15 July 2010
Agfa Graphics buys Pitman Co.
MORTSEL, BELGIUM—Early this morning Agfa Graphics announced it had agreed to buy the assets of Harold M. Pitman Co., a large distributor in the U.S. of prepress, industrial inkjet, pressroom and packaging printing products.
According to Agfa, the deal will increase its revenue in the U.S. to more than US$500 million. It will also swell its payroll by more than 500 employees and boost its footprint by more than 16 location throughout the country.
In a press conference earlier today, executives from both companies pointed to the complementary product lines, especially for Agfa which can now pair its own industrial inkjet devices to a large range of media, new inks and wide-format systems. This is an opportunity to particularly grow its inkjet business, says Agfa.
Also in the press conference, Agfa execs reported that no similar plans are in the works for Canada at the moment, adding that current distribution channels are working for the company.
Pitman, which has had a 50-year association with Agfa, will now be a subsidiary of Agfa, and though it will continue to operate under its own brand, the two companies will project an aligned look to the marketplace.
In related news, last week Kodak announced it was ending Pitman's right to distribute Kodak products in the U.S., and has named Xpedx its primary national distributor in the U.S. for commercial prepress products.
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