Magazine Article


Agfa Makes Cuts, Continues To Operate During Reorganization

AgfaPhoto U.S., under Bing Liem, has a reputation for being a successful and aggressive sales operation. I'm told that they have received no instructions to reduce personnel roles, having already slimmed down over the last few years to about 125 employees.

Brent Bowyer, president of IPI, an organization representing 352 dealers with 572 storefronts, said, "Everybody is pulling for Agfa to make it." He hopes that it will not only survive but "emerge as even a better player."

He acknowledged that many members are being prudent and have a 'plan B', "just in case." ptn


Petters Reported To Be Cutting Polaroid R&D, Digital Plans

Petters Group Worldwide LLC is reported to be abandoning Polaroid Corporation's digital imaging technology and laying off most of its R&D staff according to an article in the August 2, 2005 edition of the Boston Globe.

These developments come only months after Petters completed its takeover of Polaroid. Petters acquired Polaroid from One Equity Partners, who had purchased the company in 2002—a year after Polaroid declared bankruptcy.

Polaroid spokeswoman Kimberly Reingold declined to comment on the Boston Globe article. Reingold did reiterate that "Polaroid continues to market instant cameras and film on a worldwide basis to both consumers and professionals. Polaroid provides a variety of digital and analogue products to b-to-b professionals for their imaging needs." She added, "With the Polaroid/Petters merger, Polaroid Corporation designs, develops, manufactures and markets instant and digital imaging products, including consumer electronics such as digital cameras, TVs and DVD players."

Petters Group Worldwide could not be reached for comment.

—Diane Berkenfeld