.

So, with the sale of the Offset branch, Agfa will also relieve itself of a large part of its pressing pension problem, which costs them around 55 million in cash annually.

When the sale is finalized, Agfa will only consist of three parts: Healthcare ICT, Radiology, and Digital Print. The Digital Print division is the division that builds digital printers, develops the associated software, and also produces and supplies the latest (inkjet) inks, materials and maintenance services.