Lucky HuaGuang Graphics Co. Ltd. and Agfa Graphics have announced that they have entered into a strategic alliance in the graphics prepress business. The strategic alliance aims to allow both companies to grow their respective businesses by optimizing their respective strengths in manufacturing, technology and distribution of graphic prepress products and services.
Under the intended collaboration, Lucky HuaGuang Graphics will provide manufacturing capacity for printing plates in Nanyang, China, with Agfa Graphics’ support and using Agfa Graphics’ high-end technology and intellectual property to manufacture products for Agfa.
Furthermore, both companies plan to join forces to accelerate growth in mainland China, managed through the set-up of a joint venture combining their prepress distribution activities in the country.
Agfa and Lucky HuaGuang Graphics intend to expand their cooperation in other areas in the future, allowing both companies to grow their businesses and brand presence internationally.
“Joining forces with Lucky HuaGuang Graphics, a leading supplier of prepress plates in China, will offer us a unique opportunity to grow our business and to restore our profitability. It is an important step in the further development of our strategy to offer our customers more choice,” says Stefaan Vanhooren, president, Agfa Graphics.
“Agfa’s strong reputation and ambition to grow in the prepress industry will accelerate our plans to strengthen the presence of Lucky HuaGuang Graphics in the global printing industry,” says Tao Zhang, president of Lucky HuaGuang Graphics.
The parties have agreed not to disclose any financial details. The implementation of the transaction is subject to customary regulatory and other conditions.