JV with Lucky (Huaguang) to 'take Agfa back to profit'

Aug 28, 2018 at 07:37 pm by Staff

A partnership with Lucky HuaGuang Graphics will see the Chinese company making printing plates for Agfa Graphics using Agfa IP.

The strategic alliance sees both optimising manufacturing and technology strengths, and growing their prepress product and services business. Lucky will provide manufacturing capacity for plates in Nanyang with Agfa Graphics' support and using its technology and IP to manufacture products for Agfa.

Both companies will join forces to accelerate growth in mainland China, managed through of a joint venture combining their prepress distribution activities in the country, and plan to expand their cooperation in other areas later.

Agfa Graphics president Stefaan Vanhooren says the alliance will give Agfa a unique opportunity to grow its business and restore profitability. "It is an important step in the further development of our strategy to offer our customers more choice," he says.

Lucky president Tao Zhang says Agfa's strong reputation and growth ambition will accelerate its own plans for global growth.

No financial details have been disclosed, and the transaction is subject to regulatory and other conditions.

Founded in 1972, Lucky is a state-owned enterprise under the China Aerospace Science and Technology Corporation, and the country's key production and R&D base for photosensitive printing materials. It makes offset plates - where it is one of the world's largest manufacturers - graphic arts and other films and flexo plates under the Huaguang brand.

Pictured: Agfa's headquarters in Mortsel, Belgium


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