Agfa Graphics Plans to Close Printing Plate Factory in Banwol, South Korea

Agfa Graphics announced that it plans to close down its offset printing plate factory in Banwol, South Korea. The plant produces mainly analog offset plates for the local market. For several years now, these product lines have been facing a structural decline in demand.
 
“This decision is part of our strategy to improve the operational efficiency of our global factory network, our profit margins and our position in the highly competitive prepress market,” says Stefaan Vanhooren, president of  Agfa Graphics.
 
Agfa Graphics has informed the Banwol employees as well as the trade unions that it intends to close down the factory, impacting 36 employee positions. A plan will be developed for the employees who currently work in Banwol.