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Kodak Puts Imaging Units up for Sale

Eastman Kodak last week announced its next step towards emergence from Chapter 11 reorganization, which will see the company sell its Personalized Imaging and Document Imaging businesses.

“We are reshaping Kodak,” said company Chairman and CEO Antonio Perez. “We continue to re-balance our company toward commercial, packaging and functional printing – in which we have the broadest portfolio solutions – and enterprise services. These businesses have substantial long-term growth prospects worldwide and are core to the future of Kodak. We are confident that our competitive advantages in materials science and deposition technologies, as well as our know-how in digital imaging, will enable us to capitalize on those opportunities and extend our leadership in key growth markets.”

The Personalized Imaging business consists of its Retail Systems Solutions (RSS), Paper & Output Systems (P&OS) and Event Imaging Solutions (EIS) divisions. RSS contains the company’s retail print solutions for its 105,000 Kodak Picture Kiosks; P&OS is the company’s portfolio of photographic paper and still camera film products; EIS provides souvenir photo products at theme parks and other venues. The Document Imaging business produces scanners, capture software and services to enterprise customers.

Kodak has announced it will continue to operate, in addition to its commercial, packaging and functional printing businesses, its Consumer Inkjet, Entertainment Imaging, Commercial Film and specialty chemicals businesses. 

“As we move forward with the Chapter 11 process, we are focused on delivering the highest value to our creditors so that we can emerge as a sustainable, profitable company that continues to meet the needs of our customers,” Perez concluded.

Kodak says it aims to sell the announced divisions in the first half of 2013. The company is aiming to emergence from Chapter 11 by the end of next year.