Agfa-Gevaert has decided to split the group in three independent businesses: Graphics, HealthCare and Materials. The new business called Materials will group all of the film manufacturing activities with the niche products of Specialty Products and will be positioned as an independent supplier of film and related products. This structure will give each business the maximum flexibility to implement its growth strategy and to further reduce costs in line with the rapidly changing market circumstances. Agfa-Gevaert intends to achieve annual cost savings of an estimated 250 million Euro by 2008, primarily in general services and in traditional products across all business groups and regions.
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