Agfa Graphics and Shenzhen Brothers create joint venture

Shenzhen Brothers started finishing and distribution activities of Agfa Graphics master roll graphic films in 2000. Over the years, Shenzhen Brothers has built up through this partnership, a leading and 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. Today, it disposes over a broad, innovative and competitive product portfolio. 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. Agfa Graphics has also built up important market positions throughout the ASEAN region.

The joint venture, named Agfa Graphics Asia, will be able to fully draw on the infrastructure, technology, manufacturing and distribution strength of its founding companies. It will also continue to have full access to the Agfa Graphics world class technology.

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.

The new company with operational headquarters in Shenzhen (Guangdong) is expected to go life no later than Q3 2010 subject to regulatory approval.