Agfa Sells Monotype; Lastra Plate Plant in Texas to Be Closed
MORTSEL, BELGIUM—Agfa-Gevaert has signed an agreement to sell Agfa Monotype, of Wilmington, MA, to Boston-based private equity investor TA Associates for $169 million. Agfa Monotype will change its name to Monotype Imaging.
Monotype Imaging is a leading provider of fonts and font-related software technology for the display and imaging of text.
In other company news, Agfa is consolidating its Lastra/Western Litho plate manufacturing activities, with production to be done at its Branchburg, NJ, plant. The Lastra America plant in Jacksonville, TX, will be closed by the end of the second quarter of 2005.
The move is part of the continuing integration of the two companies' North American operations, following Agfa-Gevaert Group's acquisition of Lastra.