Agfa Buys Pitman Co.

Agfa Graphics (Mortsel (Belgium)has signed an agreement to purchase the assets of the Harold M. Pitman Co., (Totowa, NJ), a leading U.S. supplier of prepress, industrial inkjet, pressroom and packaging printing products and systems. Pitman has 502 employees in 16 U.S. locations.

The acquisition will increase Agfa Graphics’ U.S. revenue to more than $500 million.

Agfa said the purchase will strengthen its distribution and presence in the U.S. industrial printing industry and, also, expand its sales into the packaging and pressroom printing markets via different manufacturers’ product portfolios. It will also provide growth opportunities from complementary product lines in the industrial inkjet business as well as growth from the sales force consolidation.

Stefaan Vanhooren, Agfa Graphics’ president, said, "One of the main drivers behind this decision is that we gain a unique opportunity to significantly grow our inkjet business."