Agfa Graphics Acquires Pitman Company USA
MORTSEL, Belgium—Agfa Graphics has signed an agreement to purchase the assets of the Harold M. Pitman Company, a U.S. supplier of prepress, industrial inkjet, pressroom, and packaging printing products and systems.
The Pitman Company acquisition increases Agfa Graphics' revenue in the U.S. to more than $500 million. The incremental EBIT contribution is expected to be well in line with Agfa Graphics’ global 7 percent target. After the closing, Agfa expects further growth of its US top line resulting from the combination of expertise available in both companies. Agfa also expects strong synergies to be delivered from the consolidation of sales forces and the reduction of G&A expenses.