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  1. #1

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    News today from Kodak

    All,

    I wanted to share the news today from Kodak, as it pertains to its Film and Paper & Output Systems business. Today we announced that Kodak has entered into a comprehensive settlement with the Kodak Pension Plan (KPP), the pension plan for its U.K. employees, to spin-off the Personalized Imaging and Document Imaging businesses. Those in this business at Kodak couldn't be more pleased with the new owner, who recognizes the value and is focused on growth and success. In the new company (to be named at closing), they will use the Kodak brand and hope to have your continued support of the brand, products and services today and for many years to come.

    http://bit.ly/15U2u82

    Best,

    Colleen Krenzer
    PR for Kodak's Film Paper and Output Systems Group

  2. #2
    spatz's Avatar
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    Welcome news indeed.

  3. #3
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    Well it could be a lot worse! I certainly hope under KPP the film offerings don't diminish further, and I can still gleefully buy & use 5x4" TXP for a very long time...

    Marc!
    Marc Morel
    photographie argentique!
    ------------
    http://mrmarcmorel.wordpress.com/

  4. #4
    AgX
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    Trading in a division to a pension fund does not make the future of such a division look any brighter.

    And why did the sale of the Document Imaging Division to Brother did not go through, but to that pension fund instead?

    What is puzzling too is the alleged value of those assets traded in as $650million.
    Last edited by AgX; 04-29-2013 at 08:46 AM. Click to view previous post history.

  5. #5

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    I hope that this means good things for Kodak employees and not a bunch of termination laters.

  6. #6

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    It looks like the new company looks more exclusively focus on photography related products. More focus does seem like a good thing for us in this case.

  7. #7

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    Well, this at least has some potential. The fact that the settlement is less than 25 cents on the dollar book value gives reason for KPP to continue the business rather than liquidate it; I'm sure any UK pensioners would agree. I would like some more info on the UK pension system before making a final conclusion, though.

    What is interesting is that now 2/3 of the major film brands are owned by UK companies.
    "Panic not my child, the Great Yellow Father has your hand"--Larry Dressler

  8. #8

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    So who will own and run the coating machine in Rochester from now on?

  9. #9
    AgX
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    That Kodak Pension fund.

  10. #10
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    I'm optimistic. They should have a long-term planning horizon rather than being bought by some group trying to turn a quick profit.

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