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5-22-97
Letter of Intent on the Acquisition of DuPont's Graphics Films and Offset
Printing Plates Businesses by Agfa
The Agfa-Gevaert Group, Leverkusen/Germany and Mortsel/Belgium, which is part of the Bayer Group, and DuPont, Wilmington, Delaware/USA, have signed a letter of intent to negotiate the acquisition of the DuPont graphics films and offset printing plates business. DuPont will continue to operate its core photopolymer proofing and Cyrel flexographic plates businesses.
Systems for the Graphics industry are part of the core business of the Agfa Group, whose Graphic Systems Business Group accounted for just under half of the Group's world turnover of about US $5 billion in 1996. In 1996, DuPont generated a turnover of almost US $600 million in graphic films, offset printing plates, and associated chemicals and equipment.
DuPont's graphics films and offset printing plates businesses employ about 2,200 people worldwide with major production sites in Germany (Neu-Isenburg) and Great Britain (Leeds, Margate and Thetford). It is anticipated that Agfa will hire most of the employees.
The transaction is subject to final agreement by the parties, the consent of the responsible supervisory committees, and regulatory approvals.
While specific information is not available at this time,
DuPont expects to record a non-recurring charge against earnings in connection
with the proposed transaction.
Press Release from Dupont Printing & Publishing
contact : Mike Okner @ 302-992-2060