PRESS RELEASE:
Agfa acquires Seifert (Germany) and Pantak (US)
Strategic Acquisitions in Non-Destructive Testing (NDT) approved by cartel authorities
Mortsel (Belgium), 29.08.2001 - Following the receipt of approval from the German cartel authorities, the Agfa-Gevaert Group (AGF), Mortsel (Belgium), today announced the acquisition of Seifert (Germany) and Pantak (US), market leaders in real-time imaging applications in Europe and the US respectively. The signatures of the letters of intent have been announced earlier this year.
The Seifert and Pantak businesses consist of the marketing, sales, development, production and world-wide distribution of X-ray equipment and systems for the non-destructive testing market.
With these acquisitions Agfa's Non-Destructive Testing business group (NDT) reinforces its position as the global solution provider for all major NDT-technologies. The blueprint for the integration of the new acquisitions into Agfa's NDT business group is presently being drawn up, taking into account all stakeholders' expectations. Both companies, as well as their dealer networks and customers, will benefit from the extensive synergies and from Agfa's growth strategy for its existing and newly acquired NDT activities.
The global market for non-destructive testing is estimated at approximately 1 billion Euro per year, of which 15% can be attributed to real-time imaging and radiographic equipment. Through the integration of Seifert and Pantak into Agfa's X-Ray Systems product group, together with the RADview business acquired in 1999, Agfa will create the necessary technological, geographical and organisational synergies to enable the company to become the leading global NDT-solution provider.
Agfa, already the market leader in other main technologies for the NDT market such as X-Ray Film and Ultrasonic Systems, will now also attain the number 1 position in the global X-Ray Equipment market for NDT.
About Agfa
The Agfa Group headquartered in Mortsel, Belgium ranks among the world's leading imaging companies. Agfa develops, produces and markets analog and digital systems, primarily for the graphics industry, medical imaging, non-destructive testing, micrographics, motion picture film and consumer imaging and photography markets. Agfa employs about 22,000 people in 40 countries, and has 120 agents throughout the world. Together, they achieved a turnover of 5,260 million Euro in 2000.
Product and company information can be found on Agfa's home page on the World Wide Web at www.agfa.com
For many years, Agfa has been the market leader in industrial radiography for non-destructive testing (NDT) of the quality and safety of a wide variety of materials. Today, approximately 80 % of all passenger aircraft are safety-tested using Agfa systems.
Agfa aims to become market leader as 'global solution provider' for the other main NDT technologies; ultrasound systems, real-time image processing, radiographic equipment and eddy current technology. To this end, important acquisitions have been made in recent years.
In 1999, Agfa acquired RADView (market leader in digital radiography) followed in 2000 by Krautkramer (market leader in ultrasound technology).
About Seifert
Rich. Seifert & Co., founded in 1892, is a family owned enterprise that stands for tradition and experience. Its headquarters and main operations, including R&D and production, are located in Ahrensburg/Germany, just north of Hamburg. The Ahrensburg staff work in two divisions, industrial and analytical, together covering the entire spectrum of non-destructive testing (NDT) by means of state of the art X-ray imaging technology.
Seifert's most important assets, however, are its people and core competence of high quality, a robust line of standard X-ray equipment and systems as well as turnkey system engineering tailored to customers' specific requirements for diverse segments such as the automotive and casting industries. In 2000, the Seifert business, with its headquarters and manufacturing plant in Ahrensburg, Germany, and subsidiaries in Freiberg/Germany, Fairview Village/Pennsylvania and Portland/Oregon in USA, Olney/UK, St. Petersburg/Russia and Chennai/India, accounted for world-wide sales of more than 30 million Euro. Seifert employs approx. 240 people world-wide and uses dedicated NDT dealers in over 50 countries.
About Pantak
Pantak, headquartered in East Haven, Connecticut, USA develops and manufactures a wide variety of equipment and systems for the NDT, Scientific and Medical markets. It provides customers with an integrated X-ray Inspection Equipment resource for solving problems utilising an array of standard and custom configurations. Pantak also provides systems for Calibration, Irradiation and Therapy applications.
Pantak employs 65 well-trained, highly skilled, motivated and experienced people in 2 countries. Pantak further distributes through an extended world-wide dealer network.
In 2000, Pantak, with headquarters and manufacturing plant in East Haven, CT/USA, and its subsidiary in Reading/UK, accounted for world-wide sales of more than US$ 13 million.
For more information, please contact :
Marianne Van den Broeck
Agfa-Gevaert N.V.
Corporate Communication/External Relations
tel. ++32 (0)3/444.80.10
fax ++32 (0)3/444.74.85