Eastman Kodak has announced it will be acquiring substantially all of the assets of the relief plates business of Tokyo Ohka Kogyo Company (TOK). The acquisition will expand Kodak’s capabilities, particularly in the packaging industry.
The relief plate business includes flexography, letterpress, Braille and molding plate products produced and marketed by TOK worldwide. Included in the acquisition agreement is a manufacturing plant located in Yamanashi Prefecture, west of Tokyo, that produces relief plates.
“Kodak is strongly committed to the packaging industry and we are seeing growing demand, especially in the Asia-Pacific region. We are delighted by this opportunity to add TOK’s talented employees to our existing team for the benefit of our customers and shareholders,” said Douglas Edwards, Kodak Vice President and General Manager, Prepress Solutions. “Delivering solutions for the packaging industry is one of Kodak’s key corporate growth initiatives, and we expect to double revenues in this segment by 2012, so this will contribute toward that goal.”
Approximately 100 employees part of TOK’s relief plate business will join Kodak after the completion of the acquisition, expected to close in the first quarter of 2011. Financial terms of the deal have not been disclosed.