UK firm interested in buying bankrupt AgfaPhoto
12 October 2005, LEVERKUSEN - Japanese imaging company Fuji wants to buy AgfaPhoto's laboratory equipment business, a spokesman for the insolvent German company said Wednesday.
12 October 2005
LEVERKUSEN - Japanese imaging company Fuji wants to buy AgfaPhoto's laboratory equipment business, a spokesman for the insolvent German company said Wednesday.
AgfaPhoto, which employs some 1,000 people, is based in Leverkusen near Cologne. In May, the company filed for insolvency after it was unable to pay its employees salaries.
Only one company, British photobooth operator Photo-Me, has expressing interest in buying the photo film and equipment manufacturer outright.
Negotiations with potential buyers have stalled amid a dispute over rights to the Agfa-Photo trademark. If no decision is taken by the end of the week, AgfaPhoto will close by the end of 2005, said the head of the workers council, Bernhard Dykstra.
Britain's Photo-Me only wishes to buy the firm if the question of trademark rights can be quickly resolved, whereas Fuji wants to retain only 60 employees in laboratory equipment production, a Fuji spokesperson said. Other investors have yet to express interest in other parts of the business.
In November 2004, Belgium's Agfa-Gevaert sold the company to management and a group of financial investors.
Subject: German news