Agfa moves to shed NDT business

Agfa-Gevaert will divest its nondestructive testing business group to GE Aircraft Engines. The transaction is pending the receipt of regulatory approvals. The NDT group, comprising more than 1000 employees, provides analog and digital x-ray and ultrasonic inspection systems to test the structure and tolerance of industrial materials. In 2002, Agfa's NDT customers in the aerospace, automotive, railway, energy, and petrochemical industries generated revenues of approximately Euro 220 million. These revenues represented about 4.5% of Agfa sales. The agreement with GE covers all Agfa NDT activities except the production of x-ray film, for which Agfa and GE have concluded a long-term supply agreement. Under this agreement, GE will become the exclusive distributor of Agfa industrial x-ray film.