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Agfa Corporation Transfers Digital Printing System Business to Xeikon
At the end of June this year, Agfa and Xeikon exchanged equity and transferred Agfa's digital printing system business agreement to Xeikon. In 1999, Agfa’s digital printing system business revenue totaled 68 million euros. According to the agreement, Agfa will transfer the entire business of Chromapress digital printing system, toner and developer technology and equipment, R&D strength and technical support team, etc. to Xeikon Corporation; Agfa will acquire 1.6 million shares Xeikon's newly issued restricted shares and recommended Mr. Fred Chaffart and Mr. Guido Verdeyen to enter the board of directors of Xeikon. The transfer will make 25.5% of Xeikon's equity structure owned by Agfa. Agfa has promised that after the agreement comes into effect, it will no longer absorb more Xeikon shares within one year. After the agreement came into effect, Man Roland took over from Agfa to become a new OEM partner for Xeikon. Xeikon also reorganized the market system. Xeikon (Japan) Co., Ltd. is responsible for the Japanese market. The new company, Xeikon and Primesource, is responsible for the North American market. Man Roland's new business unit is responsible for other regional markets.