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Agfa-Gevaert (EBR:AGFB) Mortsel, Belgium - October 14, 2008 - 8.45 a.m. CET
As announced on the occasion of the publication of the second quarter results, Agfa-Gevaert is planning an important reduction of its operational costs. The worldwide savings program has now been finalized. Its goal is to reduce the Group's operational costs by 120 million Euro before end of 2010. This savings program mainly concerns a reduction of the sales and general administration costs.
Furthermore, Agfa-Gevaert will also realize savings in the field of costs of goods and services, to protect its gross margins in order to strengthen its competitive position. Next to the personnel related expenses, it also concerns non-personnel related expenses, such as infrastructure costs and costs related to the purchase of goods and services. The execution of the program is the responsibility of the three business groups (Graphics, HealthCare, Materials).
Regarding Agfa-Gevaert in Belgium, the members of the works councils were informed earlier today that the company will strive to reduce the operational costs in Belgium by 32 million Euro. Among other measures, the plan implies a reduction of about 300 jobs by end of 2010. This number includes the reduction already planned in anticipation of the volume decrease in the production of traditional film products.
About Agfa The Agfa-Gevaert Group is one of the world's leading companies in imaging and information technology. Agfa develops, manufactures and markets analogue and digital systems for the printing industry (Agfa Graphics), for the healthcare sector (Agfa Healthcare), and for specific industrial applications (Agfa Materials). Agfa is headquartered in Mortsel, Belgium. The company is present in 40 countries and has agents in another 100 countries around the globe. The Agfa-Gevaert Group achieved a turnover of 3,283 million euros in 2007.
Contact: Viviane Dictus Director Corporate Communication tel. ++32 (0)3/444.7124 e-mail: viviane.dictus@agfa.com
