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Agfa Graphics has reached an agreement to acquire most of the assets of Gandi Innovations Holdings LLC is North American operations and the shares of its principal foreign subsidiaries.
Since May 2009, Gandi Innovations has been operating under CCAA protection in Canada and Chapter 15 in the USA. The acquisition is subject to regulatory and court approval and the successful closing of the transaction. The price of the transaction is not being disclosed at this point of time, but it will have no major impact on Agfa is financial debt.
Over the period 2001-2009, Gandi Innovations has created a large installed base of inkjet printing engines, reaching a sales peak of 127 million USD in 2008. Sales in 2009 have strongly suffered from the economic crisis and the uncertainty surrounding the company. Gandi Innovations long established team has a wealth of pioneering expertise and engineering excellence in large format printing technology. Gandi Innovations customers include many of the world is leading Point of Purchase and large format printing companies. Over the years, they have come to rely on the company is vision, reliability and cutting-edge technology.
Gandi Innovations was founded in 2001 and has its headquarters and its production facilities in Mississauga (Canada). The Group employs 256 highly skilled staff and operates worldwide through sales offices and distributors. |
