Agfa to Pull Out of Camera Film Industry

Agfa-Gevaert, one of the best-known names in camera film, said it was quitting the industry because of the booming popularity of digital cameras.

While international rivals Eastman Kodak Co. and Fuji Photo Film Co. revamp their film divisions to cope with the digital camera craze, Mortsel, Belgium-based Agfa is selling its consumer photography unit to managers for $215 million.

Global film sales have fallen 13% since their peak in 2001, while sales of digital cameras have almost tripled.

“Basically, we are separating ourselves from our roots,” Chief Executive Ludo Verhoeven said, explaining that he wanted to focus on Agfa’s medical diagnosis and printing equipment units.