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Agfa boss unveils vision for growth
Agfa’s new chief executive, Ludo Verhoeven, has made an immediate mark on the group by announcing a major investment and efficiency plan.
The group hopes to grow via acquisitions and internal R&D, mainly in new digital products, across all its divisions, including graphic arts.
An efficiency programme to improve cashflow and free up working capital is being put in place to fund growth. The firm is examining all aspects of its business to identify areas where savings can be made. It will announce the results of the analysis in September.
"We’re aiming for an improvement of 20% in working capital," said media relations spokesman Johan Jacobs. Much of this will come from improved inventory and credit control.
Verhoeven’s announcement is seen as a sign to the market that the decision not to sell the consumer imaging division and resulting departure of Klaus Seeger has not affected its plans to grow.
"Just because we’re not selling the consumer imaging business doesn’t mean we’re not acquisitive," said UK director for graphic systems Laurence Roberts.
The graphic systems division is targeting the newspaper and packaging sectors and the Chinese market as growth areas. It also plans to move into the "enterprise" software market, which covers MIS, eCommerce and project management.
This is likely to be via a mix of internal R&D and acquisition. Agfa has already made a move into this area with the Delano project, which it announced at Drupa.
It is following its recent investment of £24m (E40m) in extra capacity for making CtP plates with a further £18m by the end of next year.
"The aim is to increase plate production and that will drive down the cost to the end user," said Jacobs.
Source : www.agfapress.com
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