AgfaPhoto North America will not file for bankruptcy, saying that its financial position and business operations are unaffected by the insolvency filing of its parent company, AgfaPhoto GmbH, in Germany last week.
“We are proceeding in business-as-usual mode with no interruption in the delivery of products and services to our steadily growing customer base,” said Bing Liem, president and CEO of AgfaPhoto North America. “We will not reduce our commercial activities as a result of our parent company’s change in status.”
Liem also said that all of the other AgfaPhoto sales organizations worldwide are also solvent. AgfaPhoto USA is “on track to achieve revenue growth of 20 percent over last year,” according to the company.
AgfaPhoto GmbH has secured interim financial support from former parent company, the Agfa-Gevaert Group, to AgfaPhoto GmbH.