A new independent company, known as Miraclon, has been founded to take Kodak’s former flexographic packaging division forward.
Eastman Kodak Company entered into a definitive agreement last November to sell its Flexographic Packaging Division to Montagu Private Equity LLP, a private equity firm.
With over 300 employees, a research and development team, and manufacturing operations in the U.S. and Japan, Miraclon will focus on the development, production and sale of its Kodak Flexcel Solutions, including the flagship Kodak Flexcel NX System. Under Montagu’s ownership, the company says it intends to strengthen its role as a technology enabler of change as flexographic printing is transformed into a premium printing process for packaging.
Chris Payne, who has been leading Kodak’s Flexographic Packaging Division since January 2015, is the new company CEO and will continue to lead the team responsible for the development and dynamic growth of Kodak’s flexo business.
“Customers will experience the same products, same people and same trusted Kodak product brand that they have come to depend upon to support their own business growth. Together with our customers, we’ve played a decisive role in shaping flexo’s evolution over the last 10 years, and we’re now looking forward, as Miraclon, to being the driving force behind the next evolution of Kodak Flexcel Solutions, and setting new benchmarks for years to come,” Payne says.
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