Esselte divests International Typeface Corporation
Esselte divests International Typeface Corporation Esselte announced today that it had divested its subsidiary, International Typeface Corporation (ITC), to Agfa Monotype Corporation of Wilmington, Massachussetts, USA. ITC has been a leader and innovator in typeface design for over 30 years. It engaged world class type designers to develop unique type solutions for the graphic design, computer and printing technology fields. ITC sales in 1999 were SEK 31 m. The transaction resulted in a capital gain for Esselte of around SEK 20 m. "ITC is a business which is renowned in the graphic arts field. It is, however, inconsistent with Esselte's strategy of focussing on its core office supplies product categories. ITC will find a more natural home within Agfa Monotype", noted Anders Igel, President and CEO of Esselte. Agfa Monotype Corporation is a major provider of digital content for graphic professionals. The company is a recognized leader in fonts and font technologies and an innovator in colour and screening technologies. Agfa Monotype is a wholly owned subsidiary of Agfa Corporation, a leading worldwide supplier of imaging products and systems. Additional information about Agfa Monotype Corporation can be found on the company's website at www.agfamonotype.com. Esselte is the leading provider of office supplies world-wide. A global group with annual sales exceeding 11bn SEK, subsidiaries in 31 countries, selling office products in over 100 countries and employing over 7,000 people. Esselte brings innovation, efficiency and style to the way people work in the office and at home. Our principal brands are: Dymo; Pendaflex; Leitz and Curtis. Esselte AB is listed on the Stockholm and London stock exchanges. To learn more about Esselte, visit our website at www.esselte.com. For further information please contact: Anders Igel, CEO +44 1895 878711 or +44 7775 914 902 Mats Lönnqvist, CFO+44 1895 878770 or +46 705 915 563 From Sweden, alternatively 020 021 4796 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/03/02/20000302BIT00740/bit0001.doc http://www.bit.se/bitonline/2000/03/02/20000302BIT00740/bit0002.pdf