Lastra is a perfect fit for Agfa, said Graphic Systems general manager Albert Follens. The strategy is to keep the Lastra Groups brands and its dealer network in place.

In addition this acquisition will strengthen our cost leadership in printing plates generating revenue and cost synergies.

Last year Lastra, which is the worlds fourth largest plate supplier, had revenues of 163m (euro 240m). It has six factories in Italy and the USA and employs 900 staff.

Lastra bought Western Lithotech from Mitsubishi Chemical in 2002, gaining additional plate lines in the US as well as intellectual property for making visible photopolymer and thermal CTP plates.

The value of the deal wasnt disclosed.

Agfa increased net profit 67% to 220m in 2003 despite sales falling 10% to 2.9billion.

Its Graphic Systems divisions sales fell by 10.5% to 1.1bn, excluding exchange rate variations the fall was 3.5%. The fall was attributed to lower sales and lower prices as well as currency affects.

Agfa expects the results of Graphic Systems to remain subdued in 2004.

by Barney Cox