Agfa-Gevaert Becomes Three Companies
BRUSSELS, BELGIUM—On the heels of a fourth quarter loss fueled in part by escalating costs of raw materials, Agfa-Gevaert has decided to split into three public companies in the hopes of boosting its sagging results.
The company will trade under three independently listed companies—Agfa Graphics, Agfa HealthCare and Agfa Materials—by the end of 2007. Shareholders will end up with shares in each of the separately listed companies.
Agfa-Gevaert reported a loss of more than $33 million for the fourth quarter, compared to a profit of $50.27 million the previous year. The 2006 fourth quarter loss includes restructuring charges.