Agfa Graphics Asia goes live
| 02 September 2010
Agfa Graphics and Shenzhen Brothers have combined their Greater China and ASEAN activities to create a joint venture - Agfa Graphics Asia, headquartered in Shenzhen (Guangdong).
The new venture will fully draw on the infrastructure, technology, manufacturing and distribution strength of its founding companies and will continue to have full access to the Agfa Graphics world class technology.
Shenzhen Brothers started finishing and distribution activities of Agfa Graphics master roll graphic films in 2000. Over the years, Shenzhen Brothers, through its partnership with Agfa, has built up a successful distribution network in the Chinese printing industry.
In recent years, Agfa Graphics has made important investments in both digital prepress and new industrial inkjet printing technology. Furthermore, Agfa Graphics has its own subsidiaries in the Greater China and ASEAN region and a state-of-the-art printing plate factory in Wuxi, China.
In its first full year of operations, the new company is expected to achieve sales of 200 million Euro. Agfa Graphics will be the majority shareholder with a stake of 51%. Shenzhen Brothers will own 49% of the company. Chairman of the Board will be Mr. Stefaan Vanhooren, President of Agfa Graphics, while Mr. Huang, CEO of Shenzhen Brothers, will become the CEO of the new company.
"Agfa Graphics and Shenzhen Brothers have been loyal partners in the past ten years, successfully serving the graphics industry in China," says Stefaan Vanhooren. "This joint venture is an important vehicle in achieving our ambitious growth plans in Asia for digital prepress and industrial inkjet. Shenzhen Brothers' high reputation and strong relationship with local customers, suppliers and government is a major asset to build out a strong and profitable market position."
www.agfa.com
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