Lucky HuaGuang Graphics Co. Ltd. and Agfa Graphics recently announced a partnership in the graphics prepress business. Both companies intend to accelerate growth in mainland China, managed through the set-up of a joint venture combining their prepress distribution activities in the country.
The strategic alliance aims to allow both companies to grow their respective businesses by optimising their respective strengths in manufacturing, technology and distribution of graphic prepress products and services.
Under the intended collaboration, Lucky HuaGuang Graphics Co. Ltd. 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.
Agfa and Lucky HuaGuang Graphics Co. Ltd. plan 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 Co. Ltd., 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,’ said 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 Co. Ltd. in the global printing industry,’ said Tao Zhang, president of Lucky HuaGuang Graphics Co., Ltd.
The parties have agreed not to disclose any financial details. The implementation of the transaction is subject to customary regulatory and other conditions.